Buying Property at Auction Book
Property Auctions Liverpool
New buying property at auction book for 2023 written by Tuna Fish Property Head of Property Sourcing
If you want to understand our track record, it's all in the book going back to the financial crisis of 2008. There are many lessons and strategies which are applicable in 2023. Many of the properties we are sourcing for clients are of exceptional value. Please call us to discuss.
Whether you're completely new to property auctions and buy-to-let or a seasoned investor, Property Auctions: Repossessions, Bankruptcies and Bargain Properties contains the expert information, insight and guidance you need to improve your skill and profits in any market climate. Whatever your interest in property investment; whether you want a quick return or maybe to fund your retirement long-term, Property Auctions will give you the skills to achieve your financial goals, and not just in rising markets but all market conditions; rising, falling or stagnating.
This book demystifies the acquisition of 'distressed' properties at auction and shows you how to make money whatever the economic weather. It brings together all of the key concepts that successful property auction investors focus on which, when combined, will give you a solid platform on which to base investment decisions.
The first part of the book details the tools and techniques to help you identify, analyse and filter properties, shortlisting your targets. The second part takes you through the actual viewing and buying process and the tactics involved to be successful.
Property Auctions also gives clear, concise and detailed guidance on raising finance and the auction legal process - two essential components of the journey which are key to success. All the principles are fully evidenced with real-world case-studies to show how the theory works in practice.
There is no better place to purchase below market value properties, whether to hold for the long-term or develop, add-value and sell.
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Property Auctions Liverpool
There has never been a better time to buy properties at auction whether for a new home or investment purposes. The pendulum has swung in 2022 from buying at private treaty through an estate agent, to buying bargain properties at auction.
Properties are generally sold at auction in order to achieve a quick sale to raise cash or because there are some issues which make private treaty more problematic.
Repossessed Houses for Sale Liverpool
Auction properties may be repossessed, have planning issues, legal issues, such as missing freeholder or title problems, or sold by housing associations to raise cash. They may be the subject of probate or a divorce. There are many reasons properties are sold at auction.
All of these factors present excellent opportunities for the discerning property investor looking to purchase below market value with a high yield.
So, where do you start?
Buying at auction requires similar due diligence to buying through an estate agent or receiver/administrator. The most important factor is selection of the property. It must fit your goals, whether yield, price or potential after refurbishment.
You must understand the location. This is critical, as 500 metres can make a massive difference in terms of the success or otherwise of a buy to let investment.
There are two major differences to buying at auction rather than through an estate agent:
1. Exchange of contracts happens when the gavel hits the block, or when the online auction time expires.
2. Completion is generally 28 days after exchange.
You must have cash, bridging or other finance in place.
The photo on the left is a real example of a property Tuna Fish sourced and bid on for an investment company client. The freehold house has a yield of 9.7% to 10% at the target rent. No refurbishment required.
Tuna Fish and associated companies have been buying properties at auction or through receivers for many years. We started with the opportunities presented by the 'Credit Crunch' in 2008. Properties were acquired in London, Leeds and Liverpool for clients with huge capital gains and income over the subsequent 14 years.
The example on the right was purchased during the financial crisis with a huge discount to market value.
Later, properties have been acquired solely in Merseyside and Wirral, from 5 storey, city centre office blocks, to traditional '2 up, 2 down' bread and butter terraced houses.
Buying properties at auction is a tried and tested route to acquiring excellent investment properties at significant discounts. Other than through receivers and administrators, there is no better way and as UK economic circumstances change, bargains at property auctions will increase, rather than decrease.
Now is the time for action!
Property Sourcing Liverpool
What happens next?
- Contact us and you will speak with the director responsible for property sourcing and auctions.
- Make a plan
- Tuna Fish will offer a property investment in Liverpool that fully meets your requirements. We will have viewed the property and undertaken an investment appraisal and estimated any costs should any form of refurbishment be required.
- Agree on a maximum bid and register for the auction.
- Tuna Fish will bid on your behalf, acquire the property, exchange contracts, and complete in 28 days.
- Refurbishment or renovation works or tenant immediately. There will be no fee to source a tenant and we can provide a rental guarantee. See the rest of the website for our lettings and property management services.
