Property Auctions
What we will cover:
- How experts undertake valuations and due diligence, and how to find key due diligence data not available on the Land Registry
- 5 key questions most property traders answer before bidding at property auctions
- Finding hidden building defects and how to avoid the auction house sharp practice
- Understanding the Legal Pack and 'Special Conditions'
- The power of a Quantity Surveyor to assess and control building costs
Objectives
- To help you in a practical way how to carry out a higher standard of due diligence and better understand the tactics used by auction houses to sell undesirable properties
- To show how experts assess building costs and how to reduce project management risk
- To help you better understand the legal pack and avoid buying properties that can’t be mortgaged
Background
Many people buy properties at auction with a view to undertaking a refurbishment project. Understanding the insider secrets and legal pitfalls of the property auction industry is key, as is improving your due diligence and valuation skills with the ability to professionally assess and manage building costs.
Misleading guide prices, poor disclosure, missing information and hidden defects are common, so this highly detailed course helps you to understand the level of analysis required with practical steps on how to carry out due professional diligence before the hammer drops.
We provide and explain a step-by-step guide on how professional property traders and experts prepare before buying at auction, what type of properties to avoid and common pitfalls. Post auction, we look at the role of a Quantity Surveyor and show how the major house builders accurately estimate building works, together with how you can avoid poor workmanship, cost overruns, and builders' sharp practice.
In addition to the course, included is one hour video presented by expert course author and property developer Henry Davis and specialist auction conveyancing solicitor, Keira Rawden, entitled: Auction ‘Tricks of the Trade’. You'll also be able to access a downloadable guide on what to look out for in the legal pack, common pitfalls, and a list of the types of property which are not mortgageable.
Suitable for
- New or experienced landlords purchasing a property at auction