What are BMV Deals?
BMV stands for Below Market Value, which quite simply means that you are buying a property at less than what it is actually worth, so for example if a property’s value is £100,000 and you buy it for £75,000 you have bought it at £25,000 discount that’s 25% below market value.
Buying property at below market value makes very good business sense because you have gained instant equity, the mortgage payments will be lower and therefore the profit from renting it out will be more.
Properties with estate agents or auctions offer far less BMV discount, even though initially you might think auctions would have a good discount, most properties in auctions have structural defects which would be very costly to put right and the ones in good condition normally have four or five people after them so they tend to go way above the guide price.
At Professional Property Searches we tend to get people ringing us up who have had their property more than likely overvalued by an estate agent and it’s been sitting on the market for months or even years, they then just want to get it sold, we offer them a quick sale solution for a discount off the price.