Yellow Apricot - the online property auctioneers Yellow Apricot - the future of property auctions



Yellow Apricot is the first and only UK Property Auctioneer through which you can
buy and sell properties at auction, entirely online and in real time.




 

Help and Instructions

Help Instructions

When to use Yellow Apricot - novices

YELLOW APRICOT WORKING FOR PROPERTY NOVICES

With house prices seeming to be a better investment than any other, virtually everybody everywhere is thinking of buying property to resell at a profit. The property novices who are would-be property developers should remember that you do not always make a profit out of property and you can make a loss if you get it wrong.

However, this does not seem to stop many novices who choose Auctions as a place to try to snap up a bargain.

Example:

Miss Gold earns £15000 per annum as a secretary and has been left £100000 in a will. The money is sitting in her bank account earning her 4% interest. Friends have advised her that she should buy a property at Auction and do it up for a quick profit. She has done her research and had a property in Birmingham valued at £85000. The property needs approximately £20000 spent on it to get it into a saleable condition and it will sell for £120000. Miss Gold has enough money in savings in addition to her inheritance to finance this deal if she can get the property for up to £90000.

At the Yellow Apricot Auction, the property sells for £88000. Miss Gold ends up spending £25000 including fees on it and resells it at a Yellow Apricot Auction 3 months later for £127000, making her a tidy £12000 profit after fees and expenses. This is virtually as much as she earns as a secretary in a whole year. As a result she ends up leaving her job and doing property developing as a full-time occupation.

 

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