8 Important Things to Practice When Dealing with Property Auctions

Property auctions have become a celebrated platform by which real estate assets have been traded over the past years. While they may initially be intimidating, immersing in the experience will prove that it has more to offer and that all those myths are nothing but misconceptions that need to stop stat.

But even so, this does not say that auctions are easy peesy. Like any other method of real estate acquisition, it comes with a lot of work and not to mention competition. We need to put in our end of the bargain if we want to succeed and score the properties we seek for a sweet deal.

That said, here are 8 important things to do before, during and after property auctions that you need to take note of.

  1. Get financing pre-approved. – Or in short, you need to have the resources ahead of time. Remember that cash takes a while to pool and arrange so we need to buy adequate time for them to arrive. To do so, we need to act on it early.
  2. Run a background check. – Because truth be told not all auctions and organizers are one and the same. We need to do enough research to make sure that we only participate in trustworthy and quality ones.
  3. Double check the asset. – It would be a sin not to because we cannot rely on all the information given by sellers. We need to do our own research which brings us to our next point.
  4. Have it surveyed. – It doesn’t matter which platform you buy properties. A survey will still be necessary and so is a visit. Besides, why would you opt not to?
  5. Set a spending limit. – We cannot let our hearts rule above our heads or else we’re down for trouble and spending beyond capacity is a surefire ingredient for disaster. Discipline is a must in property auctions.
  6. property auctionDon’t be transparent. – It can be used against you. Besides, raising curiosity on a certain asset will only increase your competitors and you don’t want that. Additionally, telling how much we’re willing to shell out for an asset prior to the bidding may just increase the initial bid. Not good.
  7. Be aware of auction terms and procedures. –
  8. Take note of one’s payment schedule. – As mentioned, property auctions often come with short and strict payment periods so make it a point to pencil them in so you don’t miss out. Winning the bid isn’t end game just yet.

Commercial Property Investment Tips: Make Room for More Space

declutterHow does one make more room in such a limited space? The task at hand may be tricky but this does not make it impossible, even if that’s how it may seem at first. All it takes is just the right amount of tricks to turn your commercial property investment from suffocating to breathable and here’s how.

Tip #1: Get rid of clutter. Perhaps the easiest and most obvious of tricks and yet this is one often overlooked. Mess is not only an eyesore but it can easily hoard a significant amount of space in a room.

Tip #2: Bring in natural light. Bigger windows and glass panes allow for more illumination which helps in making commercial spaces appear bigger and brighter. Be wise when it comes to choosing artificial sources and lighting fixtures too.

Tip #3: Invest in smart storage solutions. Don’t leave files and supplies on piles. Install shelves and use cabinets, organizers and the like.

Tip #4: Choose the right paint color. Not only does it make the office look chic and sleek but it also helps in better lighting. Opt for colors such as white and softer hues.

Tip #5: Dimensions matter. Make sure to measure furniture and equipment against the floor plan before buying them. Everything has to fit well.

Tip #6: Build up instead of sideways. If the commercial property investment comes with high ceilings, consider adding a loft. When it comes to shelves, maximize by building vertically and taking advantage of unused corners.

Tip #7: Stay organized. Create a system by which to organize files and supplies. Labels help make the job of finding things easier and it ensures that everything has its own place.

Tip #8: Make the space cohesive. A commercial property investment should never be boring. While personality and design play a huge role in employee productivity and corporate branding, it also ties up all the elements of the space to make it in sync allowing for people to perceive it as put together, professional, organized and spacious.

Tip #9: Consider glass and mirrors. Anything with a reflective feature or finish helps in expanding the space beyond what they normally are.

Tip #10: Install glass internal sliding doors. Without a visual divide that cuts through the commercial property investment, it appears more spacious. Additionally, sliding doors need no swing room to function allowing the business to free up several square feet of floor space.

Reminders When Buying Commercial Property For Sale London

commercial property for sale londonBuying commercial property for sale London is easier said than done, pretty much just like everything that’s related to real estate. If ever you find yourself in the middle of or at the beginning of such task, here are some reminders to keep in mind.

  1. Identify needs first. – When it comes to acquiring retail spaces, it pays to acknowledge the very purpose for it and therefore the identification of one’s needs. The features and various other characteristics that make up the asset bought should fit these otherwise the effort would be futile.
  2. Follow up with the wants. – Also known as the negotiable variables, these pertain to certain features that you prefer to have but not necessarily need. They are, if anything, a bonus and can help differentiate a good investment from a better one.
  3. Location matters. – Because we’re talking about retail investments here, location is of primary importance especially since it dictates a lot of other factors that surround the asset such as exposure and convenience.
  4. But so does foot traffic. – Location may be king but foot traffic is its queen. This pertains to the amount of people that pass by or are exposed to the brand due to the location. It includes current or potential customers regardless if they go in or just pass by.
  5. Assess neighboring establishments. – Which establishments or companies are your neighbors? This plays an integral factor as it can either help one’s business or pull it down. For instance, the value of a property is hugely affected by its surrounding entities. Even the presence of complementary brands or competitors can play a significant role.
  6. Make sure it’s spacious enough. – Retail investments need to be huge enough for their intended purpose. Cramped spaces can easily turn off customers and allow for the risk of accidents.
  7. Opt for lesser ongoing costs. – Some assets may appear affordable at first glance but eventually they prove to be hefty to maintain. This is why prior to closing in on a deal, have the ongoing costs assessed. The lesser the better.
  8. Always conduct a survey. – When choosing among the commercial property for sale London in the market, make sure to call upon a chartered property surveyor to look into the ones on your short list. This is an overall assessment of the asset that looks into its various features and details and shall help determine if it is worth the money spent.

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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.

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.


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.


Turning a Property Investment into a Home

investment-propertA house and a home are two very different things. We could all agree on that. But how does one turn a property investment into a living space that we could all look forward to at the end of a busy day? Fret not. We’ve got tips to help you by.

  • Kick it up a notch with lighting. – More than do the obvious which is provide visibility, light can change up the feel and ambiance of any room. From cozy to productive to busy and even dramatic. Moreover, interior design has seen a complete 360 when it comes to design and innovation. Choose from industrial, modern, minimal, luxurious or DIY. You’ve got a lot of choices to play with.
  • Update the palette. – When you buy a property investment, it’s almost always in a neutral tone of boring and dull beige. At times, they come in white too but it’s not in the shade that makes the space pop with energy and potential. Add personality into your home by updating the walls with paint, stencils or wallpaper.
  • Create personal spaces. – We don’t just mean the bedroom. Put up areas that represent and are useful for the people who live in the house. For instance, create a reading nook with cushy pillows, a snug blanket and a comfy chair. Do you have kids? Dedicate a room or even a small area for them to play.
  • Take out those mementos. – A house is never really a home if you don’t personalize it. We all tend to accumulate things along the way. This could be books, photos, postcards, sketches, knickknacks or souvenirs from travels or memorable keepsakes.
  • Decorate with art. – You don’t necessarily have to buy expensive paintings or the like. Art comes in all forms and sizes from figurines to decorative clocks to pretty much anything that’s visually appealing. You can even splash some paint unto a cheap canvass, frame it and put it up your wall. Also, plants are art too so go ahead and add a splash of greenery inside and outside your home.
  • Keep things comfy. – Nothing screams home other than comfort. We all have varying preferences and definitions for it so this one really depends from one person to the other. But for good measure, invest in a few decorative pillows, pretty rugs, comfortable beds and sofas. Your property investment will instantly feel like home in an instant.

Pros to Leasing a Commercial Property Investment in UK

commercial-property-investment-ukDo you have a commercial property investment UK? Are you planning or at least considering leasing it out? If your answer to both questions is a resounding yes then you’ve come to the right place.

We’re giving you a rundown on the various perks and advantages to renting out your investment. Take a look and see for yourself.

  • It provides a steady income stream. – Monthly rental collections provide you with a good source of income. For many people, this gives them financial freedom. While others use leasing as a means to add more inflow to their pockets apart from their regular day jobs, others do it round the clock as their permanent source of living.
  • You retain ownership of the asset. – Renting out is different from selling despite of the fact that you’re not the one directly using or occupying the space. But what’s great about the former is that it allows you to retain ownership and the title to the asset all while earning income from it as mentioned previously.
  • You may choose to sell it later. – Since you retain ownership, you have all the liberty and discretion to sell the asset in the future should you wish to and should all contracts expire. You can do so for a profit too which is very attractive. Many investors go down this route when they find better investments to put their money and efforts on.
  • It helps with your taxes. – A good number of expenses that you incur for renting out the space can be considered as tax deductible thereby lowering the dues for you to pay. You’re going to ask a professional for this though because different areas and circumstances will reveal different allowable deductions.
  • It pays for your mortgage or loan. – The steady stream of rent income you earn can be used to pay off the mortgage or loan you took out to acquire the property. In essence, you’re not taking out resources from your pocket anymore which is a good thing.

Leasing out your commercial property investment in UK sure sounds like a good idea by now but you must also put into account the costs attributed to it and the work too. Make a cost-benefit analysis and weight things over. After all, it’s never going to be the same for everyone as varying sets of factors will lie ahead.

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Hidden Costs to a Commercial Investment Property

hidden-feesBuying a commercial investment property or any other fixed asset for the matter is tricky in every sense of the word. It’s doable for sure but it takes not just knowledge and hard work but also a lot of care and caution so as to ensure perks not losses.

One of the primary tasks that any investor faces when making such acquisitions involves financing. Truth be told, there are a lot of costs that come with commercial properties and you’d be surprised that a good number of them may not present themselves early.

What many buyers assume is that the expenses that they’ll have to face will only be that of the asset’s selling price including a security deposit and a down payment. In the real world, there’s more and here’s a list for your information and perusal.

  • Surveys and Valuations

Prior to closing on the asset, you’ll be hiring a professional to examine about condition, value, potential, age, depreciation and more. You’ll need them both to validate seller-given information as well as uncover other important details that will help in your decision making process.

  • Loan Applications and Establishment Fees

This cost pertains to the fee added by the bank when you apply for a loan or some other type of credit. In some cases, this can be waived or discounted but not all the time. It’s important to ask and include it in the budget.

  • Legal Fees and Document Costs

The preparation of various legal documents, the contract and title and ownership registrations for example, will also bear costs. This is an expense that must be dealt with because you can never skip the legalities or else you’ll end with a terrible headache later.

  • Property Taxes

The costs to owning a commercial property investment doesn’t end when you pay the seller. You’ll be dealing with more, taxes being one of them. These are levied by the government so their rate depends on where the asset is situated.

  • Ongoing Costs

Repairs and maintenance expenses also belong to the category of expenses that are spent post-acquisition. They are needed in the upkeep of the asset and form part of the regular expenditures when owning such an investment.

There are actually more to add to this list but these are the basics that you should know, at least for now. Good luck in shopping for your commercial property investment.

Why a Property Investment UK is a Sweet Deal

Looking for someplace to put your money in to make it grow? A property investment UK might just be the sweet deal you are looking for! But is it really worth every penny? Here’s a little rundown on the perks of getting an asset in the European country.

  • The population is pretty dense.

The United Kingdom, which comprises of England, Scotland, Wales and Northern Ireland, is an island nation in northwestern Europe with about 65 million in population. That doesn’t count foreign residents and tourists yet. With such a healthy and dense population, demand for properties be it business related or residential is pretty high up as well.

  • Its tourism industry is strong.

As mentioned previously, the UK is strong in terms of tourism. In 2015 for example, it reported 36 million visitors who spent about $22 billion in the year alone. The country even ranked 8th in the list of the world’s biggest and most popular tourist destinations. And we all know what a strong tourism industry means: more investors, more businesses and therefore more demand.

  • There are numerous educational institutions.

Apart from demand and population, this means that the country is home to a good number of prime talents. With institutions like the University of Oxford, Imperial College London and University of Cambridge to name a few, this country is sprawling with so much fresh potential not only from its residents but also from students and graduates who chose to study and stay in the country.

  • It is a leading financial center.

With London as one of the biggest financial centers in the world businesses that fall in the said industry sprawl within the city and even beyond. If you seek to lease out or resell property investments for a profit, you’ll realize a strong market for it.

  • Demand for assets increase value.

With all that said we can now clearly and safely deduce that a property investment UK is high on demand. That alone can tell us that its value, given proper maintenance and upgrades, will increase in value over time. This means that you get to earn from the acquisition as time goes by. Renting your investments out can give you a steady stream of income and so does buying and selling them. It may be tough business and it could require you to take on huge capital but it can sure bring you the financial freedom you seek. That is if you’re up for the challenge.

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