How to Buy an Abandoned Property

What is an Abandoned Property?

An abandoned property is a home or building left vacant for an extended period, often falling into disrepair. You can find these properties due to economic downturns, inheritance disputes, or owner neglect.

Why Buy an Abandoned Property?

• Affordable Prices: Many abandoned homes are sold below market value.
• Customisation Potential: Renovate to your taste.
• Investment Opportunity: Restore and sell for profit.
• Community Impact: Improve neighbourhoods and housing availability.

How to Identify an Abandoned Property

• Overgrown gardens & boarded windows.
• Uncollected post or damage.
• Check council tax records for long-term unoccupied status.
• Use HM Land Registry to identify ownership.

Legal Considerations

When buying an abandoned house, check:

• Ownership: Ensure no legal disputes over ownership.
• Adverse Possession: You may claim ownership after 10-12 years of occupation.
• Planning Permissions: Local councils may have restrictions on renovation.

How to Buy an Abandoned Property

1. Search for Properties: Use auctions, council records, and estate agents.
2. Contact the Owner: If known, negotiate a sale.
3. Secure Financing: Consider bridging loans or renovation mortgages.
4. Survey the Property: Ensure structural integrity.
5. Make an Offer & Complete Purchase: Work with a solicitor for legal checks.

One of the most effective ways to find abandoned properties is through auctions. These sales often include homes that have been empty for long periods, offering buyers a chance to purchase at competitive prices. At Auction House, we list a wide range of properties. Auctions can quickly and transparently secure an abandoned property, whether you're a first-time buyer or a seasoned investor.

Financing Options

Abandoned properties often require alternative financing:

• Cash Purchase: Easiest but requires upfront capital.
• Bridging Loans: Short-term financing for property purchases.
• Renovation Mortgages: Cover purchase and refurbishment costs.

Renovation & Restoration

Once purchased, consider:

• Structural Repairs: Address major issues first.
• Utilities Overhaul: Update plumbing, wiring, and heating.
• Insulation & Energy Efficiency: Improve EPC ratings.
• Re-Sale or Rental: List for sale or use as a rental property.

Common Pitfalls to Avoid

• Ignoring legal issues – always verify ownership.
• Underestimating renovation costs – always budget extra.
• Skipping inspections – hidden issues can be costly.

Buying an abandoned property in Lancaster, Morecambe, Preston, or Blackpool can be profitable if approached correctly. Ensure thorough