Ehson Kolb’s Post

The potential pitfalls of short leaseholds https://lnkd.in/eDV6r-gq #Property #HousingMarket #ShortLeaseholds

Facing a pre-foreclosure auction? 🏦 Don’t panic—there are still ways to buy some time. Filing for bankruptcy or requesting loan forbearance can often postpone the auction and give you more time to negotiate with your lender or explore selling options. ⏳ Many homeowners think it’s too late once an auction is scheduled, but that’s not always true. Acting fast is crucial, though—the sooner you take action, the more options you’ll have. Foreclosure isn’t final until the gavel falls, so don’t give up just yet! 🛑 #PreForeclosure #HomeSaver #RealEstateAdvice

Our Business Development Director, Edward Blackmore, recently closed a £450,000 deal to help a client finalise an overseas property purchase under tight deadlines. The client faced last minute delays from their original lender, but by leveraging their contemporary artwork, we provided the required funds in just four days, ensuring the property purchase went ahead on time. Edward commented: "This case proves that advisers should not give up if conventional sources of funding prove to be inadequate. Once our introducer realised that the client had artwork that he was trying to sell, one call to Suros Capital opened up the path to a solution that meant that his property purchase went ahead." Read more in The Intermediary. #ArtLending #ArtFinance #FineArt #ArtCollecting #ArtAuction #ArtInvestment #ArtInvesting #ArtCollector #ArtMarket #ArtMarketNews #ArtWorld #BridgingFinance #SpecialistLending #AssetFinance #BridgingLoan

A typical example of a standard short lease flat purchase. The first flat on Homes Under the Hammer is a short lease flat in Walthamstow East London 66 years left on the lease. This is exactly the same layout of my first residential flat. Built by Fairview Homes. Purchased for £176,000. Had a guide of £125,000 at auction. Estimated lease extension £30,000 Estimated refurbishment £28,000 Created another bedroom by reconfiguration. Total spend £234,000 including Stamp Duty, legal according to HUTH. Basically, it's a triple threat! A Triple Threat: a short lease, reconfiguration and refurbishment. Consent to alter ✅️ Consent for short-term lets ✅️ Lease extension to 199 years ✅️ Purchased August 2023 via auction. December 2023 valued by estate agent. Valued at £280,000, £290,000 end value. Potentially £50,000 ish profit 📈/uplift. Rental income up to £1,300pcm Short Term let £140 to £160 per night on short term let. They plan to refinance and recycle ♻️ the cash. Series 27. Episode 20 HUTH Trust the process. #property #shortleases #shortleaseking #JasonPatterson #homesunderthehammer #leasehold #properties

Auction Purchases - Non standard Properties - The Risks Today I just wanted to talk about buying properties at auction, where the property is of non standard construction and the risks involved. I had a client recently who was looking to buy a property at auction that was concrete construction. The client intended to purchase, carry out a complete refurbishment and they were going to change the construction to brick. Now there are lenders that will provide bridging loans on non standard construction properties, but the issue here was we were unable to confirm the specific construction type and unable to get a valuation done before the auction took place. Now my concern was that if the client wins the bid and then a valuer visits the property and raises lots of issues regarding the construction, the lender might decide not to lend or want the client to put more money in, which they didn't have. I discussed this with the client and I felt we did not have a plan b in place in case the valuation came back with issues, plus we have a 28 day deadline to complete by, so I felt it is best the client does not proceed as its too risky and they agreed. I think it is important to always have a plan b or c lined up with auction properties, such as being able to go to other lenders or money available to buy outright or have other property with lots of equity we can raise money against. There can be some great deals at property auctions, but also be aware of the risks involved. If you would like to raise money for a property development project, you can reach me at: Schedule a Call: https://bit.ly/2VOv9tS Website: https://lnkd.in/dUPWQwDi YOUR CAPITAL IS AT RISK IF YOU DO NOT KEEP TO THE TERMS OF YOUR AGREEMENT THE MONEY HUB LIMITED ARE A LICENSED CREDIT BROKER AND NOT A LENDER. #bridgingloans #auctionproperty #propertydevelopmentfinance

The assignment of the auction for real estate acquisition

Buying and selling a home can be stressful and a little overwhelming 🏠 We're here to make things as easy as possible. Take a look at our 10 tips for a smooth sale and purchase. https://lnkd.in/eXSgxWR5 #buyingahouse #selling #buying #propertylaw #legaladvice #conveyancing

#therefreshteamcbr #realtors #luxuryrealestate #coldwellbankerrealty #jodypetersonlodge #karenaltondanielson #equitycreators #buying #selling #homeiswheretheheartis How an Agent Helps Market Your House You’re ready to sell your house. But what do you need most from your real estate agent? Well, the National Association of Realtors (NAR) asked that very question to recent sellers and found one of the top things they were looking for is help marketing their house to potential buyers. Maybe that’s what you need the most help with too. You expect your real estate agent to write a great description of your house for the listing and... #expertanswers #sellyourhouse

Explore the journey from listing to settlement with expert insights from Caine Real Estate. Whether you're buying or selling, navigate the process with confidence. #RealEstateJourney #ListingToSettlement #PropertySuccess #RealEstateTips #MelbourneRealEstate

Transforming your home can be overwhelming with cabinets, flooring, paint swatches, oh my! Focus on what's truly important while we handle the financial details. Looking for expert assistance with mortgages? Send me a DM now! 💪🏡 #HomeRenovation #MortgageHelp