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Auction Finance

David Humphreys continues with his series of articles on buying property at auction

Last month's article was all about number crunching and by completing that exercise in the same Analyser (IPA) you can enter the fixed-up value and monthly rent, recording the source of both pieces of information as a comparable for valuation purposes.

I mainly use the 'for sale' and 'last sold' features on Rightmove looking for comparables within a radius of 1/4 mile (neighbourhood) and at most just 1/2 mile of your property's postcode. There are some other equally reliable, up to date websites with 'for sale' and 'last sold' data. It is just that I am very familiar with navigating my way round Rightmove which saves me time and makes the exercise less stressful.

Also (in the IPA), I have included a range of non-standard features on the Area Analysis page which should have a positive effect on the valuation and may not exist in any of your comparables. It is for you to decide the percentage value of each up-lift because they will vary from one location to another.

Another point to remember about anticipated values, both fixed-up and rental, is that you may be bringing to the market a 'new' property, possibly the only property in the immediate neighbourhood (1/4 mile) which has all the features that you have built-in to your fixed-up property.

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