Ask 163: My property's been down-valued! Did I do the wrong thing? PLUS: How do I get a job in property?
Here we are with another Ask Rob & Rob - your weekly source of property investment information.
This week we have Greg, an avid Property Podcast and Ask Rob & Rob listener who is keen to start his own buy to let property investment journey.
He’s made a great start by purchasing his first buy to let property in Manchester. He bought this at an auction house and the solicitors have already set the wheels in motion.
Greg was told he needed a survey on advice from his mortgage broker to secure a mortgage. There were three levels of survey to choose from and Greg chose the most detailed report.
Unfortunately this detailed survey revealed a number of high defects and has resulted in the surveyor down-valuing the investment property as a result - to the tune of £6,000!
Greg is now questioning whether he did the right thing and is wondering if he should have gone for a lower survey which might not have found anything untoward for the purpose of his mortgage.
Now, the issue here is that as Greg bought his buy to let investment property via an auction, he’s already committed to the price. A tricky situation to be in if you don’t have the additional funds to make up the shortfall.
Rob & Rob have some sound advice for Greg, but more importantly, this advice could save another listener thousands of pounds by not making the same mistake. Tune in to hear some top tips from The Robs on buying investment property at auction.
The second question this week is from the many emails we’ve received asking how you can bag your dream job in property.
We’re on a huge recruitment drive right now and most of you will have seen emails, social posts and Linkedin updates from Rob & Rob, and the rest of the team here at The Property Hub.
We’ll let you in on a secret - take a listen to this podcast.
We’ve had thousands of CV through over the past few months and many of them have been rejected. To put this into context, our marketing team have rejected over 500 CVs alone recently!
What exactly are we looking for? And what exactly can you do to stand out and bag your dream job in the property industry?
Listen to this week’s Ask Rob & Rob and head on over to our jobs page to find out more.
Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).
Or if you prefer, click here to leave a recording via your computer instead.
The next question on Ask Rob & Rob could be yours.
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