If you are concerned about the prospect of going to your first property auction, don’t worry. Get in touch with the auctioneer and let them talk you through it. The truth is, like any business, the auction houses want to see their customers happy and coming back. [Read more…] about How to Find and Work With Good Property Auction Houses
Andy Thompson from SDL Auctions
There are many risks to buying a property at auction but they are all avoidable if you prepare, properly. The trick, as always, is to do your homework. Today, we look at a cautionary tale of a man who got a little carried away in the moment and ended up spending £500,000 on five houses he should never have bought. [Read more…] about What Are The Risks When Buying A Property At Auction?
Auction properties come in all shapes and sizes. They can be tenanted or vacant and you need to do your research to avoid any nasty surprises. For an investment property, having a tenant in place can be great but, of course, that depends on who that tenant is and whether they are reliable with their rent. [Read more…] about Are Auction Properties More Commonly Vacant Or Tenanted?
On the day of the house auction, you will need to bring your debit card or chequebook, two forms of ID and the contact details for your solicitor. Because there are legally set deadlines when you are buying property through an auction house and everything happens a lot faster than if you buy through an estate agent. [Read more…] about How Do I Prepare For a Day at House Auction?
Property auctions involve fees for buyers and for sellers. For sellers, the fees are straightforward. For buyers, they can be a lot more complicated. The trick is, as always, to read the auction legal pack. There can be fees in there which you will need to know about before you put in your bid. [Read more…] about Auction Fees | What Are The Costs To Buyers And Sellers?
At property auctions, the shrewder investors tend to stand at the back but the important thing is to place yourself wherever you feel most comfortable. There are advantages to being able to get a good look at the room but when it comes down to it, bidding tactics are not the most important things to be worrying about. [Read more…] about Property Auctions – Does It Matter Where I Sit?