London, the vibrant and cosmopolitan capital of the United Kingdom, is renowned for its thriving real estate market. With its rich history, iconic landmarks, and diverse neighborhoods, London presents an array of investment opportunities for property enthusiasts. One avenue that attracts both seasoned investors and newcomers alike is the world of property auctions. This article delves into the allure of properties for sale at auction in London and highlights the benefits of exploring this exciting avenue for prospective buyers.
Open Market vs Property Auctions: With a normal open market transaction, neither the buyer nor seller is committed to the sale until written contracts are exchanged. So there is a period following the acceptance of the buyer’s offer when investigations will be made as to the seller’s title and making various searches and enquiries about the property. Only when all this has been done, and the buyers are willing and able (in funds) to purchase, will contracts be exchanged and both parties committed to completing the deal.
Auction bridging finance is often the ideal solution for property developers seeking a speedy loan solution. Convenient and quick, an auction bridging loan allows developers to make rapid decisions and take action immediately. As a result, developers can pursue lucrative opportunities that may otherwise be out of reach.
Bridging Finance Auction Property
Why Do Property Developers Purchase Properties At Auction?
Purchasing properties at auction is commonplace amongst property developers. Frequently, auctioned properties are more affordable, making them an attractive option. Many developers
Auction House is reporting its most successful May in the 16-year history of the group.
The month saw the most lots offered and sold, as well as a record-breaking amount of money raised. In May 2023, Auction House offered 707 lots and sold 537 of them (a 76% success rate), raising £72,650,604 – the highest-ever total for the month.
Compared with 2022, year-to-date figures increased, with the number of lots offered up 29%, and properties sold by 16%.
Commenting on the figures, Auction House Managing Director Jeremy Prior said: “What these figures prove is the remarkable confidence
More than £18m raised in Clive Emson Auctioneers' 15th June auction, with 140 lots across southern England.
KINGS BID: This mixed-used former restaurant premises (pictured above) in Kings Road, Brighton, with self-contained upper parts, fetched £444,000 in the June auction by Clive Emson Auctioneers. Lot 133, which attracted 53 bids, went for £69,000 above the guide price and was among 140 lots listed across southern England. The firm’s next auction ends on 26 July, with bidding live 48 hours beforehand and the catalogue live from July 7.
Bidding war as Sussex smallholding sells for £855,000 at auction
An auction bidding war led to a smallholding and land near Hailsham to sell for £855,000 at auction this week. (thurs 15 june)
Bolneys Farm, in South Road, finally went under the gavel after sustained bidding in the latest auction held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.
The property generated almost seven times the freehold guide price at the 140-lot auction which ended on Thursday 15 June.
The property, a smallholding plus nine acres of land with potential
A property (pictured below) previously arranged as four flats with a large cellar, courtyard and parking in Torquay, Devon, has sold for £266,000 in an auction bidding war.
Located at 125 Babbacombe Road, three of its apartments have been stripped for refurbishment while the fourth requires modernisation.
The building was among 140 lots listed across southern England by Clive Emson Auctioneers in the firm’s June auction.
Audrey Smith, Senior Auction Appraiser, said: “There was keen interest, with 61 bids made and the hammer coming down on £266,000, which was £141,000 more than the
A former library in the heart of an historic south Wales valleys town has gone up for auction in what is fast becoming a property hotspot.
The fully let property in the Eastern Valley UNESCO World Heritage town of Blaenavon, Gwent is being sold at auction by Newport-based Paul Fosh Auctions.
Debra Bisley, of Paul Fosh Auctions, said: "We've had loads of interest in properties in Blaevanon over recent months with a number of these often quirky and of architectural interest being sold at one our auctions. It's becoming quite a property hot spot.
Auction House London continues to buck the market trend with sales under the hammer reaching its own all time high with 182 Lots selling this week at auction during a single livestream sale lasting 12 and a half hours.
£30m (£30,513,500) was raised in its recent sale (Wednesday 24 May 2023). The appetite for buying at auction is clearly there with many properties going into extended bidding wars including Lot 2 – a three-bedroom mid terrace in Poplar Street, Romford. It was guided at £225,000 before the hammer came down at £385,000.
