"Below market value"/no money down/no money left in

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    "Below market value"/no money down/no money left in

    Hi there all,

    We're looking for BMV properties in North East.

    Look forward to hearing from anyone who can help us with this.

    Thank you.

    Gary McGeown

    078 0974 0553

    #2
    I know I will appear dumb, but what is BMV??
    Mrs Jones
    I am not an expert - my posts are my opinion and should not be taken as fact!!

    Comment


      #3
      Below Market Value...? possibly maybe sort of?
      My views and posts are based on my opinion and any advice given is just that, advice. If you decide to act on any advice given it is with the full knowledge that I am not perfect and anything I say could be wrong!

      Comment


        #4
        Thanks Sorrel. That makes sense!
        Mrs Jones
        I am not an expert - my posts are my opinion and should not be taken as fact!!

        Comment


          #5
          I have to laugh here, BMV = Below market Value, its what most of us do, purchase a property at below market value thus avoiding putting in your own deposit or any in that fact.

          Gary Will call you tomorrow, Is your sister still over in the North East? Have a few suggestions for you and possibly a bigger property that I dont think I can manage just now.

          Jax

          Comment


            #6
            "Below market value"- does this mean anything, really?

            I am fed up with all the people on her harping on about...

            "I am buying below market value"

            "This special club finds under value houses etc"

            FACT 1. People dont give money away...not even to you

            FACT 2. Sale at under value does not exist.

            FACT 3. The value of someting in life is what it is worth to a willing buyer.

            FACT 4. I would say a sale at under value is FRAUD at some point.

            Views any one!!!!!!!!!!!1
            What i write is what i think....If you need solid info PAY A SOLICITOR!!

            Comment


              #7
              I sort of agree, the whole BMV fad is seriously dodgy.

              But... "market" value is relative to the market.

              The market for a property for sale within a reasonable time, say up to 3 months, may be entirely different to the market for a property to be sold NOW (because of financial distress or whatever).

              But what the BMV crowd forget is that BMV deals go towards establishing the market in the immediate area. The most recent deals, over the last 18 months in the block where I live have all been ~300k. Two or three "BMV" deals in this block at say 225k and that effectively establishes "value" at that level.

              Therefore, no longer BMV.
              Now signature free.

              Comment


                #8
                Originally posted by davidjpowell View Post
                wherein the parties had each acted knowledgeably, prudently and without
                compulsion
                .
                Well, that rules out a lot of people, doesn't it!
                'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                Comment


                  #9
                  Originally posted by mind the gap View Post
                  Well, that rules out a lot of people, doesn't it!
                  "A lot of"? "Most"!
                  JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                  1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                  2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                  3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                  4. *- Contact info: click on my name (blue-highlight link).

                  Comment


                    #10
                    Originally posted by jeffrey View Post
                    "A lot of"? "Most"!
                    Prefer "whole bunches".
                    ASSUME NOTHING - QUESTION EVERYTHING!

                    Comment


                      #11
                      Originally posted by Mars Mug View Post
                      Solicitors are worth their weight in gold.
                      Please relay this fact to certain LZ members (Longsufferingleaseholder amongst them).
                      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                      4. *- Contact info: click on my name (blue-highlight link).

                      Comment


                        #12
                        The more sensible posts on this thread have been moved into a new CONV. thread: http://www.landlordzone.co.uk/forums...ad.php?t=17325

                        Comment


                          #13
                          Schemes: "No money left in"? "No money down"?

                          Hi Guys, Has anyone done any No Money Left In Deals??

                          Comment


                            #14
                            Originally posted by davidcrow View Post
                            Hi Guys, Has anyone done any No Money Left In Deals??
                            As your post is effectively meaningless at present, you'll have to tell us what you intend to ask!
                            'No money left in' what? Dunfermline BS, Bank of England, the whole UK?
                            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                            4. *- Contact info: click on my name (blue-highlight link).

                            Comment


                              #15
                              No Money Left In

                              Sorry Guys I assumed to much.
                              My question is has anyone done any property purchases using the "no money left in" idea. I have heard of the phrase, but I dont know how it works. Can anyone explain please.
                              Regards David

                              Comment

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