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Valuation & Disposal Strategy on 106 Buy-to-Let Properties
- Client: National Corporate Recovery Specialist / Leading Bank
- Case: Buy to Let Property Portfolio
- Service: Valuation & Agency Advice
- Assets: Real Estate
We were appointed by the Administrator to provide a valuation & disposal strategy on 106 buy to let properties in a number of locations throughout the North of England. The insolvent company provided no records to assist us and the tenants varied from asylum seekers to students.
With the lack of proper records, we had to contact, inspect and value every property. In addition, we had to manage enquiries from:
- A wide variety of tenants
- The deposit protection scheme
- Local authorities
Furthermore we also had obtain& manage insurance quotes and respond to requests for repairs.
Once the situation was stabilised we then provided agency advice in order to maximise value.
Working closely with our clients helped us produce +/-60% recovery of the total debt which when bench-marked against 2006/7 lending was an excellent result.