By now you should have an idea about whether your property search is going to be local or national and you may have decided what kind of property you are looking for.
Next, you will need to shortlist some properties to look at in more detail, later on.
And one of the things you could be looking for, are properties that have been listed for sale, for a long time.
Why?
Because when properties don’t sell, this doesn’t mean there is anything wrong with them.
However, it could mean a homeowner who is willing to drop the price, to finally achieve a sale (a motivated seller).
So, in this lesson, we are going to look at how you can find properties that have been on the market for a long time and create a shortlist of possible options.
We’re going to use Rightmove, so first-thing-first you will need a Rightmove account (so you can save what you find in a list).
The steps to follow are:
When you look at the properties that appear on the page, you will notice that you can see the ‘date posted’ by the agent.
This tells you how long a property has been on the market.
When a property is struggling to sell, this is generally because it has been misrepresented or mismarketed.
Sometimes the price is too high or sometimes the descriptions have been a bit off.
Whatever the reason, such properties can make for good investment opportunities. Opportunities that others have missed.
We will be looking at how to further assess these properties, in upcoming videos.
But for now, just remember that properties which have been on the market for a long time are worth your attention.