Don't Make This Auction Mistake! Prolific Traders Share Real Life Stories and Review Auction Lots
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- Опубликовано: 10 окт 2024
- In this episode, our special guest, Oliver Adams, a prolific property traders brings two auction lots located in Lancashire. We discuss the stories with both properties and how they picked Oliver's interest. We also discuss the potential issues and that lead to Oliver sharing some horror stories including one where the lender of previous owner clawed back 100% of his profit from reselling the property! Something that totally caught him by surprise.
Here are the links to properties we discussed:
House in Leyland:
www.auctionhou...
Repossessed flat in Lytham St. Annes:
www.auctionhou...
Timestamps:
00:59 Oliver Adams introduction
01:29 Description of the 4 bedroom house www.auctionhou...
03:26 Story of the first lot
04:29 Jay's views
06:18 Controversial opinion from Omer
07:53 Piotr's views on Lancashire
11:07 Why modern method of auction can be good for properties like this
15:20 Oliver introducing his second property
www.auctionhou...
17:45 Restriction on the title that allows lender to claw back 100% of the profits
22:13 Saif's post-auction prediction
25:11 Why traders would not be interested in this flat
Who are the Property Auction Hunters:
Jay Howard
As the CCO & Co-Founder of Hammered, Jay Howard brings over 18 years of comprehensive experience in property sales and purchases. His expertise, honed as the former manager of Auction House London, has made him a sought-after voice in the industry, contributing to various awards judging panels and industry roundtables. Jay's knowledge is further showcased in the #1 bestseller "Before the Hammer Falls: The Insider’s Guide to Property Auction Success," a must-read for anyone interested in UK property auctions. 📚🏠
Piotr Rusinek
Piotr Rusinek, CEO & Co-Founder of Hammered & Auction Buyers Club, is a seasoned auction property trader with a decade of experience. His expertise covers all aspects of sales via auction, making him a highly respected figure in the field. Piotr, who also co-authored "Before the Hammer Falls," manages an auction portfolio and runs the Auction Buyers Club alongside Jay, catering to a network of property professionals and high net worth investors. 👨💼🔨
Auction Academy: hammeredauctio...
Auction Buyers Club: auctionbuyers....
LinkedIn: / theauctionpro and / theauctioninsider
Saif Derzi
Award-winning property trader Saif Derzi has an impressive track record, having bought and sold over 270 properties in just 7 years. As the owner of Property Buyers Today and Let Co., Saif's extensive experience and success in the property market set him apart as a notable expert in the field. 🌟🏢
Website: propertybuyers...
LinkedIn: / saifderzi
Omer Mehmet
Omer Mehmet, the founder of Trinity Finance, is renowned for his expertise in diverse financial solutions, including Rapid Auction Finance, Bridging, and Specialist Buy to Let. His approach combines a keen business acumen with a passion for property, making him an invaluable asset for clients seeking innovative financing solutions. Omer excels in handling complex financial cases, and his enthusiasm for property development is evident in his diverse portfolio. 💼💰
RUclips: • Omz Under The Hammer -...
Instagram: / omzunderthehammer
Website: hammeredauctio...
Omer has given the breakdown that most mortgage brokers have experienced. Emotional buyers beg, borrow and do everything they can to get the money together for a property they’ve fell in love with. Price has gone out the window by this point.
Always make sure you deal with a motivated buyer and never become one yourself!
super helpful
Thanks!
Great video chaps
Thanks Tom
Watching this for the 2nd time - taking notes for future auction purchases!!
Ola
Normally the special conditions will state that the form of transfer is appended to the special conditions in this case TR2 because it’s repossession. Bit sneaky but get legals done as lots copy pasting going on with cheap factory outfits.
This one was very sneaky and not what you usually expect although they did end up putting it into the specials to reflect this eventually....
Which lender gents??? Great chat
Capital Home Loans as far as we remember!
Love IT 👌🔥🚀
Thanks Dom!
Great bit of advice on the overage issue. Who is said lender in this scenario?
Capital Home Loans.
The Buyer shall not sell or otherwise dispose of the Property or any part of the Property within 12 months of the Completion Date without the prior written consent of the Seller.
26.3.1 if the price paid for the Property as a whole, or if the aggregate price paid for each part of the Property sold within 12 months of the Completion Date, exceeds the Purchase Price, pay to the Sellers the difference between the Purchase Price and the price paid or aggregate price paid;
Defo something that most will miss including the most experienced!
Expect these with any Capital Home Loans repossessions! @@alfiecroft2435 thanks for posting the clause in here
@@SaifDerzi I wonder if you'd get away with putting that condition in yourself or is it only appropriate in a repo? Have visions of flogging a very tempting refurbish project with that condition on. Particularly with one of the more questionable auctioneers...
Not very ethical though
Wow, thank-you Oliver for sharing that horror story for our education.
What happened to you was outrageous and horrible. My sympathies.
Ok so just watched this. It's six months on what happened????????
Your video quality and thumbnail design are awesome, but SEO optimization is not done properly, so your video views are not there, I want to help you grow your business.
Thank you
Thanks! We are improving step by step!