BMV Websites

Mortgagefreeman

Does anyone here know of websites that advertise Properties for sale at BMV ?

chewmylegoff

IsaacHunt wrote: »

Does anyone here know of websites that advertise Properties for sale at BMV ?

You can find sites which claim to sell property at below market value using Google. Of course because market value is the price at which a willing seller and a willing buyer are prepared to transact within a particular timescale, it is pretty difficult to actually buy a property at below market value, especially one which is advertised for sale on a website as the seller isn't going to sell it to you for less than someone else is willing to pay for it.

If someone claims they are selling you something for less than it is worth they are probably lying.

purch

I thought it meant something to do with Body Mass :eek:

Loughton_Monkey

I don't believe there are such sites.

However, I recall many years ago reading about one outfit who claimed that they went around with insider knowledge buying up mainly distressed houses at below market value. Can't remember if they were trying to sell you the houses, or invest with them, but either way any barge pole is too short.

It is (in my view) impossible to buy any house at below market value in today's world. Yes, there are sellers who must have a quick sale, or are perhaps are weak negotiators, in which case maybe there is a bargain to be had.

Some people claim that the auctions offer houses below market value, but this is rather false given that an auction is about the paragon of the 'free market' working. Typically these are distressed houses. Some cute little guy will buy for £88K, put in £22K of 'improvements' and sell at £120K claiming to have made a profit. Maybe he has, but he has not costed his substantial labour, his buying/selling expenses, and the new buyer often eventually notices the corners that were cut!