Forces Homes Newsletter

Five Reasons to use Forces Homes!

Reason 3

Protecting our clients interests...

Our clients approached us with this property, really keen to put an offer in. However after our research not only did we find that it was on the worst street, on the worst council estate in this particular town, but it was also concrete.

The agents told our clients that they could find them a mortgage. What they didn't tell them was that very few lenders would actually lend on it and the list gets smaller every year.

The reason for this is that concrete houses were only ever intended to provide quick to build, low cost, temporary housing and they have a short life, suffering from something called concrete cancer.

Eventually where a lender may be happy to lend with only a small deposit today, in years to come they may only be sold to cash buyers and lets face it if you had the cash to buy a house outright, why would you buy one that you would have difficulty selling. This house will eventually become a mill stone to some poor unsuspecting buyer.

To cut a long story short, we found them this... for the same money!

This property was quite a find and not only will it provide them with a lovely family home in years to be come, but peace of mind that it will increase in value and it will be resalable if they outgrow it.

In the following case a couple decided that they would like to keep their purchase price to a minimum, they phoned us one day absolutely desperate to make an offer on a house they had viewed that morning.

With no mortgage in place our broker set to work and confirmed that they were indeed able to afford the house. We carried out some research on the property, but the agents were a bit vague and when we asked them to forward over the property details and photographs unfortunately they were having problems with their email and couldn't get it through to us!

The estate agents were putting our client under pressure to make an offer, telling them that they could lose the house if they waited. Concerned that with the delay someone else would beat him to it, our client asked us just to go forward and make the offer, which we did and it was duly accepted.

However when it became evident to the agents that the sale was not going to proceed any further without the property details, their email started working again and to our surprise we received a picture of the house below.

Not only was it sub standard construction, with a flat roof, it had no heating, no internal doors and was in desperate need of a full renovation. Suffice to say we strongly advised our clients to withdraw the offer, which he eventually agreed to.

To our client, this was a cheap property which they were happy to renovate. To us this was future nightmare.

Anyone buying this house would no doubt have lost money on surveys before they found a mortgage company who was prepared to lend on it. But losing money on a survey would have been the least of their problems if they had managed to get to completion, as within a matter of only a few years they would have ended up with a house they couldn't sell.

It wasn't long before we found them the house below, it also needed a little work, but at least it provided them with an investment and not a mill stone.

Only 60% of offers will ever reach completion, but of those 60% that think they did a great job, we will never know how many come to realise in the future, that their dream home has become their worst nightmare!

There is never a bad time to buy only a bad time to sell.

Five Reasons

Reason 1

Reason 2

Want to learn more:

To Buy or Not to Buy

Stamp Duty

House Price Prediction

Mortgages

Lending

Buy Now

Hibernation

Prices are on the up

Property Boom

Rogue Letting Agents

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Bridging the gap!

Address and Registered Office

Forces Homes Ltd,

Borough House Business Centre, 5 Borough Road, Richmond, North Yorkshire, DL10 4SX

Tel: 0044 (0)1748 821118 Fax: 0044 (0)8708 386 562 Email: enquiries@forceshomes.co.uk

The information supplied is valid at the time of printing and is subject to change. Estimates are available on request. ID:270108

Company No: 5902961 Registered in England & Wales