Repossession property is often sought by property investors on the premise that this type of investment property can be bought at a bargain price and sold at a profit subsequently. The price of a repossessed property is often the main consideration investors have when considering whether to buy or not. If a repossessed property can be purchased substantially below market value, then price alone may override other considerations that an investor should normally consider. Price should be considered along with the condition, size, type and location of the property. Property auctions frequently have repossession property, however buying property this way carries a hight degree of risk.
It is often wrongly assumed that repossession property will be in a poor state of condition. This is not the case. However, careful due diligence is required if the repossessed property requires renovation.
The greatest danger and most common fault in buying a property which requires renovation is that the cost of carrying it out is often under estimated. Additionally, the time involved in carrying out any renovation that may be required may lead to unforeseen delays, which in turn may hit the profitability of the investment. The majority of property investors want to achieve the maximum possible gain with the minimal possible effort, in the shortest period of time.
UK Repossession Property Overview
Buying a repossession property does not automatically mean that an investor will pick up a bargain, however, with the right due diligence carried out it can be very lucrative.
Propertyinvestment.co.uk is as a buyer’s adviser focusing purely on UK residential and commercial investment property . Our service enables our clients to profit from our experience, contacts and purchasing power to negotiate discounts or financial incentives that might not be otherwise available to a single investor. Our recommended investment property is typically provides a rental income ranging from 6% – 10% and has been discounted by 15% – 30% of the market value.
Call us today to find more about investing in repossession property and how we can help you achieve your property investment goals.