Property Classifieds UK

Some property buyers will steer away from purchasing a repossessed property, wary that it will come with problems and they could be caught out. However, other people focus on buying this type of property because it offers the opportunity of snapping up a bargain. Buying a repossessed property is not necessarily a bad thing; in many cases, it is more than likely that you will get a bargain. That said, there are pitfalls to look out for to ensure you get the property you hoped for. Our guide to buying a repossessed property will help you manage the whole process with ease.  First, let’s give you an overview of what we mean by a repossessed property, particularly if you haven’t heard the term before. It is a property that has been taken back by the lender, usually the mortgage provider because the owner of the property has defaulted on their repayments. For most lenders, this is the last resort, and in most cases, they will try to resolve the matter with the owners before it gets to this

  Repossessed Property Properties are usually repossessed when an owner has defaulted on their mortgage and fallen into arrears, or the mortgage lender, who – as a result - applies to the courts for the issuing of a repossession order. This is usually followed by an eviction order. That’s how most repossession property enter the real estate market as property for sale. The sale of the property goes towards paying off the previous owner’s debts, and the lender is legally obliged to get the best possible price. In order to recoup their investment as quickly as possible, lenders will often price the property below market value to encourage a sale. The advantage of selling repossessed property at auction is that lenders can usually achieve a quick sale at a guaranteed minimum price. This is because the contract of sale at auction must be completed within 20 working days of the auction date. Homebuyers should be aware that the process of purchasing property at auction is quite diff

Whether you’re a property investor, developer or looking for your next home, finding the right property and negotiating a price is a time-consuming task. It's even more of a daunting project if you are moving to the UK from abroad and have to manage time differences. This has spurred on the growth of property sourcing agents who are able to source the right property and negotiate a good buying price on your behalf. Property sourcing individuals or agencies are usually good negotiators and if the aim is to buy a property at the best price possible, they can get the job done for you, particularly if you are a property investor or developer.  Let’s go into more detail about Property Sourcing and what it involves. Property sourcing agents, also known as property buying agents, do just that; they source potential properties on behalf of their clients looking for a property. Their role is to source potential properties, conduct an inspection – a viewing – of proposed properties to discus

Propelled by the coronavirus pandemic, the number of property scams is rising. One type of scam has even been featured in ITV’s recent drama, Our House. Whilst many thought the storyline was a bit far-fetched, in reality it is happening far too often. One of the reasons being put forward for the recent increase - £4.5 million was paid out as compensation to property fraud victims by the Land Registry in 2020 – is the pandemic forcing more property sales online. So, let’s highlight the top 6 property scams in the UK to help avoid you becoming the next victim. Read More