HI ALL IF YOUR STRUGGLING TO GET A MORTGAGE, GOT NO DEPOSIT,BAD CREDIT RATING LOOK AT DOING OPTIONS ALL YOU NEED TO BE IS CREATIVE YOU CAN EVEN GET PAYED IF YOU USE A SANDWICH OPTION IF YOU WOULD LIKE TO NO MORE ABOUT OPTIONS CONTACT ME VIA MY EMAIL tcproperty8@aol.com PS IM LOOKING AT A DELAYED OPTION ON A PROPERTY THIS BY PASSES THE 6 MONTH RULE ON REMORTGAGE ,WHAT IVE DONE IS THE PROPERTY NEEDS WORK TO IT IT IS UNMORTGAGEABLE AT THE MOMENT AND I HAVE A AGREEMENT WITH THE VENDOR . HE SUPPLY ME WITH THE FINANCE NEEDED AND AGREES TO SALE ME THE PROPERTY FOR A FIXED AMOUNT IN 3 MONTHS TIME OR WHEN THE WORK IS DONE PROPERTY VALUE AS IT IS £60,000 COST OF WORK IS £10,000 NEW VALUE OF PROPERTY IS £110,000 MORTGAGE AT 75% £82,000 MINUS COST/PURCHASE PROFIT /CASH BACK £12,000 APROX MORT 4.49% ......................................=£320 PER MONTH RENT PER MONTH.................................=£505 PER MONTH RENT PROFIT APROX PER MONTH.........=£185 PER MONTH IF THIS KIND OF DEAL INTERESTS YOU EMAIL ME AT tcproperty8@aol.com
I am struggling to understand why the vendor would give you an option to buy the property at £60k and then finance the work to be done ?....or are you sharing the profit with him.
Why can't he just get the work done himself and sell it or rent it without your involvement ?.
It seems to me that the stated purchase price and the revaluation are absolutely critical...not sure if a deliberate under or over valuation is legal.
