Omer has given the breakdown that most mortgage brokers have experienced. Emotional buyers beg, borrow and do everything they can to get the money together for a property they’ve fell in love with. Price has gone out the window by this point.
Normally the special conditions will state that the form of transfer is appended to the special conditions in this case TR2 because it’s repossession. Bit sneaky but get legals done as lots copy pasting going on with cheap factory outfits.
Capital Home Loans. The Buyer shall not sell or otherwise dispose of the Property or any part of the Property within 12 months of the Completion Date without the prior written consent of the Seller. 26.3.1 if the price paid for the Property as a whole, or if the aggregate price paid for each part of the Property sold within 12 months of the Completion Date, exceeds the Purchase Price, pay to the Sellers the difference between the Purchase Price and the price paid or aggregate price paid;
@@SaifDerzi I wonder if you'd get away with putting that condition in yourself or is it only appropriate in a repo? Have visions of flogging a very tempting refurbish project with that condition on. Particularly with one of the more questionable auctioneers... Not very ethical though
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Omer has given the breakdown that most mortgage brokers have experienced. Emotional buyers beg, borrow and do everything they can to get the money together for a property they’ve fell in love with. Price has gone out the window by this point.
Always make sure you deal with a motivated buyer and never become one yourself!
super helpful
Thanks!
Great video chaps
Thanks Tom
Watching this for the 2nd time - taking notes for future auction purchases!!
Ola
Normally the special conditions will state that the form of transfer is appended to the special conditions in this case TR2 because it’s repossession. Bit sneaky but get legals done as lots copy pasting going on with cheap factory outfits.
This one was very sneaky and not what you usually expect although they did end up putting it into the specials to reflect this eventually....
Love IT 👌🔥🚀
Thanks Dom!
Which lender gents??? Great chat
Capital Home Loans as far as we remember!
Great bit of advice on the overage issue. Who is said lender in this scenario?
Capital Home Loans.
The Buyer shall not sell or otherwise dispose of the Property or any part of the Property within 12 months of the Completion Date without the prior written consent of the Seller.
26.3.1 if the price paid for the Property as a whole, or if the aggregate price paid for each part of the Property sold within 12 months of the Completion Date, exceeds the Purchase Price, pay to the Sellers the difference between the Purchase Price and the price paid or aggregate price paid;
Defo something that most will miss including the most experienced!
Expect these with any Capital Home Loans repossessions! @@alfiecroft2435 thanks for posting the clause in here
@@SaifDerzi I wonder if you'd get away with putting that condition in yourself or is it only appropriate in a repo? Have visions of flogging a very tempting refurbish project with that condition on. Particularly with one of the more questionable auctioneers...
Not very ethical though
Wow, thank-you Oliver for sharing that horror story for our education.
What happened to you was outrageous and horrible. My sympathies.
Ok so just watched this. It's six months on what happened????????
Your video quality and thumbnail design are awesome, but SEO optimization is not done properly, so your video views are not there, I want to help you grow your business.
Thank you
Thanks! We are improving step by step!