Current List of Repossessed Houses for Sale in London
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There are a considerable number of repossessed houses for sale in London and many below market value (BMV) property investments, the trick is in finding them!
You will see many adds, particularly online, claiming BMV (below market value) prices of up to 40% and the majority of these should be taken with a pinch of salt; that’s not to say, though, that such bargains are not out there to be found. Here at houserepossession.co.uk we provide a free repossessed and distressed property search service of which we are very proud.
How can Properties be Sold at such BMV Prices?
- Sometimes a vendor finds a new property gets involved in a race to exchange contracts. They then need to sell their property as quickly as possible – so they reduce the price to below market value
- There may be too many properties of the same type in a particular location; the market stabilises itself by pushing prices down
- Sometimes the recipient of a probate property (a property in a will) just wants to sell the property quickly to get the cash
- Company executives who are required to locate for their job are often very well paid to achieve the move quickly
BMV properties fall into the following categories:
- Properties in need of renovation
- Properties for the rental market (the buy-to-let market)
Examples of BMV Properties Currently Available in London
- Gladstone Road, London SW19: 2 bedroom house for sale by auction. Guide price £325,000
- Dane Road, London SW19: 3 bedroom house for sale. £330,000
- Macclesfield Road, London SE25: 4 bedroom house for sale by auction. Guide price £170,000