Properties are usually repossessed when an owner has defaulted on their mortgage and fallen into arrears, or the mortgage lender, who – as a result - applies to the courts for the issuing of a repossession order. This is usually followed by an eviction order. That’s how most repossession houses enter the real estate market as houses for sale.
The sale of the property goes towards paying off the previous owner’s debts, and the lender is legally obliged to get the best possible price. In order to recoup their investment as quickly as possible, lenders will often price the property below market
CLIVE EMSON'S RESULTS SO FAR THIS YEAR SPEAK FOR THEMSELVES
February Auction - 159 lots catalogued, 87% sold, £20.5 million raised
March Auction - 170 lots catalogued, 80% sold, £19.8 million raised
May Auction - 152 lots catalogued, 81% sold, £24.5 million raised
June Auction - 145 lots catalogued, 84% sold, £18.5 million raised
YEAR-TO-DATE TOTALS (SO FAR)
626 lots catalogued, 83% sold, £83.3 million raised
They have a regular programme of auctions throughout the year, held at five local venues. Full dates, times, venues and areas covered can be found on their website.
Many people new to buying land may have an idea of what they want, but they do not know where to begin. Land for sale is rarely advertised on the high street and often exchanges hands between farmers, developers and existing land owners. Land Auctions provide an alternative route to buying land for sale in UK.
Some land agents hold regular land auctions and a lot of people in the business of flipping land will use this method of sale. They do this because buying land at auction can mean getting plots at a reduced rate. A piece of land up for auction is no doubt a piece of land that the
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If you’re looking for a speedy sale and certainty that a buyer won’t bail on you then selling your property at one of our future auctions is a good way to go.
Selling at auction also widens the potential market, not only will there be buyers who want to make it their home, there'll also be investors, developers and property dealers interested in buying. In many cases an auction could prove to be the best method for selling your property
There are many property auction sites out there, but we believe that we are the best due to the wealth of information that we provide our visitors. If you want to know anything about selling your property at auction, or buying property at auction, simply visit the Selling and Buying areas within our auction site.
We are one of only a handful of property auction sites that provide up to date and accurate details on forthcoming property auctions around the whole of the UK; Working closely with the UK auction houses, our subscription-based service allows our members to view informative property
Auction House sales figures in May marked the fifth month in a row of improved fortunes for the group. Its five month results from January are currently 8.8% up on 2015, with 1,250 sold at a success rate of 76% and £165m raised.
Commenting on the figures, Auction House Founding Director Roger Lake said: “These results strengthen the case for regional auctions at a time when the residential market is struggling. The combined effect of Stamp Duty changes and reducing tax relief on Buy-to-Let mortgages is coupled with increasing uncertainty ahead of the referendum on Britain’s membership of the
Barnett Ross raised £16.9m at its May auction amid a “notable increase” in demand for commercial lots.
Success Rate: 93.33% - only 3 lots unsold
Total Raised: £16,981,500
4 Lots located in London offered on behalf of Executors all sold well including the largest lot of the Auction - Mountfield Court, West Heath Road, Hampstead, a Freehold house arranged as 3 flats, which sold for £2,850,000 from a guide of £2,400,000.
Auctioneer John Barnett had advised the family for over 50 years and was thrilled to have been instructed to handle the sale and by far the most popular Lot was a vacant mews
A marina complex on the Essex coast at Brightlingsea sold for £6.6m as the Acuitus May auction raised £54.03m with the sale of 67 properties.
The 7.44 acre property encompasses a 50-berth marina and 133 homes plus shops. It produces current annual income of £483,430pax and sold at a yield of 6.8%.
Acuitus auctioneer, Richard Auterac, commented: "The marina was a complex sale which required a strong working relationship between ourselves and our clients, their solicitors and the joint agents. We were delighted that the considerable effort that was put into this sale before the auction produced
The main advantage of buying a property at auction is that you avoid the lengthy process of buying a house in the traditional way. At auction, the process happens in a matter of minutes rather than months and when the hammer falls, you own the property.
The other many benefits of buying property at auction are listed below. If these don't convince you, nothing will!
Low prices
Auctions really do offer the chance to secure property at bargain prices. Thousands of properties are sold at auction in the UK every year - and many are hard to value, meaning they often sell at below market value. You
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