Property Auctions and What You Need to Know About Them

property-auctionBidding to win over a property may not be on anyone’s first line of sight when investing into real estate but the platform sure has its slew of benefits. If you find property auctions fairly new or are hesitant to try it out, today we’ll help you get to know more about it. After all, it takes a deeper understanding to truly identify if something is worth a try.

By definition, property auctions are a form of intense and accelerated real estate marketing method that involves the sale of any property — residential, commercial, industrial  or mixed — through open cry competitive bidding. In other words, interested buyers bid against one another for the assets, each of which are sold to the person offering the highest price.

What’s great about this type of platform is that it comes with so much potential. An investor favorite would have to be the cost savings. What? Yes, you’re reading it right. With the right tricks, it is very much possible to score an asset at an auction for a price lower than its market value or one that is lower than the amount it would have sold in the usual trading market aka through listings and ads. Why is that so?

The cause lies in the motive of sellers to trade. There are many reasons as to why people will want to auction off their assets. In the case of property auctions, here are the top three.

First, the market is sluggish. This makes it even harder for owners to liquidate their real estate investments, creating losses and expenses on their part. To hasten the demand and the sale, they opt to trade in auctions to take advantage of the demand and the audience.

Second, entities that foreclosed assets want returns stat. When someone fails to pay up their mortgage or loan, a foreclosure on their asset collateral is imminent. The institution from whom they borrowed from will want to liquidate the said property in as quickly as possible to recover their losses from the noncompliance. The same is true when the person or entity in question fails to pay their taxes or has become delinquent in state or local income taxes. The unpaid tax authority or government arm will seize the asset and put it up for bidding.

Lastly, heirs to an estate want their inheritance divided. When someone bequeaths their assets to their loved ones after their death, the heirs get an ownership right to them. But an issue arises when the division involves real estate because they are physically indivisible. To liquidate them quickly and therefore make them dividable, they are sold at property auctions.
Ready to attend an auction?  Click here https://www.singerviellesales.com/english

Investment Property Advice for Landlords

landlordA landlord is described as somebody who rents out an investment property to tenants. They can be an individual or an organization that owns the said asset/s. Being one can be rewarding in terms of financial returns but it’s not a job that comes without its challenges. It can be tough and it’s definitely not for the faint of heart.

Managing and administering investment properties are a lot of hard work. Saying that is even an understatement since one wrong move can easily send anyone tumbling down into a pile of losses. Yikes! So we took it upon ourselves to do some research and ask the experts. Here’s their sound advice.

On Repairs and Maintenance

Before anything else, make sure that responsibilities between landlord and tenants are clearly understood among all parties. For instance, the extent of repairs and maintenance procedures to be done by both and the treatment of expenses related to such activities should be contained in the contract. This ensures that dilapidation cases are best avoided and that adequate upkeep is performed to preserve the value and functionality of the investment property.

On Contracts and Documentation

Preservation of documents is just as important as ensuring that they are drafted and written at their best. Things like lease contracts, agreements, memorandums, notices and the like should be kept and preserved for purposes of protection and reference. In the event of disputes, they can be used as evidence in court to prove the inadequacy of the other party and show their legal responsibility. Likewise, they can be used as reference to determine the responsibilities of both to each other and to the asset.

On Approaching Disputes

Legal cases are such a bummer. Not only are they a huge inconvenience but they waste both time and money too. When issues arise, make it a point to tackle it head on and immediately. Waiting for later and wishing it gone won’t do any good. Landlords need to act on these things the second they present themselves to keep the disagreement blowing out of proportion. If needed, get an arbiter.

On Tenant Screening

Making sure that the investment property is leased and that rental vacancies are kept at a minimum if not zero are apparent tasks that any landlord does. What many fail to realize is that they also have to perform a good amount of screening. A bad tenant equates to more losses than no tenant. They can lead the asset to a state of disrepair, drive other lessees away and create losses due to late and/or failure to pay rent. An effective landlord avoids such headaches by running a background check and pre-screening tenants.

How to Successfully Buy a Commercial Property for Sale

Finding a dream house, apartment or office for your business is a tough act that not everyone manages to achieve successfully. Don’t we all want to spend our hard-earned money on things we both want and need? But buying a commercial property for sale isn’t an easy undertaking. Challenging it may be, it’s not impossible either.

Heads up because we’re listing down industry proven tips that’ll help you land that much coveted commercial property for sale.

  • Ace it with a plan. – This entails big decisions to make so planning the how, when, where and what will be necessary. You cannot go walking blindfolded. That’s begging for trouble. After all, failing to plan is planning to fail.
  • Get to know real estate. – Pick up relevant materials like magazines, books, or online articles to educate yourself about how real estate works. The industry is very complex and you’d need all the help you can get. Knowledge is power, remember?
  • Mix hard work and frugality. – Buying any type of real estate asset not like going to your grocery store to shop. The prices of such assets are quite massive to so unless you’re some lucky lottery winner or an multi-million, you’ll have to work your butt off to save. Sure loans will come a-plenty but if you have nothing to show, lenders won’t give.
  • Look far and wide. – Don’t be easily content with what you see. Look at the grander scale of things. In other words, don’t limit yourself by simply looking at a few investment properties for sale. Compare and contrast them with like and similar assets. Canvass so you get the best deal and the best value for your money.
  • Detect and ignore sales talk. – Found a investment property for sale UK? Take listings, ads and seller information with a grain of salt. They might not deliberately lie, although some will, but they are likely to only bring about the good aspects of the asset. After all they want a sale. This brings us to out next tip.
  • Get the asset examined. – Call in a chartered surveyor to look into the property before you go ahead and sign the deal. They will help validate all the date provided by the owners and sellers plus bring to light other important details that will help in decision making. Also, don’t forget to validate ownership. Ensure the authenticity of the commercial property for sale’s title and check if there are any liens and encumbrances on it.

Analyzing commercial property for sale

Do check out singerviellesales.com for more information.

UK Commercial Property Investment and it’s Undeniable Charms

uk-commercial-property-investmentWhen we talk about world economy, the United Kingdom commands massive numbers. It’s also no surprise that it rakes in a huge amount of businesses within its borders both domestic and foreign corporations, small and large alike. Such pull and rise in demand makes a UK commercial property investment not only charming but also very lucrative.

But apart from its economy, there are a good number of factors that create and push for asset appraisals and heighten demand. They are as follows.

BUSINESS

As mentioned, UK commands business of all kinds and sizes. London for instance is a world leader when it comes to commerce and finance. In fact, finance plays a huge part in its economy as it is the city’s largest industry. It has been a strategic booming area where you can see numerous financial companies, brokers, legal firms, insurers, accounting firms and even fifty percent of the Fortune 500 companies. Its residents include the stock exchange and the Bank of England to name a few.

TOURISM

It is no doubt one of its strongest characteristics as it is a top tourist destination with an estimated fourteen million international visitors annually. Such factor has promoted the growth of related businesses like transportation, hotels, restaurants, housing, souvenir shops and the like. Some of the country’s most visited sites include the British Museum, the Tate Modern, the National Gallery, the National History Museum, the London Eye, the Science Museum, the Victoria and Albert Museum, the Tower of London, the National Maritime Museum and Madame Tussaud’s to name a few.

TRANSPORTATION

Its strong transportation sector also favors the situation allowing for a healthy level of trade, both imports and exports, as well as tourism. London is considered as the biggest city airport system in the world and houses one of the biggest ports in the planet that handles about fifty million tons of cargo every year.

EDUCATION

The UK is also major centre for higher education with over forty three universities. This has attracted students from all over the world. Businesses such as bookstores, housing rentals, computer shops and other related establishments continue to grow because of this thus further elevating the demand for various commercial property investments in UK.

Find out more at singerviellesales.com.

 

UK Commercial Property Investment