Investors who buy up London property in the hopes of making a profit are increasingly getting disappointed when it comes to selling.
“As prices fall, many property flippers are unable or unwilling to complete, so face either selling at a loss or losing their deposit”, Black Brick Founder and renowned buying agent, Camilla Dell shared in The Financial Times this week.
Reflecting on her own experience with property flippers for luxury London homes, Camille explained: “The price you negotiate off-plan is the price you pay at the end, even if the market has fallen 30 per cent. Your mortgage lender doesn’t care if it’s gone down. As the buyer, you can inject the equity yourself, or you fail to complete,”.
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