Author: Sue Sims
PIP Manchester Friday August 19th 2022
Speaker 1: John Loudon from National Property Auctions
John gave an update on the auction market in 2022, why you should sell at auction, can you achieve a better price for sale through auction than on the traditional sales market, online auctions can be more effective than traditional auctions to achieve better prices, how our members can work with NPA using their Sourcery product
Speaker 2: Adam Lawrence from PIP
Adam spoke about how he’s bought 100s of properties through auction. (Little known fact – Adam is banned from more than 1000 bookmakers as he was so successful in gambling by using maths not chance betting!! )
Online auctions are not controlled in the same way as traditional in person auctions, as there will be a wait time rather than with normal auctions which are controlled by the auctioneer. Adam discussed the different types of properties that sell well at auction and which won’t and why they won’t sell well
- You need to understand your opposition at auction – who is going to buy
- Buying with tenants in situ can be one of the best options to get a good deal at auction
- Best times to buy at auction late July, August, December when there are less buyers
- Semi commercial can be bought very well in a residential auction – good for a buyer but not the seller
Speaker 3: Rupert Lowe CrowdProperty
Rupert gave us a building regulations update
- Changes were implemented in June 2022 to make homes more energy efficient
- You need building regulations and these are separate from planning permission
- Aim is reducing CO2 emissions emitted by domestic properties by one third
Other regulations to consider –
- Tree preservation orders, listed buildings, conservation areas and doing works without permission – fines are horrendous. Dependent on circumstances fines can be unlimited and some are imprisonable offences
- You must not ignore an enforcement notice
- Bank of England interest rates will not have an impact on CrowdProperty rates, the interest rates that CP charge are not tied to the Bank of England rates
Lunch and networking
Round tables were combined with Adam Lawrence, John Louden and Rupert Lowe answering questions
It was a great meeting. If you are interested in joining one of our regional meetings you can find out more here. We welcome new and experienced members to our community.
Don’t forget members can catch up on all the full content in our Online Vault right here: ONLINE VAULT
Sue. HMO Expert, Property Investor, Owner Genie Homes and Founding Partner PIP.
