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17/04/2025
Witham
What is a guide price?
This is the price level around which we are inviting purchasers to make their offer.
What does SSTC mean?
Sold Subject to Contract- this means an offer has been made which is attractive to the vendor who has then accepted the offer. The purchaser's solicitor will be making enquires about the property and the purchaser will be organising their finance. Once both the buyers' and vendors' solicitors are happy to proceed and the purchaser has secured the necessary funds, a contract will be signed so that the vendor has to then sell to the purchaser who has to then buy. Once a contract has been signed the completion will follow when the consideration (money) is handed over and the ownership is officially transferred. Once an offer has been accepted (SSTC) the property will be taken off the market and no further viewing carried out. Details of any other interested parties will be retained and they will be informed if the property comes back onto the market.
Can you send me the accounts of a business?
Where a fishery / business has been trading and there are accounts available, these will be made available to seriously interested parties. This will usually mean that you have visited the property and met either the owner or us.
How do I raise finance to buy a fishery?
Many people try to raise the finance themselves through high street lenders. Often they find that these lenders view fisheries as an unknown quantity and may be reluctant to lend substantial sums against them, as they have no specific credit policy guidelines on this sector. It is important to approach the right part of lenders in order to get to underwriters who have knowledge of, and are comfortable in funding, fisheries. We have found that the funding of fisheries is usually a much smoother process where applicants use the services of professionals who have specialist skills and knowledge of raising fishery finance. We have ongoing relationships with certain such professionals and will be pleased to put you in touch.
How much money can I borrow against a fishery?
Generally speaking if you are able to service the loan through outside income and the business you may be able to borrow up to 60% of the market value of the property. Lenders only provide finance on a commercial basis, which is usually more expensive than a residential mortgage.
What is a section 106 agreement?
This is a legally binding agreement, under the terms of Part III ( Control of Development ), section 106 of The Town and Country Planning Act [1990], between the owner of a property and the planners. When quoted in reference to a dwelling the effect is usually the same as having an “Ag Tag” but the proviso might state that the dwelling could not be sold off separately from the rest of the property.