Buying Run Down Houses to Renovate and Sell
Whether our clients are investing in a property to let, to sell or to live
in, we act to closely match their individual requirements. We also provide
additional property services to make sure the whole process runs as smoothly
as possible and are happy looking after client interests at every stage
of the buying process. We frequently purchase for busy professionals who
don’t have time to look for new houses or flats themselves and require
the assistance of specialists to make the process as easy as possible.
Whilst we specialise in prime UK property investment opportunities, we
are also in a position to help you buy investment property overseas
Investment Property Acquisition Objectives
- Take a detailed brief from the purchaser
- Match purchase specific requirements as closely as possible
- Purchase at a competitive price
- Acquire property before it comes onto the open market
- Ensure potential for capital growth
- Buy in prime locations
- Source low maintenance properties with maximum rental appeal and potential for high resale
Examples of investments purchased through Litchfields Properties are:
- Single residential property bought as a rental investment
- Portfolios of residential rental investments
- Shop and upper parts of a single property bought as rental investment
- Commercial and Industrial units bought as rental investment
Examples of development opportunities purchased through Litchfields Properties are:
- Dilapidated house bought to convert to self-contained flats
- Residential property that has potential to enhance value by refurbishment
- Residential or commercial units that have potential for obtaining alternative planning/usage to resell at a profit
- Sites for new build or demolishment and new build.
Ranging from individuals who want to buy their first investment property
to rent out through to land buyers and developers of some of the largest
and successful property companies, Litchfields Properties' offer a valuable
investment & development service.
Property Investment
Distressed Property Sales
Poor overall maintenance can be seen in cracked or peeling paint, crumbling masonry, broken fixtures or shoddy wiring or plumbing. While most of these cosmetic defects can be easily repaired, you do need to pay particular attention to any makeshift electrical or plumbing fixtures, which can be potentially dangerous.
Minor structural damage can result from water seepage into the foundation, floor joists, rafters, or window and door lintels. Although they won’t cause the house to collapse, they do require your attention before becoming more serious.
Plumbing problems typically include old or incompatible piping materials and faulty fixtures or waste lines.
Water and air leaking in around windows and doors is usually not a serious problem and can be fixed inexpensively with proper grouting.
Inadequate ventilation can cause too much moisture to remain in the house which can ruin interior walls and structural elements. To repair damage caused by poor ventilation, you may need to replace drywall and other elements. Replacing structural elements, however, may be much more expensive.
Environmental hazards include lead-based paint (often found in homes built before 1978), asbestos, formaldehyde, contaminated drinking water, radon and leaking underground oil tanks. Special inspections are needed to determine environmental problems, and repairing any of these problems can be expensive.
Property Renovations
If you’re planning to buy a property that requires renovation or
you plan to carry out major structural changes, ensure that you have an
accurate estimate of the costs.
Buying Cheap Property
Pubs are cheap due to the smoking ban, competition from supermarkets or just changes in the way we live. The licensed property market is being flooded with cheap empty pub sites ahead of the scrapping of concession rates for empty commercial properties. click here to search pubs, clubs, bars, hotels, restaurants and other licensed properties for sale in UK
Property repossessions – Sadly for the previous owners, repossessions can often be picked up at bargain prices
Investment properties – Properties, which are valued due to the return on investment that they provide. Includes everything from individual office/shop investments to blocks of flats.
Rundown properties – Properties that are unsaleable in their current state. The attraction here is if you can get such a property in a good location at a cheap price it’s perfectly possible to refurbish and resell on at handsome profits. Unsaleable properties come under the following categories:
- Derelict properties or in derelict areas.
- Properties subject to severe disrepair.
- Properties subject to local authority notices.
- Properties subject to repossesion.
- Properties with ambiguous legal titles.
- Properties without access.
- Properties with major fencing, paving, drainage or other similar responsibilities.
- Properties subject to covenants or restrictions, which prevent normal use
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