How to find repossession properties to buy?
So there are a couple of things to consider when you're looking to buy multiple properties or maybe just one or two. If you're looking for multiple repossessions, then companies like Hamilton Paige Ltd will sell you portfolios of properties that were maybe once part of a buy to let portfolio or in ownership by one buyer. If you're only looking to maybe buy one or possibly two repossessions over a period of time, then Hamilton Paige will again be a great option for you to consider.
Alternatively, if you were to go along to a local property auction, you'll see a number of properties for sale. The properties could be from an individual seller, could be from a company or could be from repossession. The auctioneers will provide you with a description of the property, the background information of that property and any extra information you need to know legally. Look out for key words such as “for sale by the receivers” as it should give you an indication of what the background is on that particular property, i.e., it's a repossession or being sold as a repossession. You will need a large chunk of money to place as a deposit for the property should you win the auction and unless you have a mortgage ready before hand, then you could be shooting yourself in the foot. Furthermore, the ever increasing auctioneer fees can be crippling and be as high as 5%.
Another route to finding repossession properties is by using estate agents. Very often they’re hard to spot i.e. which particular properties are definite repossessions that are being sold by the estate agent. They don't tend to publicise it when they're first listing the property.
Hamilton Paige Ltd are specialist property buyers and investors and work closely with sellers, buyers and investors alike to meet the objective of all their requirements.
The website operated by Hamilton Paige Ltd can be found here; http://hamiltonpaige.com/ and it contains information about the range of different properties available and strategies to help you get started in building a long term property portfolio and/or creating a cash flowing property business.
Because Hamilton Paige Ltd buys properties from sellers directly, they always have great offers on for both sellers and buyers. Unlike estate agents and property auctioneers, the sellers of properties to Hamilton Paige Ltd do not pay fees and the exchange can often be completed within 48 hours – now that’s fast.
