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Multi-buy Option Deal?


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Afternoon all,

I have recently had an offer accepted on a Flat, with an unusual condition attached. This is the situation:

Vendor owns all four flats in the building (and the Freehold). He has put all four flats on the market at the same time. The condition of sale for the flat I am trying to buy (FFF) is that he will only sell it if he can sell (at least) two of his flats, because he needs to raise a certain amount of capital to inject into his (unrelated) business. I do not know how much money he needs to raise, but i understand he has a threshold of two flats because of the CGT he will be liable for.

So far there has been little interest in the other flats, so I am worried that my deal may fall through. I am ready to move on the FFF (75% Mortgage DIP and deposit funds etc.) now.

Q1: What are your initial thoughts?

To add to the mix, I would be interested in purchasing the TFF (in addition to the FFF), but I do not currently have the funds in place. I am planning to re-finance two of my existing properties in Sep to release equity for another purchase.

Q2: Can anyone think of a creative option deal that might work for both me and the vendor, which might incorporate buying one flat now, and another in the Autumn?

Appreciate any and all advice, thanks!

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