Buying a a buy to let property in just 2 days
It’s been a hectic few days and we have gone from viewing a property to having an offer accepted in just 2 days. Below is a quick recap of recent events.
Saturday 03/03/12 – We view what might be our Buy to Let property number 4, which is located in the same street as 2 of our other buy to let properties.
Some buy to let experts talk about specialising in a particular area, but this would be our third property in the same street!
Sunday 04/03/12 – we email our solicitor telling them we viewed a new buy to let property on Saturday and ask them to register a note of interest on property and we also let our solicitors know who the seller’s estate agents are.
Monday 05/03/12 @ 07:44 AM – We email our solictor saying that we have thought about it overnight. The property is offers over £45,000. We inform our solictor to put an offer in for £45,620 to see if the sellers bite.
Monday 05/03/12 @ 11:33 AM – Our solicitor calls to say that the sellers had mentioned that the Home Report valued the property at £50,000, but if we increase our offer to £47,500 they would accept and take the property off the market.
Monday 05/03/12 @ 11:35 AM – Quick call to my wife, we are happy with this, since if it had gone to a closing date we would have probably offered £47,620.
Monday 05/03/12 @ 15:45 PM – the sellers have accepted our offer of £47,500, so we now almost have Buy to Let property number 4. Time to contact our IFA again to organise a Buy to Let mortgage 🙂 (Remember the last time we used an IFA)