Patience, ‘nouse’ and negotiating skills needed for this modern Falkirk buy to let opportunity

Patience, ‘nouse’ and negotiating skills, that’s what you need for this Falkirk buy to let property.

The property is a first floor, 2 bed flat in a fairly modern block in Victoria Road in Falkirk.  

Victoria Road is between the back of the Retail Park and Victoria Park.  From the photos, it looks like this property has been rented out before.  It could rented out in its current stage if you had to but it would benefit from a wee bit of TLC before you put it on the market.

Double click here to get more details about this property

The property is on the market with Your Move for a fixed price of £60,000.  The property will rent easily and you could expect to get £450-475 per month in rent.

This looks all very straight-forward so why do I need patience, ‘nouse’ and negotiating skills I hear you say.  Well there are a few interesting things about this BTL opportunity ... which are probably connected.

The property has been on the market since mid February of this year which is a long time in the current market for a property of this type.  Also, the property is on at a fixed price which is unusual at the moment as virtually every property is on at ‘offers over’.  Both of these things suggest that the seller is struggling to sell the property which is a good thing for a buyer so long as the property is worth having (which it is in this case) as it means less competition. 

I suspect that the reason the seller is struggling to sell this one is because it currently has a ‘shared ownership’ arrangement in place.  Share ownership is where a buyer gets a helping hand to buy a property from somebody like a Housing Association.  The owner will, for example, own 75% and the Housing Association will own 25%. 

The advert says that the property is ‘Available for Outright Purchase or 25% Shared Equity’.  So the good news is that you can buy the whole property which is a must for a BTL investor but the not so good news is that there may well be a few complications along the way to buying this property as you are having to deal with two sellers.  This is why you need patience, ‘nouse’ and negotiating skills but the prize is getting a good deal on the purchase because there is less interest from buyers.

If you like the look of this one, get in touch for a chat (6 Vicar Street, Falkirk; 01324 469840; falkirk@thekeyplace.co.uk).  If you want to have a chat about another property you have seen, get in touch as well and I will give you my impartial advice about the property.