How Do I Find Repossessed Property To Buy in London?

Tube Logo. Repossessed properties London

It’s no secret that repossessed properties can offer fantastic investment opportunities but finding and buying them can be tricky when compared to other types of property. If you are looking to buy a lot of stock then you should look to LPA receivers. If it’s just one or two you are after then you should look to auctions or to estate agents. However, you are unlikely to be told outright which properties are repossessions so you need to know what to look for.

Video Highlights

[0.23] How do I go about buying repossessed property for sale in London?
[0.40] LPA (Law of Property Act) receivers
[1.19] Buying repossession property at auction
[2.02] Buying repossessions through an estate agent
[3.55] Join our FREE training today

Video Transcript

Hello and welcome to Property Investments UK. Today we’re going to be looking at a client’s question concerning how to find (and buy) repossessed properties in London.

The question is from Andrea and it is…

“I’m looking for buy a repossessed house in London. Can you please give me some advice as to how I go about this. Many thanks, Andrea.”

Property Investment Tips In 2016

Rob Jones Answers Your Questions About Investing In Property

  1. Should I Use My Deposit to Buy One House or Two?
  2. Do Estate Agents Have Any Secrets?
  3. What Kind of Contracts do Property Sourcers Need to Use?
  4. Property Sourcing | What Should My Finder Fee Be?
  5. What Qualifies as a Quality Property Sourcing Deal?
  6. What Is The Best Way To Work Out Rental Demand?
  7. How Do I Go About Raising Property Investment Finance?
  8. There Are Lots Of Properties On The Market – Is This Good Or Bad?
  9. Is Investing in Property with only £20,000 Realistic?
  10. What Are The Property Growth Areas Of Manchester?
  11. How Do I Find Repossessed Property To Buy in London?
  12. Should I Invest In South Manchester Or The City Centre?
  13. How Do I Evict A Tenant? (Section 8 Notice to Quit)
  14. How Can I Buy a House Without a Mortgage?
  15. What Exactly Is Property Due Diligence?

1. LPA Receivers

So, the first thing to consider is whether you’re looking to buy many properties or just one or two.

If you are looking for multiple repossessed properties then you will need to find companies acting as LPA receivers. LPA receivers sell properties that were once part of a portfolio. They deal with large, bulk sales, so you would only be dealing with them if you were looking at buying a number of repossessed properties at one time.

That doesn’t suit most property investors. But, if buying property in bulk is something you might be interested in, then looking to LPA receivers is one option.

For a definition of LPA receivers see the Law of Property Act receiver (LPA receiver) from Practical Law / Thomson Reuters.

If, however, you’re looking to buy just one or two repossessed properties then looking at more traditional options is your best bet. These are estate agents and auctions.

2. Property Auctions

Finding Repossessed Properties in London with Property Auctions

So, let’s consider property auctions. At your local property auction, you’ll find a number of properties for sale. Most of these are probably going to be from individual sellers. Some will be being sold by companies. A few will be repossessed properties. You’ll be given a description of each property that will give you some background. You might get a few photographs as well. In that information, there may be a statement or comment to the effect of the mortgagees are ‘in possession’ or that it is ‘on sale by receivers’. Comments like this are obvious, strong indications that what you are looking at is a repossessed property.

3. Estate Agents

Finding Repossessed Properties in London with Estate Agents

The second way to find repossessed properties is through estate agents. When you’re going down this route it can be hard to spot which properties have been repossessed. Estate agents don’t tend to publicise which properties on their books are repossessed properties when they draft their listings. From the first listing it will be difficult to spot a repossession but a bit further down the line the estate agent will start posting pictures and these could give you few clues.

If, in the background of these pictures, you can see tape or notices that the water has been turned off, or chattels labelled as needing to be collected within 14 days… These are the kind of things that indicate that the property is a repossession.

Another thing to examine when you’re trying to spot repossessed properties among an estate agent’s listing is how the estate agent has done their marketing. So, when a property has gone through a period of time being marketed there may well be telltale signs that it is a repossession. For instance, with repossessions, an estate agent is duty-bound to get the best possible price that they can. As part of that process if there has been an offer already put in on the property then the estate agent will put an advert in the local paper. This advert will say that they’ve had an offer of x amount and that they will be willing to consider higher offers. Something similar may also be included in the property listing in their own literature. If you see something like that then you can be quite sure that the property in question is in repossession.

Although they don’t like to advertise that properties on their books are repossessions there are tell tale signs that you can pick up which will tell you what you need to know.

4. Join Our FREE Training Today

Thank you for watching this video. If you liked this content then why not join our free online property training course? In there we cover a range of different property strategies to help you get started on building a long-term property portfolio or creating a cash flowing property business. We also look at ways to increase your return on investment with any of the properties you may be considering and we also have a couple of cheat sheets and downloadable documents. Just click the image below to join our free training course.

If you have any questions or thoughts on repossessed property then please leave them in the comments section. We’d love to hear from you.

Related Posts:

What Kind of Contracts do Property Sourcers Need to Use? Today Frank asks what kind of contracts you need to have in place if you want to make property sourcing your business. The answer is that you don't necessarily need contracts at all but that the proce...
Property Sourcing | What Should My Finder Fee Be? As a property sourcer, you can expect to earn a finder fee of between one and five thousand pounds a deal... and that's quite a spread. To calculate where you are on that spectrum you have to ask your...
What Qualifies as a Quality Property Sourcing Deal? How do you put together a quality property deal for your investors when you're sourcing property and real estate? The answer is that you only choose properties where you have a full picture of the mar...
Is Investing in Property with only £20,000 Realistic? Today, we're going to be looking at a two-part question. Is twenty thousand pounds to invest in property enough to get started? Of course. And is investing in leasehold property a good idea? Well, it ...
There Are Lots Of Properties On The Market – Is This Good Or Bad? Property investing is a location-based business but how can you tell which is the right area in which to invest? Today we're going to look at what it means for there to be a lot of properties on sale ...

2 Responses to “How Do I Find Repossessed Property To Buy in London?”

    • Robert Jones says:

      Hi Tracey,

      There’s lots of ways to find motivated sellers, in our VIP Training course we cover 10+ different methods ranging from off market and on market lead generations options,

      For the full breakdown take a look here –

      We have also added a search option to our Menu bar so you can know search the site for any specific piece of content and articles that will help you with your motivated seller search

      Hope this helps 🙂

Leave a Reply