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pat59

Buying houses by auction

I am looking for a rural property

Asked on Jan 15 2010, House Prices in Boston | Report content

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  • Photo of Christopher Watkin

    Christophe...

    Forget Auction ... the stuff that sells at auction are ultra rare £1m mansions or the dross the estates agents cant sell. Pop into your local agents every month ... you will something .. especially in The Fens where you live

    Answered on Feb 7 2010, Report content
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    Estateman

    Auctions are a useful source of property and they are not restricted to £1 million plus or dross. Many lenders use this method to dispose of repossessed properties but this is often through large auction houses such as Allsop, Savills etc rather than local agents. However the properties are often in poor condition needing work though the price will reflect this. In addition you will need to be able to sign and pay a deposit on the day as the fall of the hammer is a contract, you must be satisfied that the property is in good (and probably mortgageable) condition & you will need to have funding in place for completion. Buying at auction is not for the faint-hearted

    Answered on Aug 29 2010, Report content
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