Are You Looking to Buy a Cheap Property at Auction?
The property market has slowed down over recent years -
With repossessions also remaining high, it looks as though 2014 will continue to be busy for the auction rooms. And that means plenty of property bargains for you.
Going Through the Initial Process
A key advantage of buying at auction is the no nonsense approach. Once the hammer
falls, you effectively exchange contracts and neither party can back out. This gets
rid of a lot of the anxiety many buyers face during a property purchase -
If you want to buy a property at auction, the first thing you should do is request
a catalogue from the auction company. This will include a list of the properties
up for sale, along with detailed information and guide prices. If you find a property
that interests you, go and see it! Most catalogues will publish a viewing list -
Before you decide whether you want to bid on a property, you would likely have a solicitor go through the finer details. Your solicitor should request a legal pack from the auctioneer which should contain all the legal documents for the property.
Once you've done all the initial work, you should attend the auction. If you can't
attend in person, you can often bid over the telephone. Remember, once bidding starts,
its easy to get carried away -
If all goes well, buying at auction should be a very quick and exciting way to bag
your new property -
Property Auction Sources
Police and Government Auction Sources UK is available as a PDF document that contains 40 pages of information and access to our members area, where you can access the websites, telephone numbers and locations for auction establishments all over the UK that deal with the items mentioned above. The auction sources are split into sections: