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.
Property Expert Series: Andy Thompson From SDL Auctions
- Part 1: Introducing Andy Thompson from SDL Auctions
- Part 2: What Steps Should I Take Before I Buy A Property At Auction?
- Part 3: How Do Property Auctions Work?
- Part 4: What Is A Reserve Price?
- Part 5: What Exactly Is In The Legal Pack?
- Part 6: Are Property Auctions Better For Buyers Or For Sellers?
- Part 7: An Introduction To Buying BMV Property At Auction
- Part 8: What Is Off The Wall Bidding?
- Part 9: Does It Matter Where I Sit?
- Part 10: Auctions Fees | What Are The Costs To Buyers And Sellers?
- Part 11: How Do I Prepare For A Day At House Auction?
- Part 12: Are Auction Properties More Commonly Vacant Or Tenanted?
- Part 13: What Are The Risks When Buying A Property At Auction?
- Part 14: How to Find and Work With Good Property Auction Houses
Working With Good Auction Houses
Amy: SDL Auctions are dotted all over the country and now you are coming up to the North West, which is great.
Is there somewhere our viewers can go online to find out more about SDL Auctions or other property auction houses around the country.
Andy: Naturally I direct you to our website. So, if you go to sdlauctions.co.uk, the whole auction fixture list is on there. And we have them pretty much all over the whole of the country, now.
For other auctioneers, the best thing to do is just Google, ‘local auctioneers’, because there are more and more popping up everywhere now.
I always say, ‘Pick up the phone’. Whether it’s me or another auction company. We’re not in the business of seeing you make a mistake.
One of the beauties of my job is that I get a lot of repeat business.
At every auction, there will be owner-occupiers but you’ll also get a lot of investors in as well. So, it’s important that an auctioneer gives a buyer the right information.
There isn’t the idea that you will sell them a house and never see them again.
Don’t be afraid of the agents. Use them, speak to them. Usually, they’ll guide you and let you know where the pitfalls are.
I would, more than happily, tell you not to buy a property if I didn’t think it was for you. It’s the right thing to do but from a long-term point of view, you’re not going to use me again if you have had a bad experience, buying at auction.
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In there we cover a range of different property strategies to help you get started on building a long-term property portfolio or creating a cash flowing property business.
We also look at ways to increase your return on investment with any of the properties you may be considering and we also have a couple of cheat sheets and downloadable documents in there as well.
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Any Questions?
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