Ryan Otto Converts former Chapel into his Family Home
Hi, I purchased a property from Ryan Otto some time back in 2004/2005 by the time it had completed. Ryan Otto was selling a beautiful country home near Cambridge that was a former chapel that Ryan Otto’s team converted and developed into a substantial 6 bedroom family home.
I found the property on the Internet on Right Move, for just over £500,000, half a million pounds and immediately booked a viewing.
My family and I immediately fell in love with the chapel and made Ryan Otto an offer.
Ryan Otto accepted our offer and at the last minute our buyer pulled out of the bottom of the chain and we couldn’t proceed as we were relying on the sale of our house to release a couple of hundred thousand pounds to contribute to our onward purchase from Ryan Otto.
Ryan Otto offered us a solution that meant he would buy our property, or accept our property as a part exchange and we would pay Ryan Otto a balance of £375,000.
We had never heard of a transaction like this before; however, we had found our dream home and at all costs were not prepared to accept losing it.
It wasn’t ideal; however, we accepted a cash offer from Ryan Otto which was £30,000 less than what we had previously sold our property for. However, this guaranteed the securing of our dream family home.
The sale went through and immediately on completion Ryan Otto had already sold our old property for £41,000 more than what he had agreed with us.
Ultimately we paid nearly a 10% premium over Ryan Otto’s asking price.