Property auctions can be a great place to pick up a 'bargain', whether you are looking for a home or an investment.
As well as being a quick and relatively hassle free way to buy a home, no driving around viewing endless houses, no negotiations, and no last minute fall through if the house sellers get a better offer, the auction process is easy. You simply look through the auction catalogue, find a property you like, arrange a viewing and do some research, and show up prepared on auction day.
However, buying at a property auction does require careful planning. Thousands of properties are sold
A luxury six bedroom property on a gated estate in Surrey has sold for £2.8m at Auction House London’s recent sale (Wednesday 21 February 2018).
Bidding started on the property in Kingston upon Thames, which included a house, garaging and annexe, at £2.5m, and quickly rose by £200,000 with tension rising in the auction room. Thornley which is part of Coombe Park, had been on the market through traditional estate agents for 2 years and came with planning permission in place, for its demolition, and replacement with another six bedroom property. After fierce competition between potential buyers
At its first auction of the year, Acuitus raised £27.57m from the sale of 43 properties.
Picking up on last year’s trend, private investors continued to target lots of around £1m and remain keen on prime retail assets on strong High Streets.
A 5,949 sq ft shop at 45 High Street, Broadway in the Cotswolds which produces a current rent of £108,600pa was guided at £1.45m and sold in the room for £1.79m. The sale reflected a yield of 5.71%. It was bought by a high net-worth investor.
In Weybridge High Street, a 1,948 sq ft shop let to Holland & Barrett until 2021 with two flats above sold for £930
Research by the UK’s leading auctioneer suggests that the auction market is continuing to prosper, while estate agent sales are still struggling.
Auction House says the latest data from the Land Registry indicates that 2017 saw a 21% decrease in residential sales compared to 2016, whilst the group’s own auction figures were at record levels.
Auction House Founding Director Roger Lake said: “We had an excellent year in 2017 with 3,485 lots sold – which is over 1,250 ahead of the second largest auctioneer. Also, our entries this month are up again year-on-year, with 740 lots catalogued for
A Grade II-listed pub dating from 1752 and gutted by the 2007 flood has sold at auction for £250,000 - two and a half times its guide price - in a strong first auction of the year for Mark Jenkinson and Son.
The historic Farfield Inn survived the Great Flood of 1854 but was gutted by the city’s flood more than a decade ago and has been disused ever since.
As a result the coaching inn premises on Neepsend Lane is a very poor state of repair with complete restoration required. But despite the guide price of £95,000the landmark building sold for £250,000 at the January auction which saw total
Selling property at one of our future auctions will be cost effective, simple, fast and stress free.
If you feel that this method of sale might be right for you, why not get the ball rolling and get in touch for a FREE PROPERTY VALUATION via our ENQUIRY FORM (click on the link to be directd to a short form for you to complete and submit so that one of our auction team can call you back).
If you’re looking for a speedy sale and certainty that a buyer won’t bail on you then auctions are a good way to go. Once the hammer falls the buyer has to put down a 10% deposit, then they have 28 days to
Those looking for the ultimate Welsh hideaway holiday home need look no further than a Holywell cottage in the woods, which goes under the hammer with SDL Auctions Cheshire and North Wales later this month.
Y Coed, Tan Lane, Ffynnongroew, Holywell, Flintshire, will be one of the most intriguing lots in the auction at Chester Racecourse on Tuesday 27 February.
It is the first time Y Coed has come to the market in many years, and Edward Feather, senior valuer and auctioneer at SDL Auctions Cheshire and North Wales, is really excited at the opportunity it offers.
A substantial mixed-use property in Wales with an established income stream of nearly £30,000 per annum is going under the hammer in SDL Auctions Cheshire and North Wales’ first auction of 2018.
Liverpool House on Corwen Road, Pontybodkin in Mold has a guide price of £150,000+ and is one of 54 lots in the catalogue for the auction at Chester Racecourse on Tuesday 27 February.
The property is bringing in rent of £8,080 per annum from a hair salon and beauticians in two ground floor retail units, and another of £21,580 per annum from four one bedroomed flats on the ground floor and upper
SDL Auctions Graham Penny’s 2018 Nottingham auctions got off to a great start with over £1.8m raised in the 31 January auction held at Nottingham Racecourse.
The auction was held in the week when SDL Auctions Graham Penny was once again named as the top auctioneer in Nottingham by the Essential Information Group.
Early lots sold well with 76 Chadwick Road, Nottingham, a three bedroomed semi-detached house requiring modernisation and improvement, achieving £133,000 from a *guide price of £80,000.
Similar success was enjoyed for 7 Staverton Road, Bilborough, an extended, three bedroomed semi
Acuitus Finance - in conjunction with Octopus Property - has developed a Pre-Approved Auction Bridging Loan to streamline the process of buying properties at Acuitus auctions.
The auction room and the finance market operate at different speeds. If an investor buys at auction they have 4-6 weeks to complete the purchase but organising finance can take much longer than this - sometimes months.
The new pre-approved loan product has been designed to address this mismatch. Octopus Property will provide a 50% loan-to-price bridging loan based upon the price paid in the auction room and with no other
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