Property needing repair, renovation, refurbishment

If you are planning to buy a run down property that requires renovation or you plan to carry out major structural changes, ensure that you have an accurate estimate of the costs. – 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 is 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