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The People You Meet at Property Auctions

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property-auctionsDefined as a highly competitive publicly held sale at which real estate assets are sold to the highest bidder, property auctions remain as one of the most prominent avenues by which to strike great and worthwhile deals.

But that’s not what we’re here to talk about. In every property auction and regardless of how many you’ve already managed to attend, you are bound to come across different kinds of participants or investors. Care to find out who they are? If you do then read on. We’ve have them listed down for your perusal.

The Newbie

Meet the certified newcomer. This person has never attended an auction all their life whether it’s physical or online. They can become very hesitant as this is new environment for them. Other times it can be the complete opposite. You’re one at some point and before you start to empathize, remember that they are competition. It’s okay to be friendly just don’t divulge.

The Seasoned Bidder

Of the five in this list, the seasoned bidder is your toughest competition. Because of their experience and years not only in the property auction scene but in real estate in general, they’ve got quite a number of tricks up their sleeves. We all want to be one and that’s not impossible at all.

The Overly Zealous

This is that investor who is severely overwhelmed by everything around them but instead of melt down and panic, they become so excited that they shed off all logic. These are those that bid without thinking or are those that lift their hearts above their heads. They engage in the toughest bidding wars without checking if the purchase is valuable and lucrative in the end. Oftentimes, they go beyond their budget.

The Talker

They love talking to everyone and most often than not, they tend to boast about the great assets they are eyeing on and how much money they are willing to shed for it. Don’t be like them. In a place as competitive as property auctions, showing off your cards is the same as welcoming defeat with open arms.

The Observer

Last but not the least, there will always be observers in property auctions. These are those that instead of bidding, they opt to learn the process and acquaint themselves with as much information as they can. These are oftentimes smart newcomers but can likewise be seasoned bidders and sellers.

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Commercial Property for Sale London and Why You Need a Chartered Surveyor

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chartered surveyorsBuying a commercial property for sale London is serious and not to mention tough business. There’s a lot of information to process and definitely so much more to work on and prepare for. It’s a herculean task but one that needs to be done. But whether you’re a real estate investor who considers assets as products or a company that needs them for operations, one thing remains the same. We all need a chartered surveyor and here’s why.

Aside from a real estate agent or a lawyer, we also need to hire surveyors for a very important reason and one of them is to keep us from entering shady and misleading deals. Property ads do a lot of sales talk and that’s a given. Our job is to see through it and we can’t do that if we do not examine the property for what it’s worth. Since we’re not experts in the field, we definitely need to hire someone who is.

One of the primary aspects that chartered surveyors look into would be the market value. Sellers will say it’s this or that but you need to validate. By surveying and examining the asset up for sale, these professionals help buyers in ensuring that they are paying for the actual market value of the asset and not more.

They also come up with an estimate of ongoing costs. Many assets may appear affordable at first glance but if you look into its repair and maintenance costs, they become hefty in the long run which isn’t good because that spells costs over a prolonged period.

Moreover, they will run a full and comprehensive examination of the asset. They will inspect upon the actual state and condition of the land and the building, the safety and security features of the property and the neighborhood it’s in. In fact, they can also look into the materials used in its construction, its previous uses and prior owners.

Chartered surveyors can also do so much more than help you buy a commercial property for sale London. They can likewise give advice about possible improvements, expansions and upgrades that can be done to the asset, the limitations to construction, land integrity and the like. They will also help you ensure that you are not building beyond the premises so we can all do away with the headache that disputes can bring.

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Factors Behind the High Demand for UK Property Investment

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UK-Property-investmentDemand speaks a lot of a UK property investment. In economics, it refers to the level of desire or need that exists for particular goods or services. Simply put, it can define an asset’s value in the market.

In the United Kingdom, the demand for such investments has continuously been at a high level due to a number of factors. In school we have been taught that low supply and high demand will yield higher prices. We all know that despite buildings being continuously constructed, land area remains the same thus suggesting limitations in supply.

It is for the above reason that many investors have sought to take their piece of the pie knowing that this spells a good return and positive profits. But what are these factors? What are the reasons behind the high demand for UK property investment? Surely, we’re all curious. Read more to discover.

  • Population

As of 2016, statistics report that the UK has reached over 65 million in population. That alone tells us that more and more people have come to reside and live in the country. And we all know that a strong number of citizens and residents will call for a demand in the housing industry. Their varying needs will also call for the rise of businesses which in turn will create added demand for commercial and industrial assets.

  • Tourism

Considered to be a home to many of the world’s biggest attractions ranging from historical sites, museums, amusement parks, entertainment and many more, the UK is one of the largest tourism industries in the world with18.6 million foreign visitors and 12.9 million domestic visits.

  • Education

Adding to the demand are students not only from the country but from all over the globe. It is home to a number of renowned educational institutions such as the University of Oxford, University of Cambridge, University College London, Imperial College London, King’s College London, University of Edinburgh, University of Manchester and London School of Economics and Political Science which all form part of the world’s top 100 universities.

  • Business

Last but definitely not the least; UK property investment is high in demand because of business. It is a thriving potluck of domestic and international companies of varying industries and sizes. This creates demand not only for commercial assets but also for residential ones as it pulls the employment bar higher eventually increasing the number of immigrants and foreign workers.

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