Hi
Just wondering what your thoughts and recent experiences are regarding buying and selling packaged deals in relation to the legality of NMD. Deals are usually sold for around 6k total money in provided the property is at least 25% below rics value so can this continue ??

I'm still doing them. It's all about control in the current market.
We don't offer deals which are not direct from vendor (not an agent of agents).
Client monies are always held in client account and we concentrate on a small local market. If you follow these principles then I believe the business model I follow will continue to grow.
Daniel
Property Investors Wales - Below Market Value Property Investment

Hi Daniel
Thanks for your reply but I'm still unsure about the buyers liability.
I've noticed the recent deals on Hanif and Deeps site (Ready Made Deals) are saying you have to buy in the traditional manner which includes a deposit.Is this something specific to those deals perhaps ?
I almost bought a property in this way during the summer but I just missed it. I am also on a web based course which will cover this but not for some time yet.

There is a great risk in doing NMD deals. As for package deals my advice would be do not pay more than maybe a few hundred quid (to show willing) regardless of who it is. Please check out who you are dealing with and only use your own solicitor regardless of what hype is given

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North Manchester letting agents, property traders, houses bought for cash, finders fees paid,mike@brentwoodinvestments.co.uk

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Hi Barbara,

To clarify, yes all of our deals are now being done in the traditional way. As Mike pointed out above, be careful out there and make appropriate checks on anybody you are looking to buy from - the Tycoons forum and others are great places to ask for feedback from past customers.

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Parmdeep Vadesha
Managing Director
Vadesha Properties Ltd

“the species that survived were not the most intelligent –they were the most adaptable to change” Charles Darwin

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If I understand you correctly you were asking can you package deal, not can I still buy packaged deals?
My response was to you as a packager whereas I think Mike and Parmdeep were more about as an investor buying.
We still offer deals packaged as I'm happy with what my advisers think along with my own experience and knowledge.
At the end of the day I have some investors who will buy one deal from me cash and others who have £15K and want 3 properties. Regardless of what contributors on here say about NMD some investors & solicitors are happy to transact in this way and others are not.
Hope this answers you question.
Regards,
Daniel

P.S. I'm not a regular poster on here so please can all the "NMD is dead" brigade not jump on my back with "explain why NMD is OK" questions. Its Christmas and I'm off to enjoy it.

Thank you all for your help.
Have a lovely christmas.

Barbra
There is money to be made in pac kage deals however for clarity i would suggest that you take NO MONEY upfront. You are best doing this by allowing the other party to use there own solicitors and by being transparent and honest with the lenders. I am sure that there are still creative ways to do NMD but the lenders will eventually catch on. If the NMD is still legal then there is no reason not to let any potential buyer use there own solicitor.
Propertybuyerwales is shouting from the same roof tops as PM and look how far he fell..


Merry Christmas.

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North Manchester letting agents, property traders, houses bought for cash, finders fees paid,mike@brentwoodinvestments.co.uk

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Thank you your comments are appreciated
Merry Christmas