X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Auction Tribe

    Advice for an auction newbie

    Hi Tribe,

    I’m looking for a BTL in Oxford and I’m finding that they are above my limit - (about £20k more than I can afford).

    I’m considering a property auction. I’ve only bought 2 proprieties through the usual method in the past so it’ll be my first auction.

    1. Would you advise against going to an auction given I’m a newbie?

    2. Can you offer any tips or dos and donts for a first timer at an auction?

    Thanks

    M

    0
    0

    Hello Matthew

    I have limited experience at auction, but I still pay for it today.

    Was not complete disaster but you are essentially buying a property with  problems.

    It's up to your due diligence and experience to discover before purchase what that that is.

    What is experience of legal packs?

    Do you know how to identify property defects and more importantly arcurately cost remedial works against time taken.

    In today's market at this stage of property cycle you will properly end up buying at close to market value anyway.

    BUT

    if Lucy and Martin have been providing you with periodic weekday "Property porn" , well reality Vs fantasy.

    Don't believe me watch series21: episode 62. Taxi driver buying commercial unit to live in.  O M G

     If you are on tight budget then I would say avoid and be patient. Recipe for disaster if in my opinion.

    this is my experience and should in no way stop you making a decision towards buying. 

    0
    0

    Coming soon Investorsk8.com

    Wisdom - an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs. 

    Do some research and due diligence.

    In particular Vanessa post with further relevant links.

    0
    0

    Coming soon Investorsk8.com

    Wisdom - an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs. 

    This is a duplicate post by the same member.

    Please continue the conversation here:

    Property auction tips for a newbie

    This thread is now closed.

    0
    0

    [Image: 4995468760_6be86655d4_t.jpg]
    general operations director, site owner and moderator - propertytribes.com