How do you find out about property auctions for repossessed property?
Asked on Sep 23 2010,
General in Hull |
Increasingly fewer repossesions are sold via auction, most are being offered by agents first. Few are actively advertised as reposessions as lenders are trying to distance themselves from bad publicity and increasingly using asset managers to handle disposals.
However, they do still come up at auction along with other corperate disposals such as housing associations/councils and charities. As auctioneers we all place our lots on www.eigroup.co.uk, which allows you to see all the property coming to auction throughout the UK. Please note however this is a subscription website.
Answered on Sep 24 2010,
Most repossessions are advertised in the normal way on Rightmove etc, but you have to spend ages hunting them out. At the auctions you get the repos that won't sell at auction. In short you want a cheap house - auctions are the easiest place to find them. Just find out who the auction firms in your area are. Google will help. Pugh North East, Eddisons Leeds spring to mind, or type 'property auctions hull' into Google. I did and there are loads.
Web reference: http://www.leonards-hull.co.uk/pauctions.htm
Answered on Feb 11 2011,
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