Mistakes to Never Do at Property Auctions

Property-Auction-FinanceProperty auctions are known to be quite a popular avenue to buy and sell real estate assets of all kinds.

By definition, it is an accelerated means to trade properties through an open cry competitive bidding. Of course, the highest bidder gets awarded of the rights to the acquisition. It is an effective and viable means to end up with a good deal but expert bidders and auction participants know too well that a simple slip or fallout can mean a loss. So to avoid falling into the death trap, below is a list of mistakes to never commit at all costs, brought to you by Singerviellesales.com.

Never prepare financing at the last minute. – Before taking an interest to offer, make sure that you have the assets to finish the exchange if you ever end up as the winning bidder. In many auctions, a security deposit will be asked and a winning bidder will be required to pay forthright expenses with the rest to be paid depending on the agreement of the contract, oftentimes in monthly intervals. Failure to comply shall make forfeit the winning bidder’s rights.

Never forget to set a limit. – As a rule of thumb, make sure to set a price range before going into battle. What are your financial capabilities and limits? How much are you capable of bidding and to what extent are you willing to? This makes sure that you don’t go overboard. It can be an emotional roller coaster out there. This is your safety net.

Never forego the budget phase. – One has to make sure that all financial resources obtained for the auction must be used accordingly. This is applicable even if one only wishes to buy a single asset.

Never bid blindly. – Abstain from buying without first assessing and checking. Before the bidding date itself, have a full handle about the properties you wish to acquire. You should double check that it is for sure what the seller presents it to be. Have it examined and reviewed to assess genuine worth, condition, useful life, ongoing costs, legal issues and more. In fact, go ahead and pay it a visit ahead of time to see it for yourself.

Never show your cards. – What we mean here is that during property auctions make sure to avoid divulging sensitive and significant information. Don’t tell anybody, not even the agents, of the amount you intend to spend on the closeout or in any of the properties being advertised. Keep in mind that agents and sellers can use such information against you to profit more. Good for them but not so for you. Plus, telling other bidders of your plans is an obvious case of suicide.

Characteristics of a Profitable UK Property Investment

profitable uk investment propertyGetting a quality UK property investment is crucial if one wants to prosper in the business of real estate and this applies regardless if you aim to resell or to lease out the assets in your portfolio. After all, you cannot expect to win if what you have is lackluster, right?

So to help you get on track at the onset, we give you the following characteristics of a profitable UK property investment. Gear up and be sure to take down some notes.

  • Location – This is perhaps one of the most important aspects that any investor must look at. There is actually more to location than meets the eye. Depending on the type of property and the market to which it was intended to, the site preference will vary. For example, a commercial asset will be better off somewhere with heavy foot traffic while this may not be exactly the same for residential spaces that need some peace and quiet and at the same time travel ease.
  • Convenience – Another factor that is very crucial is the convenience of the buyers or users with the property. Is it in close proximity to significant establishments and structures? Would transportation be easy both by driving and by public commute?
  • Safety – The building and the land must be safe enough for occupancy therefore structural integrity must always be assessed. Moreover, the neighborhood itself must also be safe and secure. Check the crime rates and even the potential for natural disasters.
  • Space – Is there enough space both inside and outside the property? How about in and out of the building? It would be particularly hard to sell or lease out something that’s too tight and cramped. Nobody wants to live and work inside a matchbox. Don’t forget that space also applies after all furniture and equipment have been settled in.
  • Resilience – Is the asset sturdy enough? What is its useful life? Does the building follow safety regulations and standards? Surely, nobody wants to invest in something that’s not bound to last long and provide decades of benefit.
  • Practical – Lastly, choose a UK property investment that is practical in a sense that it is reasonably priced. At the same time, find one that comes with low ongoing costs. These are the repairs and maintenance expenses expected to be spent on a regular basis after the purchase. If they are too high, chances are the return in one’s investment wouldn’t be as promising.


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