Countrywide Property Auctions

With the UK economy as it is, countrywide property auctions are becoming a popular attraction for buy to let landlords and homebuyers alike. The number of properties sold at auctions around the UK has virtually doubled over the last few years and it isn’t a secret that there are some great bargains to be had.But is it worth visiting countrywide property auctions in a bid to find the bargain of a lifetime? Is it feasible to buy a property many miles away from where you live and still be a good landlord? And is it viable, financially, to pay a property management company to look after your distant properties?

Gain Access to an Extensive Choice of Properties

If you decide to attend countrywide property auctions rather than stay local you will dramatically increase the number of properties you have access to. Staying local does mean you can manage your properties yourself but it could be several months or more before a suitable buy to let property investment comes to auction…and then there is no guarantee you’ll win it.

Scouring countrywide property auctions though will provide you with a constant supply of suitable properties, and you’ll often be amazed at the cheapness of auction properties in certain areas around the UK. A property that costs £150,000 in your local area might only cost £120,000 elsewhere, but the achievable rental income might be very similar. So, if you have cash available, but a limited supply of it, you may find it easier to break into the private rental market by buying a property further afield, especially if you live in a major city where even auction properties are a considerable expense.   

Managing your Properties

Obviously, buying from a countrywide property auction will often mean your new property is a bit too far away to visit every time your tenants need a problem sorting. You will therefore benefit from the services of either a letting agent or a property management company. If there is work to be done to the property before it can be rented out then a property management company is advisable as they will liaise with builders, decorators etc. on your behalf.

The question remains though is it financially viable to employ someone to manage your countrywide properties…and the answer is almost definitely yes. Even if you have to pay a management company 10% of the rental income to look after the daily running of your property you should still benefit from a positive cashflow each month, and especially if you take the time to research numerous countrywide property auctions in a bid to find a quality property at a competitive price.     

So there you have it…proof that it does pay to look further afield for auction properties. Even if you choose not to buy at the present time you can still compare auction prices around the country and use your knowledge in the future; maybe when you want to expand your property empire around the UK!