⭕ How Do I Find Repossessed Property To Buy in London?

It’s no secret that repossessed properties in London can be great investments but the problem is finding them.

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http://propertyinvestmentsuk.co.uk/repossessed-properties-london/

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1/ LPA (Law of Property Act) Receivers

If you are looking to buy many repossessed properties at once then LPA receivers are one of your options. An LPA (Law of Property Act) receiver is a receiver appointed under a mortgage or charge and usually sell multiple repossessed properties that were once a part of an individual property portfolio.

As most investors are not looking to buy in bulk this process doesn’t suit most people.

For a definition of LPA receivers see this definition from Practical Law (Thomson Reuters)
http://uk.practicallaw.com/9-380-8575

2/ Property Auctions

A few of the properties at your local auction will be repossessed properties but they won’t explicitly be described as such in the property descriptions. You might be able to tell a property is a repossession from the photographs (if there are any). Or you might see something in the description that something to the effect of “being sold by receivers” which will be a good indication that it’s a repossessed property.

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FOR MORE INFORMATION ON AUCTIONS SEE

✓ Can You Still Buy Bargain Properties At Auctions?
http://propertyinvestmentsuk.co.uk/can-you-still-buy-bargain-properties-at-auctions/

✓ How To Find Bargain Houses For Sale At Auction
http://propertyinvestmentsuk.co.uk/how-to-find-bargain-houses-for-sale-at-auction/

✓ Should I Use Bridging Finance To Buy Properties At Auction?
http://propertyinvestmentsuk.co.uk/should-i-use-bridging-finance-to-buy-properties-at-auction/

✓ What Are The Pitfalls & Downsides To Auction Properties?
http://propertyinvestmentsuk.co.uk/what-are-the-pitfalls-and-downsides-to-auction-properties/

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3/ Estate Agents

Estate agents can be cagey when it comes to letting potential property investors know that houses on their books are repossessed properties so as a property investor you need to know what to look for. If you look carefully at the photographs of the property in the listing you might see tape or signs up saying that the water has been switched off. You might see the previous owner’s possessions with a notice that they must be collected in 14 days.

Also, estate agents are duty bound to sell repossessed properties at the best possible price. With this in mind, another thing to look for is what marketing has already gone into the property. With repossessed properties, if an offer has already been put in, then the estate agent will put a notice in the local paper saying something to the effect of, ‘we have an offer of x amount on this property but welcome higher offers’. Generally, this only happens with repossessed properties.

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FOR MORE ON REPOSSESSIONS SEE

✓ Discover How To Quickly Find Hidden Repossessed Houses For Sale
http://propertyinvestmentsuk.co.uk/repossessed-houses-for-sale/

✓ Looking To Buy Repossessed Houses For Sale In The UK?
http://propertyinvestmentsuk.co.uk/repossessed-houses-for-sale-uk-3/

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