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Buying running down house
ludwip
Posts: 153 Forumite
Hi All,
Do you have any idea of where can I buy running down property as would like to refurbish it. Don't have a lot money that's why I would like to go for cheapest possible option. By the way I leave in High Wycombe between Oxford and London.
Thanks for help
Loui
Do you have any idea of where can I buy running down property as would like to refurbish it. Don't have a lot money that's why I would like to go for cheapest possible option. By the way I leave in High Wycombe between Oxford and London.
Thanks for help
Loui
0
Comments
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At a property auction? I'm not sure you will find much, everybody else had the same idea ages ago and most of the cheap properties tend to get snapped up and redeveloped pretty quickly.
0 -
As you "don't have a lot of money", how are you going to:
a) Raise the mortage to buy this property - you will need a 10% deposit.
b) Raise the money to renovate the property once you've bought it.
??"You were only supposed to blow the bl**dy doors off!!"0 -
Lots of people like to renovate, so properties in need of work don't generally go for a huge discount. Often they are sold through estate agents just the same as anything else - just tell the estate agent you are looking for something in need of work.
If you did decide to buy at auction, you stand much more chance of getting a bargain than you did a year or so ago - but auction sales must be completed within 28 days, so you need to have your finance sorted in advance of the auction, something which is probably getting harder to do.0
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