4 Reasons To Invest In Commercial Property In 2021 | Commercial Real Estate Opportunities UK

 

I absolutely love commercial real estate and over the next few years, commercial real estate offers investors some of the best ways to profit from property. 

I'm going to share with you four reasons why commercial property is the opportunity not to be missed.

1. Okay, reason number one: over the next year, commercial property opportunities will be in abundance.

 In other words, there will be more supply of commercial property than there is demand. Of course, the newspaper headlines and the media will be fixated with big-name stores collapses, such as the arcadia group and Debenhams, and many people will think well. The high street is doomed, but that really doesn't present the whole story. You see many of those shops such as Debenhams, for example, they're, just too big. They were designed and built for selling products off shelves. 

Now all that business has gone online now the thing with many of these stores that are shutting they're just too big and very difficult to repurpose to alternative uses without knocking the whole thing down.

 You see the opportunity for developers, and investors is with smaller shops and uppers. You see. The COVID 19 crisis has meant that many small businesses have been pushed to the brink, and that means there are lots of smaller shops and uppers which are ripe for repurposing and by repurposing I mean converting to residential use.

 You see these sort of shops and uppers the smaller shops they're too small fry for the sizeable big housing developers, and they're ideal for smaller investors, if only they know what to look at now. 

2.Reason number two is, of course, the public development rights that have come into force. We essentially have more commercial property in the UK than is required. 

The government knows this, and that's why they've brought in a whole bunch of permitted development rights. Now what these allow? You to do is repurpose commercial buildings to alternative uses such as residential usage, without having to go through convoluted planning permission. 

There are plenty of these permitted development rights available right now and thanks to Boris' build, build, build initiative. 

Even more permitted development rights are on their way in 2021.

3. Reason number three: well, the opportunity is simple: you see, commercial property is cheap per square foot, mainly when supply and demand mean that there's oversupply residential property, on the other hand, is often two or three times the value per square foot compared to commercial property, so the opportunity is simple. 

If you know what he's looking for you know how to exploit the permitted development rights; then you can take cheap commercial, real estate and repurpose as much of it as possible to residential usage. 

4. And number four is that there are some desirable permitted development rights which are available for smaller investors to exploit, which actually will expire 31st of July 2021. And that means the first six months of 2021 will be a little bit of a gold rush. It'll be a gold rush for savvy property investors who have clued-up of what to look for what PD rights they can apply to those properties and how how to go about repurposing those properties for maximum gain in that window of opportunity. 

More info about UK property here 

Housing Market Crash WILL NOT HAPPEN in 2021 | Eight Reasons Why UK Prop...

Uk housing market crash in 2021. Basically there ain't gonna be one in this video I'm going to share with you eight reasons why there won't be a property price crash in 2021. I'm going to share with you three types of property that you really want to avoid like the plague or should I say, avoid like covid19 in 2021, and I'm going to share with you my four-step plan to maximize the opportunity in 2021. So there's a lot to cover, so stay tuned, [, Music ]. Now my name is Ranjan Bhattacharya. I've been investing in developing properties for over 30 years. You may have seen me on property elevator, the hit sky tv show for property investors, or you may have attended one of our property networking events in central London now if you're new to this channel or you're, not a subscriber well, why ever not subscribe and hit The bell icon, we put out new content each and every week and it's all dedicated to making you a more successful property investor.

I've put out a number of videos on property prices in the property market. I'll put a recommended watching list of those videos in the description so be sure to check that out now there are lots of people on youtube, predicting a big property crash in 2021. Now some of these people have been predicting crashes for years, but you know what even a stopped clock is absolutely correct. Twice a day now, I'm saying there won't be a crash in property prices in 2021, but i'm not saying there's going to be a massive boom either they hear a lot of people talk about the fact that the UK is a small island and we have a Massive shortage of Housing, and that is going to mean that property prices are going to go up up up well, that may be true over the long term, but it certainly isn't true over the short term, I mean, after all, the Isle of Wight is a small Island what's been happening there with property prices in the long term, property prices will go up. So why are we so fixated with what's happening to property prices in the immediate future?

Well, when you buy an investment property, the first few years of ownership is the most risky you've got to buy. The thing you've got to make sure you cash flow it as quickly as possible and you've got to make sure that you exit out of the deal with as much of your money as possible. I've done a video on the brewer method, which underpins what i've just talked about. So if you as an investor, you're buying an investment property - and it goes down if you like - if you buy it at the wrong time - and it goes down and prices do crash in the short term, that poses a massive problem for you. So, let's get into it eight factors why property prices will not crash in 2021.

Number one is the amount of money that the government has printed and put into the economy. It's close to one trillion pound three times as much money that was pumped into the economy after the credit crunch in 2009., the value of your pound has gone down in real terms and when they make money in more plentiful supply, what happens is the value or The price of real finite assets tends to go up. This is happening in spades. If you look at gold, for example, a one ounce gold coin a couple of years ago - cost about a thousand pound. Today, it's upwards of fifteen hundred pounds for that same one, ounce gold coins we're seeing right now massive upward movements in the uk stock market stock markets have experienced their largest gains over the course of the last 30 days than at any period over the last 30 Years, why is that? Well, companies, ftse 100 companies are finite when the government prints so much money. What happens is that find the value or the price of finite assets tends to rise uh to maintain the same value if you like, as as they were before, that extra money was printed? This means that, because of this extra money, that's been printed, property prices will see a rise, but for the moment, unlike gold in the stock market, that rise will be subdued. In fact, i believe it will plateau the reason for that is because we have the specter of unemployment.

On the on the horizon, i mean there's immediately going to be some short-term unemployment. We'Ve got furlough schemes coming to an end, uh in in the first quarter of 2021. These will all subdue demand for property in the short term, but as soon as unemployment starts to bounce back to normal levels, as it will do, and it will do in a very short space of time. That'S when we'll see a massive asset price bubble emerge and particularly property prices will inflate, but do bear in mind um. When i talk about inflate, that is not inflating the real value of the properties. That'S just inflating them in terms of price to keep the price. The same as they were before the government pumped in one trillion pounds worth of extra money into the economy. So as a hedge against that hidden inflation, investing in property is a surefire bet. Reason number two is long-term low interest rates. Interest rates, as we know, are at all time record lows and they're likely to stay so for the foreseeable future by foreseeable future. I i don't see any any spikes in at least seven eight years. Why is that? Because we are a more global, integrated economy than ever before. The last time, uh interest rates really spiked was in the very very early 1990s. In 1991 we saw an overnight doubling of interest rates. They went up from seven eight percent to fifteen percent. Now, at that time, the world wasn't as connected as it is now, and significant economies um weren't as joined together as they are now. What happens now is that all the major economies tend to do things in sync and at the moment we have, for the foreseeable future, at an ultra low interest rate environment

Oh and smash that, like button guys, it really helps us out on youtube and comment. Tell me what you think about what I'm saying below number three is the sdlt holiday. The stamp duty holiday in the UK comes to an end on the 31st of march 2021, but i believe that will be extended. The reason it would be extended is because the um, the housing market, hates cliffhedges and I think the worst time for a cliff edge, is exactly on in march, at a time when the economy will be looking to recover so expect to see that holiday extended. For the short term, number four is the five percent deposit scheme for first-time buyers, and this is going to be absolutely massive in terms of underpinning the housing market previously, of course, um new build developers, developers of new properties could apply for the help to buy scheme Or should we say, help to sell scheme which allowed them to sell the properties to first-time buyers, and they only required a five percent deposit? Now the amazing thing is the government is planning to extend this scheme to first-time buyers for of second-hand property, second user property, and that will be amazing. This is an ideological thing for the tories and i think it is going to go ahead. Um you see the tories know, of course, that um homeowners tend to vote tory and what they're trying to do is encourage more home ownership to encourage vote bank for the future.

So I believe, that's going to happen, but that means a huge amount for the property market, because what it means is that people, first-time buyers will be able to get on the housing ladder at record. Low interest rates with only a five percent deposit required and not have to go for some of these expensive, overpriced new bills with high service charges and all of that they can buy a two bedroom, terrace property second hand and benefit from that five percent. Deposit number five, the whole world seems to be going green, yes, uh they're, going to be a whole raft of green incentives and grants. Government grants to help property owners with renovations to basically bring up to standard the insulation and the energy performance of buildings. So, as a property investor, if you're buying a dilapidated building which is in need of renovation, you will basically benefit from certain improvement grants. Number six is the city exodus. Now the city exodus is temporary, guys um now we're hearing a lot about uh migration. It'S as though you know some people are talking about, as though people are herds of wildebeests going across the plains migrating away from the big cities, leaving these hollow places where they're going to be completely desolate, but mark my words. This is completely temporary. Once we've all had our vaccinations and our we've got our papers uh that we have to walk around with to say we are um, covid free and all of that you know this is all going to bounce back, because we are social creatures. Uh people want people contact, many of you may know. I run the baker street property meet the uk's largest property networking event in central london pre-covered and we used to have 300 people come to our monthly networking meets. You know not a week goes by when we don't get emails, saying when are we starting baker street when you, when, when can we um sort of meet up again and that's because people strive or crave human contact now it might be okay for some um to Flee the big city and go to some countryside bolt hole where the internet is on dial-up and you can walk your dog with a bit of fresh air. But there's no one to be seen for miles.

But a lot of people like to be surrounded by other people, particularly young people, uh, want to be around people and the best place for that is cities, and we see massive evidence of that. You know the minute there's any any uh, let up in any of the lockdown regulations that affect your part of the country. What do you see? Everyone goes down the pub and socializes and wants to be with other people, so the city exodus is going to be short-lived and that's going to present short-term opportunities for the kanye savvy property entrepreneur—number seven unincorporated landlords. Now, there's a massive problem brewing for middle-class property investors who haven't bought properties through a limited company who do a middle class job and they're they're in the 40 45 tax bracket, and perhaps they've got one or two properties which they have as buy to lay investments On the side, these people are going to face massive problems. Firstly, with section 24, the tax on their mortgage interest payments, um, they've lost 10 wear and tear allowance and rishi sunak has proposed uh extra capital gains tax for people that own second properties in their own name.

Of course, if you own properties within a company uh or your portfolio, landlord with with properties held within a company you're not going to be faced by this kind of issue, so they're going to be some middle-class landlords in in professional jobs who don't do property as A business they just do a couple on the side um, it is going to prove uneconomic for these guys to hold on to their properties in many areas, and these guys will look to sell.

But I believe these properties, this stock, is going to be mopped up by first-time buyers, taking advantage of the five percent deposit and ability to buy at very, very low interest rates. Number eight is the job situation. There are no bones about it. The job situation in the uh in the short term - ain't good - it ain't rosy and there's going to be a bit of doom and gloom, but the axe is going to fall disproportionately on the low-skilled job market and that's one of the reasons I'm going to urge. You to avoid low-value areas.

These will be risky over the next couple of years. Now, what I've talked about is very general. The housing market is not the same in every area, and every type of property is not affected by the same trends that I've talked about. Now, what I'm going to go on to now are three types of property which really you should avoid in 2021 because those are going to give you trouble, but before I do that make sure you've liked this video youtube shares it with more people, just like you. So three types of property which are too risky for 2021 well um, I'm saying the market will plateau we're not going to see too much happening in terms of rise or fall in 2021. After that time, we'll we'll start to see some boom boom boom when the market's plateauing. One thing you want to stay away from is new bills, and I'm talking in particular about new bills, flat new build flats. New build flats, often command a premium. To a second hand, property - and now is not the time to be paying over market value for a given property, particularly when these also come with very high service charges. So new build properties, stay clear.

These will fall in the short term and low value areas. Now low value desolate areas will be challenging, there's a reason why certain properties in certain locations are cheap, often it's because of the job situation. The job situation was dire before covid and guess what it's going to be after covered even more dire, and often these areas are in areas where, according to the national census figures, the population is actually decreasing year on year. Now there are plenty of areas in the northeast and the northwest of england uh, where property prices have not even moved since 2007.

Now stay tuned to the next session, I'll share with you exactly how to avoid investing in low value areas, and the third area of concern I have is HMOs. Hmo demand in many areas is reaching saturation point. A lot of hmos are aimed at tenant groups who have been most savagely affected by the unemployment situation. That'S unfolding and also particularly in cheap areas. There'S been a massive rush to because the properties are cheap. They've been a massive rush by new investors to go out and buy these properties and make um sort of five-bedroom hmos and the like and they've found that the tenants are simply not there. Brexit has also had a role to play. Um people came from Europe uh to to live temporarily in hmos, while they worked a few years before they went back home. That market has disappeared. So I'm seeing and i'm hearing from a lot of people with hmos uh struggling to maintain anywhere near full occupancy and are looking to convert them back into single-family. Let'S so hmos in low value areas is something to avoid. So, let's draw some of this together. As i share with you, my four-point action plan for profiting from these opportunities in 2021.

So number one doesn't wait for the crash to happen because it ain't gonna happen, except for certain types of properties, as I've discussed, the new bills, the low value areas and the HMOs expect more of a plateau in 2021. Keep an eye out on the unemployment figures. As soon as the job market returns to type of normality, we will see boom boom boom. So number two don't invest in low value areas. What do I mean by low-value areas? The average house price in the Uk is now 250 000 pound. So what I'm saying, if you're investing in areas where you can pick up a house for 40 grand that's the average price, that's what i mean by no value that is desolate. As a rough rule. Rule of thumb i would be looking to invest in areas where the average house price in that locality is in excess of 200 000 pound. You can find that information out from zoopla right move. They have past sale, price data and averages per region, and also land registry number three focus on adding immediate value: don't buy stuff, you can't add immediate value to now.

I'Ve talked about the brew strategy and we've done a video on that. Now, when you implement the bro strategy in a in a plateauing market that isn't going anywhere, the way you pull your money out at the end is pretty much by making sure you can add significant value to what you're buying in 2021, one of the best ways Of adding value real value to properties that you purchase is going to be commercial to residential conversions. Now this is a subject that i run some specialist training in and i also have a free 90-minute webinar on the subject which you can join me on um and the link is on the screen and and in the description below propertyhyphanworkshop.com number. Four focus on cash flow. Anything you buy needs to cash flow positively, on or as close to day, one of purchase as possible. Remember, you're, borrowing at record low rates, your rental income needs to cover those costs and produce a surplus that will tide you over until when the market starts to grow in terms of asset value.

And of course, I mentioned earlier in the video that we've got a lot of the middle-class landlords who are unincorporated they're selling up because of section 24 capital gains tax, and all of that this is going to mean that there will be more demand for rented Housing, so that about sums it up, let me know what you think in the comments below just to sort of give you the summary. If you like, one trillion pounds has been printed, you know and the value that money is going to go into the value or the price of finite assets. We'Ve already seen that in gold we've already seen that in stocks and shares it's going to happen in property. It'S just going to be a bit subdued for the next year, or so until the unemployment situation is sorted out and then the property will go the same way as gold and stocks so 2021 for the savvy entrepreneur is the ideal time to get started in property .

Housing Market Update (DECEMBER) - Simon Zutshi

 

I'm going to give you a Housing Market Update for what's happening in the UK property market in December 2020. There's a lot going on right now, so we've got lots to cover in this video.

Let's look at what's happened so far this year in 2020, Now for the last 10 years we have been in a real growth market in the UK And whatever happens, when you have a growing market, you have a boom and at some point you have a bust. So I think a lot of people have been expecting that's going to happen Now at the beginning of 2020. I was talking about the number of landlords who are looking to retire and sell up early

These are people, who've got property portfolios, they might've had for 10, 15 20 years, even and they've got to the point where they think you know what I might think about retiring in the next few years. Typically, when people have portfolios of property, they might give them onto their kids. Very often, their kids have seen how hard their parents work and don't really want to have those portfolios. So very often retiring landlords actually sell the portfolio. They'Ve had a massive growth in value. They sell them, they pay their Capital Gains Tax and they retire on a big pile of money. Sounds like a good idea to me, But in April 2017 the government brought in their new Section 24 Tax Laws, Which meant that if you own property in your own name, which most people do as property investors. And if you have mortgages, which again most people do and if you're a higher rate tax payer, it means you have to pay a lot more tax on your property income.

So, for that reason, some investors have moved their properties into a company structure, which is one of the reasons the government have done this. They want to control property within corporations, they're easier to tax, they're, easier, legislate against. They don't want millions and millions of individual Landlords, But that's another video Anyway, so many people have done that. But some are saying you know what I don't want: the cost or hassle of doing that. I'M just going to retire early, so they're starting to sell up their properties, And we know this because of our network of property meetings all over the country In 2019 and the beginning of 2020, we saw long-term landlords come to those network meetings looking to sell up Some of their properties because of Section 24 and these new tax changes, So that meant a lot more landlords bringing more property onto the market. For this reason, we felt that actually 2020 might see a dip in the market. Then COVID happens.

And really in the UK it kind of hit home the beginning of March And then later in March, we went into the very first lockdown Now what that meant for property prices in the UK was that for 12 weeks or so nothing happened. What I mean by that is all of the lenders. The mortgage companies stopped lending Now. The reason that happened was because A they were very nervous about the market and what was going to happen. This pandemic and lockdown had never really happened here in the UK before, But the main reason was actually, they didn't have capacity to take on new work or even deal with existing cases.

And that's because the government announced that there were going to be these rent holidays for tenants who were struggling to pay because of the pandemic, And there were going to be rent mortgage, sorry, mortgage holidays for the landlords. So what that meant was if you were struggling to pay your mortgage, you could speak to your lender and get three months of mortgage holidays. Now there was a real knee jerk reaction. I think a lot of investors thought well. I don't know, what's going to happen, My tenants might struggle to pay

Maybe I should get this mortgage holiday just in case And so tens of thousands of people landlords applied to their mortgage companies to get these rent holidays Now. The problem was these: mortgage companies just were not set up for this work. They were over overwhelmed and they had to take all their staff out of all the other departments and put them into a department just to deal with the people working for these mortgage holidays. So that's one of the reasons that lenders completely stopped. The other thing is all surveyors stopped. I had three remortgages and one purchase going through in March. Everything stopped. So all the valuations of those just didn't happen for about 10 weeks, And in fact I had a valuation immediately after we came out of lockdown and the surveyor put on this quote. It was for a big block of flats. I'Ve got seven flats up in Halifax And I was expecting the valuation to come up, maybe 900 850. It came in at 750 And they said because of COVID market might change.

So, actually you know the surveyor had already down valued the property because of that So surveyors are being cautious lenders, not lending mortgage brokers and estate agents. All went home, weren't working, So the whole market stopped Now normally in the spring time. At that time of year. There's normally a bit of a boom, but that couldn't happen. So when we came out of the lockdown, I think there was a real relief for a lot of people and suddenly the market went crazy. You had all the people who were trying to get transactions through during the lockdown. All of those pent up demand came through. You had a bit of a natural boom in the summer. Then you had things like the CIBIL loans and bounce-back loans. So there was lots of money sloshing around in the economy. That meant people had more money to buy property.

And then also people who have got money in the bank are worried about what might be happening and think. Is it really safe to leave money in the bank? I had a number of people who are not really in property, they're fellow speakers, other people on other wealth creation strategies, contact me and say Simon. I've got some money in the bank, I'm thinking about putting into property. What do you think I need somewhere safe to put it, So, I think that's definitely stimulated the market and caused this mini boom.

And I must admit this: mini boom has gone on longer than I expected, And then also we had the government who realised that market was going to fall. I mean the Bank of England predicted a 16 % drop in property prices due to the COVID-19 pandemic and the ensuing recession. So the government bought in things like the stamp duty holiday, where they said actually, if you're buying a first time, property or you're moving from one to another home, no stamp duty on purchases up to 500,000 up until the end of March 2021. So this was a real stimulus And certainly a lot of people thought well. You know if I don't have to pay stamp duty, it's a great time for me to go and buy property.

So this stimulated the market. Let me tell you what's happening here in Birmingham and actually it's different all over the country. Obviously, But here in Birmingham properties were going like hotcakes things were flying off the shelf. Things were going for more than the asking price, So the value kept on going up and up and up And what happened was people were making crazy offers? Now, that's all very well if you can get a valuation at that crazy offer, but increasingly what's happening right now. More and more properties are coming to the time where actually they've been sold at a price, often higher than the asking price surveyors are going out and saying. This property is not worth this much' cause surveyors are all being very cautious.

Now it's an interesting point when you think about the UK property market and valuation surveyors what the surveyors think the sentiment of people like the Royal Institute of Chartered Surveyors they're, the people who do the valuations on behalf of all the banks, If they think the market's Coming down, they are going to be very pessimistic and cautious with their valuations, So they are going to lower property at a lower value, But they don't realise - or maybe they do, but that's actually a self-fulfilling prophecy ,'cause. If it's the surveyors, who are valuing the property down, they are causing the property market to come down.

What this means is property sales are starting to fall through Now in the UK property market we see one in three sales fall through. Naturally, I think we're going to see an increase in sales falling through, So that's going to cause properties that are technically sold. Coming back onto the market, More and more properties coming on And I've seen, certainly in my area, more properties coming on and not enough buyers. I'Ve heard some other property traders talk about, there's a real shortage of property. There was, but not now, Things are starting to change And I think we're going to start to see the market to tip and start to come down. Now. I think that the stamp duty extension the holiday until March 2020. We will see a whole load of transactions that people are trying to get through early March, So that might keep the market going a bit. The government might just decide to extend that beyond March 2021, And so what that means is that maybe it might save the market. Otherwise, I think we could see a real drop-off in prices in April 2021.

We also heard in the news very recently that actually the government is being prompted Rishi. The chancellor is being prompted to maybe change the Capital Gains Tax that investors have to pay Now. What kind of effect is that going to have? Well, it depends what comes in in the budget. Obviously, These are only suggestions, a proposal at the moment the media is making a real fuss about this. I don't know if it's actually going to happen And I've said to a lot of my clients. Look don't worry and panic about something that could happen Worry about things that are actually happening in the market. The reality is, there's lots of property on the market that is not selling. There are sales falling through. I think we're going to see the property market dipping and starting to come down. When is that going to happen? Look, I just don't know when that's going to happen.

Nobody knows when that's going to happen, But we think it's going to happen sometime soon. So what does that mean for you? Well, it's important to keep updated on what's happening. I suggest you subscribe to this YouTube channel so that whenever these videos come out, I'm going to give you the very latest of what's happening in the market, But I'd also get ready for a property market crash in 2021. I think that's going to happen. So what does that mean If you're an active investor right now and you've got equity and property and you're thinking about releasing that equity to buy more property? I would get it done right now. There's no doubt in my mind that lenders in the UK are getting very nervous.

We've seen some of the higher loan to rate loan to value mortgages offers being pulled, And actually I think it's going to get difficult to borrow money going into 2021. So if we want to release money, I can't give you financial advice, but if you already plan to do that, you might want to get on with that and do that very soon. And I don't know about you, but I'm going to be watching the UK property market very closely 'cause, I'm getting ready for the property crash. 2021. I think it's going to happen. I think it's going to happen very soon and it's going to be a great opportunity. That means there are going to be more sellers than there are buyers. There might be people who want to buy, but if they can't get the finance they're going to really struggle to do that.

So what that means is strategies such as vendor finance and purchase lease options and exchange and delay completion are going to be strategies that we're going to be able to use in the market in 2021. There'll be a lot more sellers open to those creative finance strategies because they need to sell their properties So stay tuned to this channel. I'M going to keep you updated with, what's going on, I think it's going to be a great opportunity to invest in property. In 2021, If you like this, please, like the video subscribe to the channel, I look forward to seeing you very soon.

Invest with knowledge, invest with skill.

Should Buyers Be Afraid of Gazumping?

Gazumping is a term used to describe a situation, whereby a seller accepts a better offer from another buyer before the sale of a property, is completed.

Sometimes, here at Manchestermoneyman.com, we hear people saying that gazumping is illegal. Unfortunately, this is not true.

Gazumping is a perfectly legal, and not uncommon, part of the property-buying process in England and Wales. This is because an agreement to buy or sell a property doesn't become legally binding until written contracts are exchanged by the lawyers. Until that point, you only have a verbal agreement.

Gazumping can be a very stressful experience for buyers. You may believe you are about to buy the property of your dreams when the sale comes crashing down. You may also be part of a chain that breaks and, as a result, you must move your moving date back.

It can be even more painful if you lose money as a result. This is because you can sometimes be left out of pocket by non-refundable survey costs, conveyancing fees and mortgage arrangement fees.

How does gazumping happen?
As we mentioned, an agreement to buy or sell a property doesn't become legally binding until written contracts are exchanged. Unfortunately, there can be delays of up to several weeks between a seller accepting your offer and the exchange of contracts taking place. This can be due to having a property survey undertaken, your conveyancer carrying out the necessary searches and you receiving your mortgage offer.

Within this period, other buyers may make a better offer on the property which the estate agent has to pass on to the seller. However, these preferable offers are not always better in terms of financial value. They may offer a faster sale or not have the pressure of a chain. Hence why the term 'gazumping' covers any preferable offer the seller decides to accept.

Ways to avoid gazumping
Unfortunately, there are certain things that won't happen until you have decided to make an offer, namely the property survey, conveyancer searches and mortgage offer. However, you can reduce the time between making an offer and the contract exchange.

Ways to do this include...

• identifying a conveyancing solicitor and surveyor in advance
• act quickly at each stage, providing all the information the different parties require
• have a mortgage agreed in principle

There are also a couple of tactics you could use to help add more security to the deal ahead of the exchange of contracts. Firstly, as part of your offer, ask the seller to take the property off the market as this reduces the risk of other people seeing the property. There is no obligation for them to agree, but it isn't uncommon for them to respect this request, especially if they've struggled to receive offers in the first place.

Secondly, you could try to put in place a Lock in Agreement which sees both parties put up a deposit as part of a binding agreement. If either party attempts to change the deal or back out completely then the other side takes their deposit. These arrangements can incur costs such as legal fees to set it up, but you might feel it is worth the cost for the security.

Finally, there are options to take out insurance to protect yourself against gazumping. These policies agree to pay you a set fee in the event of being gazumped.

For more open & honest mortgage advice in Manchester, click the link below.

https://manchestermoneyman.com/about-me/

Article Source: https://EzineArticles.com/expert/Malcolm_Davidson/2682735

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How Staging Helps To Sell A House?: 4 Basic Options

Many homeowners, learn from their real estate agents, and opt to take advantage of some of the principles of staging their home, in order to enhance the potential and possibilities of achieving the finest, possible results, in terms of selling their houses, for the best possible price, in the minimum period of time! We refer to staging, as a process, which improves, how, potential buyers, might perceive the specific home, in a positive way. In light of that, this article will attempt to, briefly, consider, examine, review, and discuss, 4 basic options/ alternatives, for getting this done, effectively, and productively.

1. De - clutter, and touch - up, limited areas: In some instances, it only takes a little, well - considered, tweaking, to achieve the intended objectives. Before beginning to show the house, reduce the amount of clutter, significantly, remove excessive furniture and furnishings (put into storage, or dispose of), and proceed, to, touch - up, largely viewed areas (many people, can do this, themselves). When a house looks neater and cleaner, and distractions, and negatives, are removed, and/ or, addressed, it usually translates to better showings, and more, qualified buyer, interest, and, hopefully, meaningful offers!

2. Do - it - yourself (DIY) staging: Depending on the size, price, niche market, etc, it may be possible, to do - it - yourself! This DIY staging process, includes, reducing the amount of furniture, and fixtures, especially, any, which seem to show, wear - and - tear, or don't enhance the overall appearance of the house. This should include: paying attention to curb appeal; reducing/ addressing any unwanted odors, and/ or, eye - sores; touch - up painting, cleaning fixtures, and adjusting lighting, and overall esthetics, etc.

3. Hire professional stager: Sometimes, it is necessary to hire a recommended, quality, professional home - stager! This process, often, includes: removing, existing furniture/ fixtures, and replacing them, with loaner items; enhancing strengths, and addressing areas of weakness, etc. However, because this is often, costly, to do, if you choose, a quality approach, the price range, and niche of the property, are relevant factors, whether this is an advisable approach, for you!

4. Study and understand some of the basics: It makes sense for homeowners, deciding to sell their homes, to thoroughly, study, and better understand, some of the essentials, and basics, which will add value to the transaction, and process! For example, to show a smaller room, such as a dining room, better, it often makes sense, to use taller furniture, and bigger fixtures, hanging from the ceilings. Understand, how lighting factors - in, as well, as where to highlight, and how to minimize attention, to some locations, Where some touch - up painting, curb appeal, etc, may be beneficial, are key considerations!

Become a smarter home seller, by understanding, and taking advantage of the relevant, applicable aspect of staging, for your specific house. Doesn't that make sense?

Richard has owned businesses, been a COO, CEO, Director of Development, consultant, professionally run events, consulted to thousands, conducted personal development seminars, for 4 decades, and a RE Licensed Salesperson, for a decade+. Rich has written three books and thousands of articles. Website: http://PortWashingtonLongIslandHouses.com and LIKE the Facebook page for real estate: http://facebook.com/PortWashRE

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