Proof Of Funds
Larmer Property are delighted to bring to the market this superb renovation project at Tandrageebane, Ballybay Road, Monaghan, Co. Monaghan. The property comprises a detached 3 bedroom bungalow with detached garage, and is located on an elevated 0.71 acres site. As the property is derelict and has not been lived in for well over 2 years, an owner occupier can apply to the council for grants to the maximum value of EUR70,000 on completion of their renovation. This offers the new purchaser the opportunity to renovate this existing three bedroom bungalow to their own style and taste. The property is superbly located just off the Ballybay road out of Monaghan town, and only 1.5 Kms from the town and all local amenities. There are services already connected to the property, Electricity, Septic tank, a Telephone connection, option to connect to the Corcaghan group water scheme, and finally there is broadband readily available in the area. The residence comprises an Entrance Hall, Sitting room, Kitchen, Bedroom 1, Bedroom 2, Bedroom 3 and Bathroom. Contact the office today 04774333 to make further enquiries.
Porch - 1.53m x 1.09m Hallway - 3.64m x 1.12m Sitting Room - 3.65m x 3.62m Kitchen / Dining Room - 3.84m x 3.36m Living Room / Bedroom 1 - 3.67m x 3.7m Bedroom 2 - 3.67m x 3.609m Bedroom 3 - 3.57m x 3.63m Bathroom - 1.73m x 3.34m Rear Hall - 3.3m x 1.089m
Detached bungalow with detached garage Ideal renovation project Grants of up to €70,000 available Oil fired central heating Telephone connection Broad band available Well water Option to connect to GWS Septic tank located on-site Great first time buyer project Super residential area
Take the Ballybay road out of Monaghan. Take the first road to the right just after Tommy Martin Fuels, and the house is on first on your left.
By appointment with Larmer Property Consultants Ltd.
Proof Of Funds
Before we can take and offer on a property, we need to have had sight of proof of funds. This is simply, as the term suggests, proof that the buyer has the financial means to complete the transaction at the amount of his/her offer. There are a number of means by which someone can finance the purchase of a transaction and equally a number of methods by which proof of funds can be conveyed to an agent. Examples of Proof of Funds: Cash + Mortgage Approval from a Financial Institution (mortgage buyers): This is the most common proof of funds for those financing a transaction partly with cash and partly with a mortgage. To prove a cash balance, a bank statement or screenshot of same will be acceptable. Alternatively an email from a bank official confirming that a sufficient bank balance is in place is acceptable. To prove that a mortgage is in place, we require a letter of offer or approval in principle from the lending institution. The combined amount of the cash and mortgage approval will need to be at least the amount of your offer on the property. Cash in Bank (cash buyers) We require a bank statement(s) in your name with cash balance(s) equal to or in excess of your offer amount. Alternatively a letter from your bank or solicitor confirming a cash balance of at least your offer amount is also acceptable. Selling an Existing Property Very often, a buyer will be financing the purchase of a property through the sale of an existing property. From a vendor’s point of view, it is a little bit risky to accept an offer that is subject to the sale of another property - this is referred to as being in a chain and if for any reason the sale of that property falls through, the offer then no longer holds any water. If trying to use the sale of an existing property as proof of funds, an email from the selling estate agent as to the offers currently on that property will give some comfort to a vendor and is probably the best thing to do in this situation.
Date created: Jul 24, 2023