Investing in a distressed property can be a very interesting proposition for property investors since these properties are typically sold for a fraction of their market value.
Distressed properties can make great Buy To Let investments, depending on the conditions in which they are sold, and the potential to add value to this type of property is significant.
Distressed properties come in a variety of forms. The most frequent ones are mentioned below. Each of them has one thing in common: the seller is desperate to sell and will give a substantial discount on the property in exchange for a fast sale.
Reasons for Selling a Distressed Property
Financial: The most popular reason is financial. The property owner may be experiencing financial difficulties and would prefer to sell the property quickly rather than risk missing mortgage payments and facing repossession.
Divorce: When a couple splits, their home is often placed on the market, and both parties are also willing to sell the property quickly for financial and emotional reasons.
Death of a Family Member: When a homeowner passes away, their property is passed on to their family, who may decide to sell it right away. In many of these situations, the family wants to sell the property quickly so that the profits can be divided. As a result, the family is satisfied to accept a lower property offer in exchange for a fast sale.
Relocation: In other circumstances, people may be forced to move immediately to another part of the country or even overseas. They may have another job opportunity elsewhere and need to sell their home quickly before leaving.
Properties in need of repair: A property’s condition is sometimes the reason for its owner’s decision to sell it for a lower price. The property may need upgrading or structural work, but the owner may be unable to complete the work due to ill health or economic factors. In these situations, owners are willing to accept a lower price for their home.
If you’re looking for Distressed Properties for sale in the UK, search filters in online real estate software, such as DealSourcing, allow you to set up for the focal points you’re looking for. Proptech technology has simplified this mechanism and created a platform that serves as your personal property sourcer.
Thanks to algorithms and the power of automation, the platform can find properties from all over the internet and sort them in the market by percentage of BMV at 10%, 15%, or even 40% below market value. You’ll also be able to find properties with the greatest Return on Investment (ROI), which measures how much money an investor will make on a given investment.
You can save time, money, and resources by using it. The primary goal of this platform is to find properties with a high yield. It’s a no brainer to have DealSourcing.co if you are looking to UK Distressed Properties.
The Top 3 Most Useful Use Cases of DealSourcing.co:
- BTL & HMO Deal Analyser
Say goodbye to all your property spreadsheets. They determine the cash flow for each deal without using a calculator or a spreadsheet. Calculate your best offer, taking into account all expenses, Stamp Duty, earnings, and even the possibility of having to leave money on the table.
- Find High Yield properties by location
They looked at data from almost 500,000 homes in England, Scotland, and Wales. Their main goal is to determine which postcodes have the highest buy-to-let yield.
- Find negative equity properties by location
If a property is worth less than the mortgage secured on it, it is said to be in negative equity. They help you in locating certain deals based on your location.
Brought to you by DealSourcing.co
DealSourcing.co puts the power of automation in your hands. With the click of a mouse, you can search over 200,000+ Below Market Value offers (Buy-To-Let, HMOs, and BRRR) with ROIs of more than 15%. Using our efficient and user-friendly software, you will find High Yield properties.