Things to watch out for and possible solution – Jane Crest

Motivated Seller 1 – Jane Crest

Things to watch out for:-

1. Already on market through agent – valuers will look at this price.
2. Extra loan takes lending above 75%.

Did you ask?

1. When did you last do any refurbishments? (Good condition can mean anything)
2. Can I visit when both you and your partner are there?
3. What is the outstanding amount on your mortgage (may be lower now).
4. Is there an early repayment penalty on the mortgage or the secured loan?
5. When did/does your new job start?

Solutions:-

1. Minimum buy price is £68K (mortgage plus loan outstanding).
2. Buy part-now/part later
3. Traditional purchase

Lease option only works well if £10K clear achieved plus o/s loan covered – use lease deposit. [Lease deposit (or fee) is a fee that is subsequently taken off the purchase price.]