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Purchase Option (sometimes called Lease Option Purchase) is an increasingly popular arrangement for acquiring Below Market Value property. Whether you are an investor/landlord or tenant/buyer, purchase option can be an effective and efficient property-buying tool. Two types of persons may be interested in Purchase Option:
1) the investor/landlord, who wants to acquire a property without deposit or obtaining a mortgage; or 2) the tenant/buyer with poor credit rating or non-UK residential status, which is getting in the way of obtaining a mortgage.
Purchase Option allows ...
a) someone to rent an already mortgaged property; b) the current mortgage payment to be taken over by the buyer; and, c) the option-to-buy the property within the contract term. >>>>>> Click here to read more <<<<<< Our Purchase Process Purchasing a Below Market Value property is little different from purchasing Open Market Value property but you are saving a considerable amount of money. Register on www.bmvpropertyinvestmentdeals.co.uk to receive email alert of all our new BMV listings. You may also elect to receive advanced notification of targeted new property deals to your mobile phone via Subscribe to SMS alerts... , particularly useful if you are very active but not always in front of your personal computer. Financial Breakdown & Property Particulars for each deal is found on the website under MORE DETAILS (see browser page) and includes: estimated rental income, desk-top or RICS valuation; below market value purchase price; current mortgage loan; current mortgage payment; estimate for seller’s legal fee; the finder’s fee; and, our broker fee. *Due Diligence. Under MORE DETAILS>Investor Tools are two links for you to satisfy yourself the neighbourhood, true market value and rental prospects present a real investment opportunity: View a map ... links you to MapGoogle where you may zoom in-out of the map of the area and view street pictures to obtain an impression of town, its facilities and neighbourhood. Check local area ... links you to UpMyStreet where you can read commentary about shopping; leisure, schools, crime and, make valuation and rental comparisons. Reserve your chosen property anytime, 24/7, by logging into the website and clicking MORE DETAILS. Under Investor Tools is a RESERVE button (if it says REGISTER, you are not logged-in). Click RESERVE and answer the initial page about you, accept terms of business and pay the reservation fee. See TOB 010711 section 8.0 for conditions of refund. You will receive confirmation of your reservation by email together with a down-loadable personal data form to complete/return on screen within 12-hours or the listing agent may not hold the reservation. The property listing agent will contact you to confirm reservation. If viewing is required it must be performed within 48-hours of reservation. The seller’s solicitor will liaise with your solicitor to commence contracts. Completion is expected within 4-6 weeks.
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