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What should you consider when buying a property at auction?
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If you’re considering buying a house at auction, here’s what you need to do before the auction. 1. View the property. Study the catalogue and make a shortlist of properties you’re interested in buying. Then contact the auctioneers and arrange an appointment to view the properties.
We have put together our essential points to consider when buying a property at auction. Auctions can help you avoid lengthy buying procedures and there is the potential to bag a bargain but here are 13 things you need to know before you buy a property at auction!
12 Crucial Pros & Cons. to Consider First. Buying a property at auction is completely different from buying a property through an estate agent. Auctions can be a great way to buy a property, but have some serious disadvantages too that you need to be aware of.
- You can get a good deal, there are interesting properties on offer, you'll buy from a motivated seller, and it's a fast and final way to buy a pro...
- There can be hefty fees for buying at auction, there's a limited selection of properties, not everyone is eligible to buy at auction, you'll have t...
- Normal house purchases take so long because all the due diligence is done after you agree a price with the seller. Pulling together things like the...
- There are lots of advantages to buying at auction: You can get a good deal, there are interesting properties on offer, you'll buy from a motivated...
Thinking of buying a house at auction? Find out if an auction is the right option for you, the different types of auction and how to be the winning bidder.
Aug 10, 2020 · The main thing to think about is to get your finances in order before you seriously consider buying at auction. Also, read the Ts & Cs of the auction house; make sure you know what needs to be paid, and when, so you don’t encounter any unexpected hiccups on the day.
May 28, 2024 · There are, however, pros and cons to consider before you head to the auction room. Here are some things you need to know before you go. What research should I do before the auction? Auction properties are sold ‘as seen’ so make sure you know what it is you’re bidding for.
May 30, 2023 · The good news for those considering buying at a property at auction is that the number of houses and flats being sold in this way is on the rise. Many landlords are choosing to sell their rental properties at auction as they seek to exit the property market.
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