Quick Property sale » Asking Price

What is a good way to determine the value of a rental property you would like to buy?

admin — Fri, 26 Mar 2010 02:26:12 +0000

I am interested in investing in some rental property and I would like to know what a good method is to determine how much I should pay for a rental property based on rent recieved.

For instance one duplex I have looked at has collected an average of 11,500 a year over the last 5 years. However, it is for sale for 275,000. That seems like a high asking price based on the amount of money it is generating.

(I know the amount of money a rental property is generating is not the only factor, but I think it should be an easy way to narrow down my options.)

Thanks!!

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does an estate agent legally have to tell you if there is an accepted offer on a repossessed property?

admin — Fri, 31 Jul 2009 18:39:47 +0000

Made an offer on a repo, offer was rejected. Upped the offer twice with no joy. Now I find out that an offer of the asking price was accepted and is near completion. This was accepted after my first offer. The estate agent made no attempt or inclination to tell me that an offer of the asking price was made whilst I was increasing my offer. Are they legally bound to tell me there is a sale proceeding on the property when I make an offer??

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Percentage taken off asking price when buying London property?

admin — Sun, 19 Jul 2009 13:39:41 +0000

Hi All, I am considering purchasing a place to rent in London.

Quick question – considering the current property market, how much do you reckon I should take off the asking price when placing an offer and how much do you reckon should be taken off at the agreed asking price once purchase is complete.

So for example, 5% at offering and then 10% at completion. Answers with real life scenarios will be most appreciated. Thanks in advance!!!!!!!!!!!!!

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Does a repossessed property sell at a cheaper price than a normal one although there is nothing wrong with it?

admin — Thu, 11 Jun 2009 00:03:21 +0000

I would like to buy a (private) property that is a reposession, marketed by an estate agent. I assume the seller in this case is the bank? Would they accept a lower offer than a private seller would, as all they need to recover is the loan plus interest owed plus admin. costs? What is the cost of a repossession to a lender? Would they wait around for the highest offer or would they be happy with a let’s say 90% of the asking price? Are they interested in making a profit or all they want is to cover their costs? To make the question simple, would properties that are repossessions sell at a lower price (if yes how much lower?) than similar properties on the market simply because they are repossessions?

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