READY MADE DEAL: Birmingham - 2 Bed Bungalow Cash in 23,500 FOR THE DEAL - REF 966

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READY MADE DEAL: Birmingham - 2 Bed Bungalow Cash in 23,500 FOR THE DEAL - REF 966

INVESTOR OFFERING -

Investment Type: Ready-made deal - All negotiation has been carried out and the purchase price is agreed.

Location: Birmingham

Property Details: 2 Bedroom Bungalow

Tenure: Freehold

Vendor Situation The daughter of the lady bought her mum another property and needs to recover the capital (154k)

Market Value: 195,000

Purchase Price: 154,000

Market Value Discount: 21.0%

INSTANT EQUITY: 41,000

Property Details:

The property is a semi detached bungalow on the outskirts of Birmingham. The vendor is an old lady moving closer to her daughter. She has found a new place and has been trying to sell her bungalow for about 1 year. The bungalow was sold at 210k but the buyer could not complete. The property is also arranged at present as a 1 bed with the second room being a dining room, which puts off buyers. The decor of the bungalow is excellent though dated (e.g. it is very clean and tidy and in good condition though the carpets and the decoration are those of an old lady).

Works Summary: A refurb of up to 10,000 (not verified)

Estimate Market Value Afterworks: 220,000 (not verified)

Main Features: Garage, Off-road Parking.

Mortgage Examples:

For buy-to-sell:

90% LTV

Based on 6.74% tracker

No ERP

Monthly payments around: 788

Rental Value: 600

Equity in property: 54,000 (minus selling costs)

Cash in at purchase: 23,500 (approx)

Finders Fee: 4,000

Please note:

Cash in figures above include an estimate of all buying costs (see below for details) including finder's fees.

Mortgage product subject to status. Mortgage figures are subject to change without notice and may affect the final figures. Please call for an illustration. Mortgage application fee of 1,732 added to the loan amount (already calculated in the figures above).

Buyers may provide their own finance if preferred.

Cash in or cash back figures may be subject to change dependant on the mortgage available at the time of completion.

Upfront costs:

Reservation Fee: 1,000 (deducted from the final Finder's Fee)

Packaging Fee: 550

Mortgage Broker Fee: 0

Valuation Fee: 350

Legal Fees: 400 (deducted from the final legal bill)

Other Fees:

Buyer's Legal Fee: 525 + vat + disbursements

Vendor's Legal Fee: 495 + vat + disbursements

Stamp Duty @ 1%: 1,540

To purchase this deal, please click on the following link:-

http://www.rapidpropertybuyers.biz/associates.html

Terms and Conditions:

We will refund your valuation fee and your reservation fee in full if the official valuation figure provided by the mortgage lender is lower than what we have stated. It will be refunded only if you decide to withdraw from the purchase within 24 hours of receiving the valuation figure.

The reservation and packaging fees are non refundable, except in the case of receiving a lower valuation as stated above.

Viewings of the property will only be carried out after the valuation has been booked.

Finders Fees are payable in full on completion.

Costs quoted are for guidance only and may vary. They will also incur VAT where applicable.

We do not accept responsibility for any expenses or losses incurred by you.

The Market Value quoted is provided in good faith and will be confirmed by the lender's valuer.

No information presented in these particulars and/or displayed on Rapid Property Buyers web site constitutes or forms part of a contract, with the exception of the stated terms and conditions.

Rapid Property Buyers is not a licensed investment advisor or a licensed estate agent.

Rapid Property Buyers is not authorised by the Financial Services Authority to provide investment or financial advice.

In paying the reservation fee you agree to these terms.

Disclaimer: Rapid Property Buyers and Homekeys.co.uk Ltd, their directors, affiliates, officers, employees, agents, contractors, successors and assigns (herein "RPB&Homekeys") do not accept any liability for any investment decisions made on the basis of, arising out of, or in any way related to, the use of this information. The information and services provided by RPB&Homekeys do not constitute financial, investment or tax advice and should not be taken as such. RPB&Homekeys urge you to obtain professional advice before proceeding with any investment. Whilst we take reasonable care to ensure that the information we provide is accurate and up to date, we cannot warrant that it is. Cash in or cash back figures may be subject to change dependant on the mortgage available at the time of sale Some products and services may be available at a lower or higher cost than quoted in this communication. If you would like a detailed mortgage illustration, please ask for a referral to one of our independent mortgage brokers. RPB&Homekeys promote products and services specifically designed for use in the United Kingdom only.



29/01/2008 00:00

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