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Why would a property be listed for auction at a fraction of it's previous price?

I have found a property, being auctioned, starting at literally the lowest price the auction house offers. I have done some digging and found that the last sale, two years ago, put the property at nearly 6 figures. I am trying to discern reasons for why this would be the case.

Asked on Oct 5 2018, House Prices in West Midlands | Report content

Answers (3)

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  • Is it the same property? Has land been sold off for development? What condition is it in, and what about two years ago. Look at planning permissions, both for the property and the surrounding area. Other changes, flood risk etc.

    Answered on Oct 5 2018, Report content
  • Hello - sounds to me like there may be some latent issues. As "quip" suggests below, it's well worth doing some deeper investigations into this property to see why it's being priced so low...

    Answered on Oct 6 2018, Report content
  • It may be a marketing ploy by the auction house to generate large volumes of interest. However, as the others advised, do your own due diligence. Try and make time to attend the property as well as having a look at the searches and flood risks information. It's always a good idea to call some of the local agents in the area as they may be clued up on the house.

    Answered on Oct 9 2018, Report content

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