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Your complete how-to guide - digital signature licitness for real estate in united kingdom

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Digital Signature Licitness for Real Estate in United Kingdom

In the United Kingdom, digital signature licitness for real estate transactions is a crucial aspect that ensures the legality and security of property agreements. With the rise of technology, using platforms like airSlate SignNow can streamline the process and provide a reliable solution for signing and sending documents electronically.

How to Use airSlate SignNow for Digital Signatures:

  • Launch the airSlate SignNow web page in your browser.
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  • Upload a document you want to sign or send for signing.
  • Convert your document into a template for future use.
  • Make necessary edits in the file, such as adding fillable fields or inserting information.
  • Sign the document and add signature fields for recipients.
  • Click Continue to set up and send an eSignature invite.

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How to eSign a document: digital signature licitness for Real Estate in United Kingdom

hi it's stephen here the difference between the north and south has long been established and it's not just the accents as a property investor buying up north is tempting as property prices are more affordable and you can get into a buy to let property with a lower deposit amount rents can be good which means you get a good return on your money invested so the question is should you be buying cheap houses up north what are the risks associated with buying up north and do the benefits outweigh those risks in this video i'm going to be going over what are the pros and the cons of buying property up north well the biggest risks are as a property investor with buying property up north and whether the returns are worth accepting those risks when buying a buy to let property up north when we're looking at like for like property comparing the north to the south we can see that the northern property is cheaper than the southern property and this essentially comes down to supply and demand looking at the average property prices across england we can see that the south is more expensive than the north there's nearly a four times price difference when we're comparing liverpool to london which means that you could buy four buy to let properties in liverpool to one property in london historically this is because there's less population in the north compared to the south and therefore there's less demand for housing than there would be in the south more jobs in the south mean that the younger population moved from the north to the south to meet the demand for the jobs in the south this increase in population therefore has an increase on supply and demand in the south and therefore increases the property prices in the south because there's more people working and there's more people looking for housing this has a knock on effect to the north because there's less jobs there's less demand for housing and therefore the property prices in the north do not appreciate as much as those in the south so let's talk about the pros and cons now of buying a buy to let property up in the north so the pros are buying in the north is that you're likely to go and get a better yield up north than you would do in the south you've also got a potential for some capital growth but predominantly why buy to let investors buy the north is for cash flow you're buying an income you're not buying capital growth capital growth generally can't be relied upon in the north however saying that in the last 12 months capital growth in the north has been amazing as we can see by looking at this data from land registry we can see that the top cities that have been performing over the last 12 months for capital growth have been in the north and surprisingly as an average over london hasn't increased in value over the last 12 months probably prices up north are generally more affordable and this translates into a lower purchase price which means that you pay a lower amount stamp duty because it's stamp duty is a percentage of that purchase price this also means then the deposit that you need to save up for is going to be a lower amount because again the deposit is a percentage of that purchase price and because the property price is cheaper your deposit and your stamp dues are going to be cheaper looking at these rental figures from april 2021 from homeland we can see that the northern regions have actually increased in rent the most out of all the regions that they're looking at there across the uk and amazingly london as an average has dropped its rental rates over the last 12 months over five percent buying up north also gives you the opportunity to own multiple rental properties where you might be able to only afford to buy one or two buy to let property in the south with that same amount of cash outlay that you'd have to put down as you deposit for that one or two properties you could then go and buy three or four properties up in the north with that same amount of deposit money from this data that we can see from right move they're showing us the biggest performance over the last 12 months where the annual change has been above 11 we can see that seven out of the top ten highest risers are located in the northwest of england out of the 19 000 cities which have experienced double-digit growth since march 2020 18 are situated in the midlands or in the north this has been fueled by the fact that there's been a lack of properties available on the market in the last 12 months coupled with the stamp duty holiday that was introduced by the government in july 2020 these have all contributed to the recent surging prices in these areas over the last 12 months manchester has also been named the most livable city in the uk by the economist intelligence unit in their annual global survey so when we're looking at the cons then for buying properties up north what other things are repairs and maintenance costs now these repairs and maintenance costs are going to be the same no matter where the properties locate it doesn't matter if it's in the north or in the south east or west the cost of a boiler is the same no matter where you're located and it's the same for fixing roofs fixing leaks fixing blocked toilets all of these costs are the same no matter where the property is so it doesn't get cheaper just because you're in the north therefore if you're generating a lower amount of cash because your property is up north the cost of say fixing a boiler which could be two thousand pounds could wipe out all of your profit for that property in that year so you may find if you've got maintenance repair issues your profits are quickly eroded with buying properties up north tenant demand can also be an issue with properties up north because historic there's been less jobs up north which then can lead to longer vacancy periods where your property is empty and not generating any rent you may also find tenant quality is an issue because there might be tenants on a lower income and the job security might not be as great as it would be further south because there's less jobs around and therefore that security of that rent payment each month may not always be as great and secure as it would be if you weren't buying up north you're likely going to need a property manager to look after your property because i'm assuming that you're not going to be buying in a place that's local to where you're living and you likely might not want to do any property management yourself some people say you should invest where you live which i don't really agree with i think as long as you do your due diligence on the numbers and on the property and on the area and on the tenants it doesn't matter where you invest then you can invest anywhere in the world if you want to as long as you do your right due diligence but having a property manager is going to erode your profits with buying a property up north probably would have a property manager anywhere so it's not necessarily a specific one just for buying a property up north cheaper houses are generally in areas where there's probably a bit more crime and therefore this is going to potentially lead for you to have an additional cost when it comes to insurance additional costs when it comes to security you might be concerned if you get vacancies that you become susceptible to vandalism or you might even get squatters and things like that you might then get into a whole load of litigation to get rid of squatters and during all of this time you're not generating any rent and you've got a massive void period which is just eroding any profit that you're making from that property you might find that buying properties up north is actually going to give you more aggravation and this could be because of the type of tenant that you're getting or it could be because you can then have multiple properties the more properties that you're dealing with you're going to be dealing with property managers you're going to be dealing with multiple tenants maybe multiple property managers so all of these touch points create aggravation some may argue that by having more properties you're mitigating the risk as you're spreading the risk around multiple properties which in a way it does because if one of those properties becomes vacant you've still got another three properties say out of the four that are still income producing whereas in the south if you just had one property and that becomes vacant you got no rental income anymore but at the end of the day having multiple properties generally will mean that you've got more aggravation so let's talk about the biggest risks that come with buying properties up north the biggest risks outside the property actually buying that property and all the issues that can potentially come around with checking that you're getting a good sound property is the fact that you might get more tenant hassles and you might get more vacancies as long as you understand that these are your biggest risks and that you go into it with your eyes wide open that you're going to be buying in an area where you know if there's a good amount of tenant demand are you going to have vacancies are you going to have these void periods between tenants so you want to be mitigating these risks and talking to different agents about what's the demand for this type of property should i be buying a three bed or a two bed what's the tenant profile look like are they families are there young professional couples asking these types of questions will help you mitigate that risk and make sure that you buy the right type of property in the right area for the right type of tenant so let's look at an example then just to see how the names would stack up if we were to buy a property up north and see if we think that the risk is worth the return that we'd get from that type of property so i picked a location that was on that top list of northern suburbs have gone up in the last 12 months and this location is lee in greater manchester and we got this property on the market for 89 950 pounds and let's say just for simplistic sake we're going to get this property for 89 000 pounds looking at properties that are rented in the area right now i can find this three-bed semi-detached property that's rented for 795 pounds this property is slightly better interior compared to the one that we're buying but for the purpose of this exercise let's say we can get 795 pounds for our three bed semi so rule of thumb a lot of property investors work from is the one percent rule now how this works is that you take the purchase price you take one percent of that purchase price and is your monthly rent the same or better than that actual one percent value if it is that means that you're probably buying a positive cash flow property so in this example we're taking eighty nine thousand pounds one percent of eighty nine thousand is eight hundred and ninety pounds per calendar month is the rent that we want to be achieving for this particular property but we can see that this fails that one percent rule because we're not getting 890 pounds per calendar month we can only achieve 795 pounds but let's carry on and just see what the numbers work out to be so we're working up a purchase price of 89 000 pounds we're then going to have our deposit of 20 which is 17 800 pounds we've then got some stamp duty which is going to cost us 2 670 pounds and we're also going to have some legal fees closing costs settlement costs which are going to cost us let's say 1500 pounds so in total the cash we're going to need is 21 970 pounds we then want to leverage our money and we're going to get a buy to let mortgage at 80 percent we can get a rate of 3.29 with an 80 loan to value and that mortgage is going to cost us 348 pounds for canada month that leaves us with a cash flow of 447 pounds per calendar month but we're not done there because we've got additional costs that we need to be included in our numbers so we've got costs for maintenance and repairs and let's say that's 10 and let's round that up to 80 pounds per month we're also going to have insurance and vacancy rate let's say that those two are again another 10 another 80 pounds we're also going to have a property manager at 10 so that's another 80 pounds that leaves us with a net cash flow of 207 pounds per calendar month or 2 484 pounds per year and that 2 484 pounds a year only leaves us with a 2.79 percent net yield on our 89 000 pounds purchase price but one of the most important things that i always look at is what's my cash on cash return what i mean by this is how much cash am i putting down and how much cash am i getting back from my cash put in so how we work this out is we take our net return which is 2 484 pounds per year divided by our cash down and our cash down was 21 970 pounds this leaves us with a net return of 11.3 percent so while this property failed the one percent rule when we drilled down a bit further it actually worked out to be not a bad investment on a cash-on-cash return basis because how many of you wouldn't want to buy a property that generates you an 11.3 return so one of the questions i always ask myself which is my investing mantra is can i make the most amount of money in the least amount of time the least amount of risk and the least amount of aggravation and in this case up in the north of england well we certainly can as we've shown with this example is that we can get a return of 11.3 net cash on cash return with this property in lien greater manchester that's available on the market right now at the time of this recording there's going to be a certain amount of aggravation with residential buy to let properties whether it's up in the north or whether it's in the south not sure if you're going to get more aggravation with properties up in the north possibly because of tenant quality but if you're putting a property manager in there to deal with all of those hassles that's kind of your buffer and as long as they do a good job and put a tenant in there that pays their rent each month and minimises the void periods i guess it doesn't really matter where you buy that property i think the return is then worth that risk so if i was just starting out and i wanted to generate cash flow i wanted to generate an income i'd be looking to buy properties up north because i can get into those properties with a lower cash deposit and get on with my investing journey sooner rather than wait to save for a larger amount of money meanwhile capital appreciation is happening in the background and those prices that were at that amount of money if it takes me another year to save up my deposit for something in the south i might find that that property has now gone up 10 20 even 50 000 pounds over that time so if i was just starting out and i wanted cash flow i wasn't too worried about capital growth that's just the cherry on the top that just is a by-product my main focus is for cash flow i'd be looking to buy properties up north thanks very much for watching i really do appreciate it if you've watched it all the way through and you've enjoyed it please subscribe to my channel as i talk about property investing and entrepreneurship feel free to follow me on instagram and see what's over there and i'll see you next time

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