UK Landlord Forum / Life

Are you like me and have that one property that something always goes wrong with? One of my flats was Victorian built, and not only were there constant problems with it, but the one upstairs had a water issue which constantly leaked into mine! Combined with bad tenants that either didn't pay or moved out early, or those that rang all the time, I had to sell.

The problem is it is not easy to sell via private treaty with a tenanted property, but I did not want to loose any rent and did not want an empty property only then for the sale to fall through. The answer was to sell at a property auction. Having seen the success of my sale, I now run a property auction business in the southern counties, although we have branches nationwide. Many investors attend an auction and are more than happy to take on a property with tenants in it, as they have their mortgage covered from day 1. Viewings are limited to maybe 2 open days of an hour each before an auction to prevent disruption. As soon as the hammer goes there is an exchange of contracts, eliminated the chances of a sale falling through which can be as many as 1 in 3 sales through private treaty.

I am more than happy to talk to anyone who has questions about selling at auction, or indeed if you are looking to add another to your portfolio and would like to attend one.

James

james.staceyclear@auctionhouse.uk.net