An Introduction to Property Auctions and What Not to Do

property-auctionsProperty auctions are as straightforward as they sound. But its self explanatory definition does not in any way reduce the fact that it’s a daunting but otherwise rewarding challenge.

We’ve seen a lot of investors come in and go home with grins on their faces, a deal clipped in the palm of their hands. But there too are those who obviously took a beating either because they lost an opportunity or because they miscalculated their strategies.

We’d all love to be the former never the latter but if we commit the following blunders then we’re nearing a serious case of property auction regret.

Knowledge Shortage

Before doing anything major, auctions and real estate for instance, we have to be fully equipped with knowledge, understanding and research. Lack thereof or even the slightest deviation can easily put as at the losing end. There’s a lot to know when attending property auctions. There’s the procedures and requirements set by the organizers, the assets being sold off, what constitutes value in the market and the list goes on.

Financial Unpreparedness

Money takes time to pool. Even credit takes time to process. It only makes sense that we prepare financing ahead of time so it becomes available even before the auction date. Keep in mind that these events often come with strict payment schedules and will most definitely demand an upfront down payment on the day of the auction itself.

Poor Planning

Or its awful sibling, the lack thereof. We need to plan our tactics and this involves having to identify one’s needs, sources of funds, financial capacity or spending limit as well as a short list of prospects which we have already looked into, have had surveyed and even visited where possible. Property auctions are highly competitive and if we come without a plan, we’re planning to fail.

Transparency

Going in property auctions is pretty much like going deep into the jungle only instead of wild beasts, we’re dealing with educated ones who come with unique strategies and game play. This makes it important for a bidder to be very wary especially when it comes to their emotions and the information they share. Everything we do or say can be used against us. If we’re too obvious for liking a particular asset for example, other bidders may get curious and make a case for added competition.
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The Different Types of Investment Properties for Sale UK

retail propertiesA property is simply defined as a piece of land and/or structure owned by somebody, an individual, a group thereof or a juridical entity. Although the legal matters that surround these real estate assets can be tricky and complex, understanding the different kinds of investment properties for sale UK is as easy as pie. Take a look at the following list.

Each category below can further spawn into other specific kinds but for the sake of today’s discussion, we’ll focus on the bigger umbrellas.

  1. COMMERCIAL PROPERTIES

As the name suggests, these assets are primarily used for business purposes whether this is at the front end or the back end of operations. Common examples would include office spaces and buildings. Because of the nature by which they are used, commercial investment properties for sale UK are often situated where there is high foot traffic and are easily reached by all types of transportation. They may likewise be a standalone property or one that is divided into several spaces for multiple occupants.

  1. RETAIL PROPERTIES

Primarily geared as a frontline space, retail investment properties for sale UK are those used to sell goods and or services. A perfect example would be shopping malls. There’s commercial strips too or town centers. It likewise includes restaurants, cafes and similar retail outlets where trade occurs.

  1. INDUSTRIAL PROPERTIES

Unlike the first two, industrial assets can be particularly demanding of space because they act as the manufacturing or product facilities, the warehouse and storage units or the distribution centers. Because of their purpose, they must often qualify certain building specifications and has to be very flexible.

  1. RESIDENTIAL PROPERTIES

As the name suggests, these are places of residence such as single detached homes, townhouses, apartment and condominium units as well as vacation homes. These can either be for single occupants or multiple ones and can span from on storey high to hundreds. The neighborhood, amenities as well as safety and security are top priorities when it comes to these investments.

  1. MIXED USE PROPERTIES

There too are the so-called mixed use investment properties for sale UK. These are assets that were built and designed to serve more than one purpose. For instance, it can be a commercial-residential building as the case with some condominium units where the first few floors are rented out to commercial establishments like convenience stores, laundry shops and the like.


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Improve Commercial Property Investments on a Budget

Commercial Property Investments on a BudgetA low budget should never hinder you from making the most out of your commercial property investments. There are a number of ways to decorate, re-hash and update the space without having to break the bank. Care to know why? Well you’re in luck because we’ve got some tricks up our sleeves.

  • Splash some paint. The easiest and cheapest way to give life to any room is by changing up the wall colors. If that’s not your cup of tea and you prefer something a little subtle then accent walls could do the trick. This requires painting one side of the wall with a pop of color that draws the eye in and adds personality without being too drastic.
  • Go down the pattern route. If you’re looking for a notched up version of the above then you might want to try using wallpapers or stencils. Wallpapers come in all designs but not all of them are affordable. As a fix, you can opt for stencils and paint instead. It may take a little more time and patience but it’s still worth it.
  • Add a touch of green. Plants not only bring in oxygen but they too add a sense of freshness into the space. Green is such a soothing color and it helps relax the eyes. There are many indoor plants available in the market right now and even those that are super low maintenance. If you’re a certified plant killer though, you can always opt for faux.
  • Update your lights. Commercial property investments require lighting that allows function. Depending on the use of a particular room, the type and mood required may differ. Still, changing up some bits can truly do wonders.
  • Make things more ergonomic. We all want work spaces that are not only pretty to look at but also safe to move around in. This makes it a wise decision to invest in ergonomic office furniture or at least re-arrange the room’s layout to make it more work-friendly.
  • Create storage areas. Offices that look like a dump of paper and files are just sad. It looks messy and appears unorganized. Bringing in some cool storage systems like cabinets and shelves will help a lot on this matter. Even basic and colorful file boxes look good stacked.

You see, a commercial property investment need not be blah. It can be both functional and inspirational at the same time. Besides, how else do you encourage creativity and productivity if everything looks so bland and boring?


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