Buy from Auction to Refurbish

BMV Auction Acquisitions

Another excellent strategy, buying a BMV property at auction and refurbishing it can be an interesting and challenging way of increasing your wealth – provided you know what you’re doing when it comes to buying that property in the first place. For instance, you’ll have to fill out a mortgage application prior to buying at auction and, if you win, pay in full within 28 days. Because of this, only skilled investors should go down this route and that’s why here at Midas Property Group we have experienced auction partners we work with.

This is a strategy which also very much depends on your own DIY skills and time commitment – the better both are, the more money you stand to make. It’s possible to pick up a property at auction up to 30 per cent BMV (usually because the majority of them are repossessions and lending institutions want a quick sale).

This is a very quick means of buying a property and which, on the whole, will be ex-local authority, housing association or a crumbled old Victorian villa.

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