Musings of a Brighton Buyers Agent

Clive Emson is having an auction next week with some interesting development opportunities in Kent.  

In Gravesend there is a detached rent office in Dickens Road/Rose Avenue Junction.  With a  guide price of £18-£20K, I expect there will be considerable interest.   In a residential area it may be possible to obtain permission for housing.  Terraced housing in the area are likely to fetch between £120,000 and £150,000, taking into account a drop of 15% since last year.  If wholly residential development is not permitted, a live/work unit  may provide a suitable compromise.  The Ebbsfleet express domestic service  to London King€™s Cross opens in November so now is the time to capitalise on weaker prices along the East Kent corridor.

Another interesting site is a 1 acre site, former a waterworks plant, at Halden Lane, Rolvenden with a guide price of £80-£100,000.  Property in the village does not change hands often and achieves a good price partly because it is a stones throw from Cranbrook Grammar School, a co-ed school with 750 pupils, a boarding house and a long and distinguished history.  The process of gaining planning permission may be prolonged and require skillful negotiation and an exciting design but it has good access , some services and is close to the village as well as being secluded. 

Finally there is a house and attached shop and garage in the High Street, Ramsgate with a guide of £170-£180K but planning permission for a four storey building was been granted in 2006.  The price may appear high but families are now beginning to consider the coastal regions of Kent  as a desirable option, in view of the plethora of good grammar schools in the area. 

The area is becoming busier for Buyers Agents like us as a sharp rise in London commuters is predicted, as the fast services through Ebbsfleet become a reality at last.

Technorati Tags: Brighton Buyers Agents, Buyers agents, development bargains, development property, Ebbsfleet, Kent Buyers Agents, Kent development bargains, property auctions

Tags: Brighton Buyers Agents, Buyers agents, development bargains, development property, Ebbsfleet, Kent Buyers Agents, Kent development bargains, property auctions

Musings of a London Property Search Agent

2 period houses in Camden, a 5/6 bedroom mansion flat on the Finchley Road, 2 adjoining mid-terrace properties on Holloway Road (currently a squat), a vacant HMO on the Talgarth Road and a cute 2/3 bedroom cottage on the Shaftesbury estate: there are plenty of bargains at the Savills auction, for those brave enough to take them on.  Regular readers will know that we are fans of auction property, particularly at the moment .  There are bargains to be had for the well-prepared, well-financed first-time buyer, prepared to roll up their sleeves to get the location and size of property they really want.

The adjoining houses in Holloway Road are currently being used as a squat so are best left to the professionals, but there is a plethora of other lots which could make the ideal first or family home with a bit of elbow grease, vision and of course additional funds to pay the builders.

There are two key benefits to buying at auction in our view: firstly, at the moment you can get a bargain and secondly you exchange on the day of the auction so no-one can pull out (including you!) and you know the date you will take posseession, normally 28 days later.  As with any property purchase, you need to get organised and ensure that you are fully aware of the legal and material condition of the property and any other facts which may affect it’s value now or in the future and anything else which might affect the enjoyment of the occupier.  This is all possible, you just need to be well-organised, with a good reliable team behind you. 

A full structural survey and legal searches should be completed prior to the auction and any questions you or your solicitor have should have been answered.  Finance must be in place, with the lender aware that the property in question is for sale at auction and you need to have 10% in your current account to pay on the day if successful. 

The downside of purchasing at auction is that you need to pay for all this up front but someone else might have done the same and be prepared to pay more than you on the day, in which case all the money, time and effort would have been in vain.  To avoid this it’s vital to accurately assess what the property will go for and what you are prepared to pay for it.

If you decide to go ahead, remember not to make friends with the auctioneer.  Set a budget and stick to it.  Good luck. This London Property Search Agent will help disappointed would be buyers if they give us a call!

Savills residential auction will be held on 27th October at The Royal Garden Hotel in Kensington.

http://www.savills.co.uk/

Technorati Tags: development property, DIY bargain property, london property bargains, London Property Search Agent, October auctions, property auctions, Property Bargains, property to do up, refurbishment, Savills Residential Auction

Tags: development property, DIY bargain property, london property bargains, London Property Search Agent, October auctions, property auctions, Property Bargains, property to do up, refurbishment, Savills Residential Auction