Property such as office buildings, industrial units, hotels, retail premises, public houses, and garages are becoming a primary sector of the commercial property auction market with sales under the hammer occurring more and more frequently. It doesn't matter whether they are vacant or tenanted, leasehold or freehold, there are an increasingly high number of potential investors attending nationwide commercial property auctions who will consider all types of commercial investment.
Whether you are looking to sell your property or are beginning your search for commercial property for sale at
Putting up your hand and bidding on a property worth hundreds of thousands of pounds is a daunting prospect, even for experienced auction-goers. If you make the winning bid, you’ll usually have to pay a non-refundable deposit on the day, and you’ll have 28 days to pay the balance.
That means that the timeframe for auctions is much shorter than the traditional ways to buy property, and it can be difficult to get the funds together in time, even if you’ve got a lot of available equity in your property portfolio. Auction finance is a flexible product that can be tailored to suit individual needs
It's important that you view a property before you bid for it at auction. There are so many things to consider and often the most important questions are forgotten.
Ask the relevant questions by taking our helpful checklist with you on your viewing. It may also be useful to take along the property details supplied by the auctioneer to ensure that their information is accurate.
Also check the property for signs of subsidence and confirm that the exterior is in good condition especially the roof and drainage. Double check the boiler, electrics and
The UK’s largest residential property auctioneer Auction House says that uncertainty surrounding the EU referendum had very little impact on sales, and is reporting a performance level close to last year.
The group’s June figures were similar to those in 2015, with 252 lots sold (only 8 fewer than last year) but at a noticeably better success rate of 81% (a 4% increase on last year’s result).
The statistics for the first six months of 2016 indicate a rise across the board compared to the same period last year, with 1,513 lots sold out of 1,959 lots offered (a success rate of 77.2%), raising a
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
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 VALUATION via our PROPERTY ENQUIRY FORM.
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 and not just a
Residential Property Auctions are an efficient and cost effective way of selling property. Through effective marketing and advertising, auctions can offer a high degree of certainty that a sale will be achieved on a given day and, more importantly, on the fall of the hammer an immediate binding contract is formed, with completion taking place within as little as 28 days.
There are any number of reasons why people may be drawn to buying a house at auction in relation to residential properties.
First and foremost would be a home to live in as a primary residence. This is ideal for people
One of the UK’s leading land brokers has called for calm in the property sector, following Britain’s referendum vote to leave the European Union.
Adam Hesse, Director at Aston Mead Land & Planning says that despite the Remain camp’s previous warnings of disaster, remarkably little has changed in the first 12 days since the vote.
He explained: “The truth is that bids are still being brokered and deals are still being done. We’ve not had anyone pull out of any land deals as a result. In fact, we were selling a site with sealed bids on the day the result was announced – and everyone who was
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 of the UKs
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