Can you still pick up a bargain at auction?

****     POST AUCTION UPDATE    *********

The results are in and I'm pleased to say that my predictions were pretty accurate:

– The two bedroom Cheshunt flat sold for £175,000 just £5,000 less than my estimate. 

– The two bedroom Enfield house sold for spot on estimate at £150,000 and

– The Edmonton HMO sold for £525,000.

A couple of good buys there but I still want to see what will happen with the planning application on the HMO.

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Last weekend I went to see three properties, that all go under the hammer today. They're three very different properties and each, at the right price, could provide a good return. However they require very different levels of work from the buyer and it will be interesting to see whether they sell and whether the final prices are anywhere near the guide prices:

1 – Ready to go, two bedroom flat in Cheshunt. Good condition and with tenant in situ. Guide price £130,000.

2 – Recently renovated 6 person HMO in Edmonton. Good condition but the planning situation needs an expert eye. Guide price £475,000.

3 – Two bedroom house in Enfield EN3. A good project for someone with a bit of experience or the right contacts. Guide price £210,000.

Let's wait and see what happens later today.

At Belvoir Lettings Enfield  we don’t sell property, we simply use our experience to advise people as to what might make a good buy to let property investment in the Enfield, Haringey and Barnet areas, and how to successfully let their property.