How to buy auction property | Lessons in UK you can't miss!
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- เผยแพร่เมื่อ 31 ม.ค. 2025
- *2021 Follow up video here: • How to buy UK auction ... *
How to buy auction property | Lessons in UK you can't miss! // We are Elsie and Markus from EM Investments and in today’s episode, we provide property investing tips on how to buy property from auction. We had in mind many property investing strategies for some lots and we're prepared to bid for them. Property strategies like doing HMO or also known as house of multiple occupancy. Buying at auction could enable you to get below market value properties where you can buy refurbish and refinance. We have built a portfolio of rental properties using different property investment strategies and have achieved financial freedom. We can help you do the same!
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ABOUT EM INVESTMENTS
Elsie and Markus, the core of the team, have invested into themselves and are constantly working alongside multi-millionaires to stay up to date on the latest strategies for property investors to grow their portfolio, help others grow their savings, and build their personal freedom.
EM Investments strives to help people like you get the high returns you are expecting with virtually no time commitment and almost no risk.
No landlord responsibilities, no voids, no hassle.
EM team consists of specialist solicitors, lenders, accountants and refurbishment teams, to ensure the highest possible standard for investor clients and tenants alike.
Perpetual information seeking is often the biggest barrier to getting the results you want. Many people spend months and even years constantly researching how to better invest in properties, but are afraid to make the jump.
As a result, they get stuck and keep their savings in their bank accounts yielding them low returns and never get the lifestyle they deserve.
EM Investments’ TH-cam channel is based on the vision that focusing on the end result, rather than the latest shiny object, is the best way to actually reap the benefits of the property investments.
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We were eyeing two properties to buy at auction, but encountered some legal issues. Have you bought a property at auction before? What due diligence do you do before buying? Let us know!
Hi Elsie and Markus, Great video! Is it possible to upload the excel sheet for how you plan your exit strategy as discussed in this video?
I love you guys x
Oh that’s so good to know this can be happening
If being completely honest. That’s how titles of council housing should be! Council/social housing should be designed/created in a way to allow for accessibility for those who live and work in the area to own their own residential home. Not for investors to make profit and in turn drive up rent/house prices. If more ex council properties had titles designed in this way, more first time buyers would be able to own a home in the areas where they live and work, instead of Grenfell style cladded shared ownership rip offs.
Agreed! Why couldn't the housing association not sell to another housing association or back to the local council? Instead they are placing it on the market at auction to waste peoples time?!
What's the cost of getting a solicitor do review an auction property/legal pack?
Shouldn’t be more than a few hundred GBP.
Can you point us in a right direction of a good Solistor and what good auction is around?
Unfortunately we don't give recommendations on this channel. There's no good or bad auction per se, it's all down to finding the right deals.
Completing it within 28 days is very difficult unless it’s cash.
Amazing, thank you so much.
How do you manage paying solicitors fee for each auction pack especially if you get outbid at the auction. Imagine paying for each property and you keep getting outbid. Is it a waste of tens of thousands of pounds ?
That's sometime you can negotiate with your solicitor, build a long-term relationship there.
Hellooooo! Hope you're doing so so well. Quick question - you said there was a problem with the title? Is this something you managed to look at before going to auction? How did you find the title of the property? Is this something you would recommend looking at before you go to auction? x
These are information provided in the legal pack when at auction and you can ask for a solicitor to look through it for you.
Hi Elsie and Markus - How do the legal fees work pre auction? Do solicitors charge by the hour when examining the legal documents/liaising with the sellers solicitors?
Yes some solicitors do charge for pre auction work
Very useful thanks !
Hi guys, a newbie here, excuse my stupid question. I'm a first time buyer and got my decision in principle in hand and I wanted to know whether or not I could attend and buy such houses with a mortgage?
Hi Norbert, in principle yes, but we would not buy with a mortgage at auction. Very unlikely to complete within the given timeframes. Cash or bridging gives more certainty of speed.
@@ElsieandMarkus Thanks for the answer. Did you do any bridging? I`m interested in finding out if the process is hard or straightforward process :)
@@norbertcsibi7720 we often use bridging to purchase deals. The process can be lengthy, but very worth it in the end.
It's frieghtening. Is it safer to buy property with EPC C for the coming regulation in 2025?
It shouldn't matter what EPC you buy at, as you can always do works to improve the EPC.
Hi Elsie and Markus, I am loving your channel!
Is it true that if you are not a cash buyer you need to have a mortgage in principle ready from the bank in order to bid?
When buying at auction, you want to make sure you have finances lined up and can complete within the timeframe.
@elizabeth Boyd - hi did you manage to secure a mortgage on your auction property?
You guys are really smart. The devil is in the detail!
Guys I have a question about getting auction properties surveyed. Is it always possible to do this beforehand, how to keep costs down. Seems like costs can quickly add up if you getting properties surveyed
We see it as a cost of doing business. How else would you get a professional opinion of the state of the property and potential solutions for issues that get flagged up?
@@ElsieandMarkus thanks for the response guys. I'm not opposed to getting them surveyed more so any tips n tricks to possibly getting a deal with surveyors etc. Thanks again very helpful
Hi, it’s amazing to meet your channel and watch the video! I am on the route to learn on house auction :) Just a brain storming on the title issue. It’s likely that the property would be held by the company. Would the restriction be applicable during the transfer of company shares? ;)
This is best discussed with your solicitor and accountant as they are well qualified to answer your question. :)
Thats a big catch. Lucky you did not fall for this huge trap.
Hi, do you know if I can buy a auction house via mortgage also giving 10% down payment? Thanks ☺️
Best to speak with a broker about timelines, quite unlikely..
Can you help to buy a property on auction in Oxford
Hey thanks for the video! Can I ask, if a property was bought for 10% discount as social housing, when the owner decides to sell this property on, do they have to sell at 10% discount aswell? Or can they just sell at market value? Thanks again! :)
A property is only worth what a buyer is willing to pay. :)
@@ElsieandMarkus Ok thanks! I was asking as I came across a scenario where the owners purchased the property at 10% BMV, and I thought it was their responsibility again to sell at 10% BMV.. But I see what you mean by the fact that properties are worth what people are willing to pay...
Thanks for video. Might I ask what a clean title means?
Not having any restrictive covenants on there that are non standard.
Can you please share the name of the auction company? Great video, very informative 👏🏾👏🏾
Interesting
Have you bought at auction before?
This share of profits doesn't sound good but renting to the social and housing association sector is actually unfairly demonised - you generally get guaranteed rent and rent is at market rate in my experience
We don't demonise renting to the social housing sector, it's just that on this deal the numbers simply didn't work for us. We have social housing tenants in other properties in other areas too. :)
Hi I wanted to look auction property in Dunstable
County is Bedfordshire
I don’t know how I can do
I am home owner, we bought our first home but want to rent this house and want to buy auction property so I can make the way we want
Please help
Hi there, you can always book a call here: calendly.com/em-investments/30min if you'd like to have a 1-on-1 session.
@@ElsieandMarkus thank you
Do I need to pay for this cal or free of charge
@@MandeepKaur-vr1kr free, mate.
Property auctions are discriminatory. They discriminate against people who do not want to buy at auction, but prefer to do it the traditional way, but more and more properties sell at auction these days.
Well, you can choose not to buy at auctions, still plenty of options out there. :)
Urgent: please Please any one can give me a good convinacy solicitor who can deal with purchase a property from auction. I bought a property 1 week ago and solicitor he just called me he is personal issue outside ul and have to leave and no longer deal with my case i am stuck now and need to finilise the purchase in 4 weeks now or loose my 10% deposit and extra fees. Need to finilise purchase before 15 jan 23
hi, sorry to hear this. did you get sorted?
@@mash6178 yes. Is done.
The guys looks like Stipe Miocic ( UFC Champion ) . No relevance .
So if a person buys it to live there the council can’t ask for money as no money was made. I love that you guys couldn’t buy them. You’re greedy and gross.