Action Points

• Always buy as big a house as you can afford and pay as little as possible for it!
  
  
• Don't over-capitalise the property by adding on extensions, conversions etc, unless you intend to live there for a long time
  
  
• Don't buy a repossessed house at auction until you are absolutely certain of getting the finance for it
  
  
• 4 bedroom houses are always a good buy
  
  
• Look out for properties that are with more than one agent
  
  
• Choose the location with as much care as you choose the house
  
  
• Beware of redecoration carried out immediately before a property goes on sale
  
  
• ALWAYS get a structural and ground survey carried out
  
  
• KNOW YOUR VENDORS - this is the most important "buy" you'll ever make
  
  
• DON'T finalise matters until the lender has agreed that the valuation is fair

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over capitalize  repo property  repossession