Should You Use a Buying Agent? - Part One
Firstly you should know that the house search / buying agent / property finder market is unregulated.
And we have already seen the collapse of one major property investment company which specialised in buying properties in depressed parts of the north of England with the intention of letting them to social housing tenants.
Many of their investors were from the south east who had bought “sight unseen” after seeing the company’s ads in the quality papers. They had not even bothered to do any research on the area that they are buying.
So one of the key rules is to ask questions about the area you are buying in.
Go and see the areas for yourself and give the buying agent a tight brief -this road, not that road, this postal area, not that one!
Unless you are rich enough to risk losing a lot of money, you must get involved a bit – you cannot afford to be too “hands off”
Part two of this guide tomorrow.
Back to site www.lettingfocus.com
Copyright David Lawrenson 2006
And we have already seen the collapse of one major property investment company which specialised in buying properties in depressed parts of the north of England with the intention of letting them to social housing tenants.
Many of their investors were from the south east who had bought “sight unseen” after seeing the company’s ads in the quality papers. They had not even bothered to do any research on the area that they are buying.
So one of the key rules is to ask questions about the area you are buying in.
Go and see the areas for yourself and give the buying agent a tight brief -this road, not that road, this postal area, not that one!
Unless you are rich enough to risk losing a lot of money, you must get involved a bit – you cannot afford to be too “hands off”
Part two of this guide tomorrow.
Back to site www.lettingfocus.com
Copyright David Lawrenson 2006
This entry was posted by lettingfocus, on
Monday, January 08, 2007.
