| Finding a property for sale that is in need | | | | for a renovation project and the budget you |
| of renovation can be a hard task, but finding | | | | have to buy a place. Don't get put off by the |
| the right property at the right price is the | | | | lack of property available, or by the agents |
| most essential part of property development. | | | | trying to sell you something that is clearly |
| Remember that at the end of the day you are | | | | unsuitable for you. You should telephone all |
| looking to make a profit, and that will come | | | | the agents regularly as right property could |
| if you buy the right property, so before you | | | | come onto the market at any time. The |
| spend months working hard on a project, it is | | | | internet is also a place where you can find |
| worth spending your time finding the right | | | | properties for sale, there are lots of |
| opportunity. Auctions have become a popular | | | | websites with properties for sale you can |
| way to sell properties that aren't in | | | | trawl through, or there are specialist |
| pristine condition. Most properties that sell | | | | websites that list properties for sale that |
| at auction have something wrong with them - | | | | are in need of renovation. Once you have |
| either it is obviously in need of some | | | | found the right property you need to agree a |
| renovation, or there is some legal issue that | | | | price. Think carefully about how much the |
| needs to be dealt with. However, finding | | | | house could be sold for once the work is |
| properties at auction isn't for everyone. You | | | | completed, how much you will need to spend on |
| need to do all the groundwork before hand - | | | | doing the work, how long it will take and how |
| have your conveyancing done, and arrange your | | | | much you will need to spend in fees and |
| finance, which can include paying for a | | | | financing. As a general rule of thumb, double |
| valuation. If you get outbid at the auction, | | | | the amount you think you need to spend and |
| then the money spent on investigating a | | | | double the amount of time you think it's |
| property has gone. If there are several | | | | going to take. This may give you a closer |
| properties that you miss out on, this can | | | | figure to the final budget than your original |
| build up to a substantial amount of money | | | | figures, and if you end up spending less then |
| spent without getting anything in return. | | | | that can only be a good thing to your profit. |
| Using the more traditional method of buying a | | | | Once you have calculated all your costs, and |
| property using an estate agent can take | | | | factored in the profit you are looking for, |
| longer, but doesn't have the same pitfalls as | | | | then you have a fair idea about how much you |
| buying at auction. You need to go through the | | | | can spend on a particular property. House |
| phone book and find all the estate agents in | | | | hunting can be a tedious task, but using the |
| the area you are interested in, and then | | | | Internet from the comfort of your home can |
| telephone them all. Explain you are looking | | | | help you find your ideal renovation project. |