Working directly with vendors
gives us more scope to come up with a creative way to finance the
purchase, control the property AND most importantly create a workable solution
for the vendor who may not have enough time to wait for a traditional sale.
Working in an open and honest manner with the owner is at the core of our
values and it is essential to us that we are able to come up with a true win/win
The vendor of these properties (a pair of Victorian semi-detached houses) had been marketing them for some time but had not managed to secure a sale. He received one of our leaflets and gave us a call. We agreed to purchase both houses unconditionally as we could see there was a very good chance of obtaining planning in the rear gardens. During the conveyancing we obtained a pre-app from the planning department to give us additional peace of mind that planning would be possible. This came back with a positive response.
Less than 6 months after purchase we successfully obtained planning for three, one bedroom new build flats.
Purchase Price £485,000 (RICS Valuation £550,000)
Value of the site with planning in place £700,000
All Saints Road
This was a very run down 1970's townhouse which we were able
to purchase for £130,000. Because the market was exceptionally strong at the
time we sold this property with no refurbishment (other than clearance).
Purchase Price £130,000
Sale Price £165,000
All Saints Road #2
This deal was an assisted sale. The property was being sold by a vendor who needed to move on
quickly. We secured the property without purchasing it. We paid for the sellers
first years rents in advance so he was able to move out of this property over a
period of 2 weeks. This property was also sold with no refurbishment and was
placed immediately on the market.
Agreed Price £130,000
Works £250 – Clearance only
Sale Price £175,000
This is another example of an assisted sale. In this case the vendor needed funds
immediately. We were able to lend her enough money to see her through a
difficult period. We could have purchased the property quickly from her at a
lower price but we advised her this way she could achieve more for her flat.
Agreed Price £260,000
Works £600 – Deep clean
Sale Price - £300,000