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When a property is repossessed by the lender because the owner is unable to make interest payments, the lender usually requires a quick sale of the property to cover the outstanding loan balance.
The short timeframe – and the possibility of the property not being in the best condition – can mean opportunities for property investors willing to look at this kind of opportunity.
To find repossessed properties with PropertyData, first to the the 'Repossessed' option in the Sourcing menu at the top of the site.
The easiest way to search is with your home postcode, and enter the maximum distance you would travel to view or manage an investment property. Note how the result counter just below the input box will show how many properties are found, as you adjust the radius.
Alternatively, you can created a saved local area and then search within that area.
Once you click 'Search', you will be presented with the results grid:
Our de-duplication algorithm will try to ensure each property features only once, even if it is listed with multiple agents or on more than one portal.
Clicking on an individual opportunity will show you our fact sheet with all the information we have for about that property.
Options at the top allow you to Filter the results, adjust the radius, sort the results, or view in different formats such as table or on a map.
You can also enable email alerts, so that you can be notified daily of new properties in this category.
In the top right you'll find two of the most advanced functions.
The 'Intersect from list' button allows you to find properties which are on more than one of our lists. Consider, for example, looking for Repossessed properties near a good school.
'Exclude from list', on the other hand, allows you to eliminate properties from another list. You might want to look for Repossessed properties that are not for sale by auction, for example.