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 plumbing in the property and make sure they are
If you're a resident of Antrim, Fermanagh, Omagh and Dungannon in Northern Ireland, or Babergh in Suffolk, congratulations: you live in one of the five happiest places in the UK.
That's the verdict of a new report that measures the wellbeing of people across the country.
People in the UK are more satisfied with their lives than at any time since 2011, the Office for National Statistics (ONS) has said.
The twice-yearly survey of wellbeing shows life satisfaction and happiness indicators are up on last year's figures. Anxiety has also fallen, according to the survey of 165,000 people.
Auction houses often focus their attentions on unusual, hard-to-value premises such as churches and village halls. You’ll also find pockets of land, repossession properties, properties in need of renovation and commercial lots with potential for change to residential use.
However, there has been an upsurge in residential properties that don’t necessarily require renovation or development, as vendors turn to auctions to achieve a faster and more efficient sale of their home. That means an auction could be a great place for first time buyers to snap up a bargain.
Remember, if you've decided on the property that you want to bid on, and have everything in place in order to attend the auction, then the final piece of advice, in the run-up to the auction, is to keep an eye on the 'guide price' (this is the price listed in the catalogue). Before the auction, contact the auction house just to make sure the property is still available.
Also make sure you have made a decision on what your maximum bid will be. This will be based on your view of the property's value (having carried out viewings and local searches) rather than the guide price, and on the money
A property auction can be a thrilling way to buy property, and snap up a bargain. They aren’t just good for buying repossessed homes, it’s now possible to buy all kinds of properties at auction. However it is essential that you do your homework before trying to buy a property at auction, and you need to put a number of important things in place before you go. It does't matter what your reason for buying at auction is, the key to success is preparation.
Before you go to auction to buy a property there's a lot of groundwork that needs to be done. A good place to start is by making a list of
So we've covered some of the reasons for selling property at auction, now let's turn to buying at auction.
People buy at auction for lots of reasons. They may want to move quickly or they could be looking for a plot of land to build on, a repossession, or quite simply they want a quick purchase without the risk of gazumping. Also, many buyers looking for investments buy at auction as a catalogue full of properties gives them lots of opportunities to choose from.
To help you decide whether you want to explore the world of auction a little further, we've listed a few of the main benefits of
Roma Finance, the specialist property bridging lender, has seen a 32% jump in bridging over the last 3 months fuelled by a marked increase in business from self-employed property landlords and developers.
The hike in self-employed clients has grown, as many seek finance for investment property purchases, renovations and change of use to generate rental income.
Recently published figures from the Office of National Statistics (ONS) show that self-employment is at a 40-year high, and in 2014 there has been an 11.5% increase in the number of people becoming self-employed in the ‘Real Estate
Although property auctions have historically been used for sales of repossessed homes, they are growing in popularity amongst vendors of all kinds of properties looking for quick sales. It might be something that you've considered or you want to find out more about, so why not spend a couple of minutes reading our step-by-step guide to selling your property at auction
And if you want to chat a bit more to one of our auctioneers, drop us a few details about your property.
Rental price growth across the UK eased in August, with the average rent in the UK now at £921 a month, compared to £851 a year ago, according to the data from the August HomeLet Rental Index.
The average monthly private rent in London stood at £1,464 and in the rest of the country £729 although some regions that were previously showing high growth month on month have fallen and in total the average monthly variation in rent across the UK was 2.3%.
Only London at 2.4% and the South East at 3%, registered increases of more than 2%. East Anglia and the South West, both of which have been
There are a number of advantages to selling your property at auction - the speed of sale being the main attraction with the whole process taking around 6 weeks, plus the reassurance that when the hammer falls your property is sold.
Selling at auction also attracts a wide range of potential buyers - not only will there be people who want to make it their home, there'll also be investors, developers and property dealers interested in buying. An auction doesn't have to be the last resort, it could prove to be the best method for selling your property.