Currently viewing the tag: "auctions"

Investors Need To Wake Up To Property AuctionsAre you a property investor who is tired of pounding the pavement, searching for great Below Market Value (BMV) property deals, only to lose out to another ‘quick-off-the-mark‘ first time buyer?

Are you a property investor who is tired of waiting by the phone for estate agents to call with one of those ‘bottom drawer‘ property deals… before they go in the window?

And are you a property investor who is tired of the low-to-zero response you’re getting from all those leaflets you’ve printed and delivered?
(hint: the market’s moving! You need to know why…)

Want to know why NONE of these rookie property investor methods work, and want to know how the professional property investors do it?
(AND how you can COPY exactly what they’re doing right now!)

Warning: This IS NOT the weekday afternoon light-entertainment stuff you’ve seen on TV…

Continue reading »

More Opportunity At Property Auctions

More Opportunity At Property Auctions

Property Auctions Not Getting Hammered!

There may be more opportunity for more people to buy property at auction after new figures released this week showed there was a little less activity by professional investors at the property auctions held across the UK in July.

The property auctions market didn’t take the expected hammering, with the number of properties offered as auction lots down by 6.3% compared with July 2011. The amount of properties sold at auction was also down on July 2011’s figure by 6.8%.

Data from the Essential Information Group, which monitors all property auctions in the UK, revealed that there were 188 property auctions across the UK during July 2012. At those property auctions:

  • 3,762 properties were offered for auction
  • 2,621 properties sold at auction

Property buyers who were seeking to purchase at the auction had a success rate of 69.7%.

With a fall in professional property investor activity there could be more opportunity for novice investors and even struggling home buyers to purchase property at auction, if only they knew how?

MyPropertyPowerTeam.co.uk provide an information page on property auctions, including what to look for and what to watch out for, visit the page by clicking here

David Sandeman, Managing Director EIG said “Challenging conditions were continuing to affect the entire property market”.

 Novice property investors may not have set foot inside a property auction room before and may be unsure of what to expect. With this in mind we are happy to provide a video clip from inside the auction room provided by our friends at NetworkAuctions

30% of buyers who bid successfully at property auctions are let down by mainstream lenders, say experts.

Banks are pulling out of property deals after property investors have made successful bids at auction, resulting in buyers struggling to raise finances in order to meet the 28 day completion deadlines set by many auction houses, resulting in a great deal of business for bridging finance companies.

National Development Manager at Auction Finance, Scott Hendry, said:“It’s all too common for high street banks to pull out of funding an auction transaction because of the short timescales for completion or the property has no kitchen or bathroom. Yet most people bidding at auction want the property quickly so they can renovate it to sell on or rent out at a profit. Sometimes bidders assume that the funding has been agreed by the bank or lender when in fact they only have an ‘agreement in principal’ which is wholly different from a real approval to borrow the amount required for the property. We estimate that in 2012, so far, 30% of property investors we have dealt with have had to rely on short-term finance to fund their purchase because their previous lender has let them down. In some cases they have been able to agree long-term funding with their bank at a later date but this process just takes too long for someone trying to secure a good investment opportunity at auction.”

Top reasons why auction property deals fall over:

  • Bank pulls out of the funding due to short timescales
  • Bank refuses to fund because the property has no kitchen or bathroom
  • Borrowers assume the funding has been agreed
  • Delays in depositing the funding from the bank
  • Last minute revelations on the borrower’s credit check prevent funding

A short-term bridging loan secured against other properties in a portfolio is one way to avoid being let down at the last minute.

Figures published last week show that the premium paid by buyers of new UK residential properties has widened dramatically following a 6.1% rise in prices of new-build properties over the last 12 months.

The website Smartnewhomes reported that the average price of a new build residential property was £228,909 in January 2012.

The UK Land Registry reported that the average residential property price in England and Wales for the same month was £161,545 – an annual drop of 1%.

The Land Registry’s survey is based on all residential property transactions, including new build homes, but excluding property repossessions and property sold at auctions.

It means that the premium paid by UK residential property buyers for new build properties is more than £67,364.

Repossessions, Below Market Value Properties and Large Residential Portfolios For Sale

Then you need the services of a property company that are Investing In Your Property Success !

If you are a serious property investor and looking for great property deals in terms of price quality and yield, take advantage of Connect-UK’s FREE MEMBERSHIP

Connect UK are able to source and supply properties with real value in terms of high yield and purchase price to you in any location nationwide.

Investors are very demanding when it comes to property investment and know exactly what they want or to be precise “what they don’t want”!

Connect-UK was established to source and supply small to large portfolios of repossessions, BMV and discounted properties to serious investors nationwide.

If you are a property investor and are looking to purchase portfolios (which includes new build from well known and established builders), we can help you as we have a regular flow of properties/portfolios.

As an “investors agent” we are in direct contact with the sellers in all circumstances which means you can take advantage of the real discounted prices and cut out the many layers of so called middle men who add their own commission to the asking price, thus making it too expensive to buy.

For more information please register your details free, with no obligation at www.connect-uk.co.uk or speak to our investment team on 01293 529993.

If you are looking to purchase multiple units please contact:
Matt O’Halloran – Sales Manager – matt@connect-uk.co.uk

If you are looking to sell your portfolio please contact:
Lloyd Young – Acquisitions Director – lloyd@connect-uk.co.uk

For any other enquiry please e-mail: investment@connect-uk.co.uk

Whether you are new property investor or seasoned portfolio holder – Connect UK will help you source the ideal investment which matches your criteria quickly and effectively, delivering to you the best value added deals possible, each and every time…

Read More

There Will Never Be A Better Time To Invest In Property

MyPropertyPowerTeam.co.uk helps property investors and landlords build their own property power team to enable them to profit from property - Visit our main site now!