James_Clear Posted January 17, 2011 Report Share Posted January 17, 2011 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 simply those who 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 Link to comment Share on other sites More sharing options...
Mortitia Posted January 19, 2011 Report Share Posted January 19, 2011 So James, do you consider yourself a failed landlord because you had to sell the Victorian flat? I think I would have to be pretty desparate or maybe a bit stupid to sell because tenants kept ringing me or I couldn't sort out a leak from upstairs. Part of being a landlord is learning how to cope with the unexpected. Don't sell anything right now unless you have to - my opinion. Mortitia Link to comment Share on other sites More sharing options...
Melboy Posted January 20, 2011 Report Share Posted January 20, 2011 I had a look at the website and noticed there was a huge chunk of the South West of the UK including Wales missing for possible auction properties so no good for me. I recently bought a very nice 3 bed property in a good location with a sitting tenant and got a fair and reasonable deal for myself and the owner,now tenant. Incidently, this person had contacted one of these "We Buy Your House for Cash" laughable offer I can tell you....a real joke of an offer which is where I came in with a sensible offer. Why on earth people even bother with these organisations is beyond me and yes, if your desperate to sell then go for selling by auction but beware, all auction houses require non-refundable money up-front whether your property sells or not You don't always need the services of an auction house or EA to get a good deal with having to pay out large commission fees so the old rule still applies....look around and see what is on offer before parting with your hard earned cash. As far as James problem is concerned if I had to sell my properties for the reasons James described I just wouldn't be a landlord..... Mel. Link to comment Share on other sites More sharing options...
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