In the UK it is certainly possible to buy below market value (BMV) when searching for properties that are empty, are from a deceased estate, when repossession is possible, when couples divorce, problem properties etc. and then buying by cash or bridging loan.
However, when taking the usual route, properties often take alot longer to get to completion in the UK and I wonder if this pushes desperate people into selling BMV when they can get the cash quick.
How is it in NZ (often quicker sale), is BMV less common, relatively speaking?
Hi Rich hand
The NZ market is quite small, mortgage sales (foreclosures) are quite rare and a BMV are therefore unknown. I have been investing in Christchurch since 1995, have not been buying at BMV and I guess that is the case for all of NZ.
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