How to buy a flat below market value

Buying a property is a serious decision, among other things for financial reasons. There are a great many options, and prices can differ considerably. Wondering how to buy a flat below market value? Discover our tips and valuable information on the value of residential premises in Silesia and beyond.

Cheap flats – where to look?

If we want to buy a flat for less, we must adopt the right tactics when searching for it. It is best to consider premises that need renovation. Because of defects that must be repaired without delay, owners want to sell properties below market value. We should look for flats for sale not only on classifieds portals. There are several other places worth visiting when looking for a cheap property, for example: buying a flat at a bailiff auction, using a government scheme, or investing in premises owned by the municipality.

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How to buy a flat below market value that needs renovation

The need for a thorough renovation is the most common reason for flats being sold below their market value. It should be borne in mind that this type of property requires additional financial input from the new owner.

Looking for cheap premises? It is a great option, with more advantages than just lower costs. However, the cost of the renovation must be carefully estimated. The flats we can often buy at a bargain price in this case are in tenement houses. These are often large properties, sometimes more expensive to maintain. Flats needing renovation give us the chance to profit when we later sell them. When looking for a flat below market value that needs renovation, consider premises in the centres of larger cities. If you want to settle in Silesia and buy premises at a reduced price, do not overlook listings for tenement houses. It could be a real bargain!

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Bailiff auctions

Another way to buy a property below market value is to take part in a bailiff auction. Such a solution allows you to save as much as 1/3 of the value of the premises. The bailiff is obliged to offer the flat at a price of no less than 75% of the value of the premises, but the next offering starts from 2/3 of the market value. Such bargains are quite rare. It is nevertheless worth considering this option and looking into the subject a little more broadly.

Looking for cheap properties? We invite you to browse the listings on our website. You will find many interesting, up-to-date listings there.