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Probates are great for BRRR. They almost always need a refurb having been the family home for decades and probably going untouched for a generation! Couple this with very motivated sellers keen to 'cash-in' their inheritance asap, you have a very good change of picking up a deal! I am always...

Hi, I think I understand your situation. The lack of detail on the prior approval plans i.e. new doors and windows is because under permitted development you are not normally allowed to make such changes. You basically have to work with what is already there and make minimum external changes...

Hi, My understanding is that you can now go ahead and construct those new apartments once you get building regs approved, so no need for a full application for the prior approval scheme.

In terms of levels of discounts due to a quick sale or some other motivation then antidotally I have seen 10-20% compared to other comparable sold prices. I haven't got the data to back this up but might be worth looking at if anyone is interested. As I said above, what really appeals to me...

For me being able to source probate property easily is not solely about the possibility of getting a discount because of the motivation for a quick sale for example but this is obviously a good thing when it happens. It is more about being able to find properties that are easy to add real value...

I have purchased a few probate properties in the past but none recently. Not currently buying but will be soon the way the market is going.

Hi, take a look at these two, the second one is a classic example of probate property and seems to be priced low: https://www.rightmove.co.uk/property-for-sale/property-65848678.html https://www.rightmove.co.uk/property-for-sale/property-65805094.html Thanks

Hi FWL, I will run it over Newcastle for you, is there an area you are particularly interested in?

Found this older thread that mentions the motivations of probate property sellers https://www.propertyforum.com/forum/threads/a-probate-view-from-the-other-side.13448/#post-133242

Just to follow up on this thread, I have now put together a system that can identify probate property on RightMove. Give me a town/city and I'll see what comes up. More details on other thread here...

Yes there is a 3 month exemption. However, if you buy an empty property which has been empty for 3 months the time is not reset.

Seeing as commission is the way that estate agents earn their money, I wouldn't be surprised if they did have some monitoring setup on the property perhaps land registry, which would only cost £3 to get name of new owner or even contact new owner at the address and ask how they came to buy the...

Circumstances can change and if you ever wanted to sell the flat you would be limiting your potential buyers to owner occupiers. However, this may be of no consequence at all if the area has little rental demand.

You should always make sure you read and understand the lease, demand to see it even if not offered. This will ultimately determine the value of your investment. A lease that disallows subletting would make for a very bad investment.

If you end up selling to someone who has previously views the property or sometimes even enquired then you'll need to be careful. You can ask your outgoing estate agent for a list of everyone who viewed or made offers to avoid this situation. Above all, read through the contract you signed...

Would check that lease allows flat to be rented out, some blocks do not. How much is the service charge? Depends on block size and location but a lot more that £1000 a year might be excessive unless there are reasons such as lift , pool or gym etc. Maybe ask to look at last years management...

Business rates do not change very frequently, usually every 5 years. In terms of impact on property prices, if rates increase and makes the business unprofitable then you'll find more empty shops on high street. If a commercial property is empty then owner is still required to pay business...

When you buy a leasehold flat you cannot force the freeholder to extend the lease within 2 years, this would be following the formal statutory extension process. However, you can always negotiate informally with freeholder to extend before 2 years have passed but you will not have the benefit...

And finance interest is 100% tax deductible even if owned in your personal name. Also you can use pension funds to buy commercial property I.e use your pension pot before you reach 65! Final point, there is a fair bit of permitted development available when it comes to converting commercial to...

I see interesting approach. Can any of it be done from the desktop in order to automate things? Also, is there a list of such properties for an area that investors can subscribe to?