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
Labels: property renovations, Rundown properties
