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Wednesday, February 12, 2014

Auction properties 35% distressed sales

Anybody who thinks that the credit crunch/financial crash/property slump is over is kidding themselves.  Evidence.  Have a look at Allsop's auction report for 2013.  Hidden amongst the tables and data is the fact that last year still 35% of the sales were by distressed sellers ( administrators / liquidators/mortgagees).

It all proves that if you have the cash even 6 years on from the crash there are opportunities to profit from the property downturn.  One word of caution is that just because the seller is distressed it doesn't mean that you will get a property investment bargain at auction.  There are lot's of other investors looking at doing exactly the same and the bidding process can artificially force up prices (we are all competitive).  The secret is to be patient and know the market and obviously have the right finance in place.  Then when a bargain does come along ...then you can pounce! 

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