How to buy property- CHEAP!!! (Buyers Guide: Houses)

Member Name: Landmark

Product:	Buyers Guide: Houses
Date:	19/05/01 (940 review reads)
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Being a property developer I thought that I'd let you all in on a few secrets on how to but property cheap. I buy property on a regular basis and always at a great discount to market value. The main way not tobuy cheap property is through Estate Agents as they will know what a property is worth and will advise their clients not to accept low offers. the only way around this is to write to all Estate Agents in your area witha description of what you are looking for and offer them a £1,000 bonus for finding it. As we all know they are a greedy bunch and you will start to get about 5 calls a day from agents with new properties all trying to get the £1,000. Another way to get property cheap is to buy property that needs renovation. You might think that you will get property cheaper if it needs work but the difference in pice is equivalent to the cost of the work - wrong!!! If you take a typical property that needs work on the market for £50k have a look round at the work that needs doing add it up onto the price and look at prices in the area. If the work is going to cost £10k then you will find props in the area are going for at least £75k. The best way to get property cheap is to buy from property dealers. These are people who will buy a £40k property that needs say £8k of work with an end market value of £65k. Unlike a property developer who would modernise the property then rent it or sell a property dealer will sell it on for a quick £5k profit rather than £10/12k in the long term. How do I get hold of property dealers you ask. Look inall your local newspapers in the property wanted section and you will see a list of ads asking for properties in all areas, any condition etc for quick cash sale. These are your local property dealers. They buy property off the open market at huge discount for quick cash sales- usually around 7 days. If you ring thema dnexplain that you are looking to buy a property then they should have a couple for sale each and maybe you will
have a total of about 20 props to look at. Be warned however than property dealers are not the most honest people and it is highly recomended that you have a survey and don't listen to all that the dealer tells youas at the end of the day they are just a salesman. What about auctions? I have found over the last 12 months that auctions are realising better prices than most Estate Agents. This uis because they have been exposed to the public and they think that there are mega-bargains to be had. There are occasionally but nothing like there used to be. I have also found that a lot of property dealers are putting their properties to auction and using the swing in the auction market to their advantage. I hope this is helpful if you require any further info please e-mail me.

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