Buying property at auction
Discussion
Hi Guys I cant thank you enough for the great advice, yes I was looking to find a property a little cheaper than the norm due to my limited funds.
From all the advice Im now weighing up Risk and Hassle Vs. the potential gains and as you've mentioned it doesnt seem as attractive as I once though. I think too much exposure to homes under the hammer!
Does anyone know if all probate property goes through auction or there are other ways to aquire it?
Also anyone know a thing or two about empty homes?
Thanks again!!
Dr1ve
From all the advice Im now weighing up Risk and Hassle Vs. the potential gains and as you've mentioned it doesnt seem as attractive as I once though. I think too much exposure to homes under the hammer!
Does anyone know if all probate property goes through auction or there are other ways to aquire it?
Also anyone know a thing or two about empty homes?
Thanks again!!
Dr1ve
Thanks Manks.
Yeah I think I will be following this route in any case just in case there is something that comes up quickly as you mentioned.
Sorry as for empty homes I mean I was recently reading about how many empty homes there are in the UK and that there are grants and such to help get people into them. I was wondering if it was a viable option.
I am an amatuer DIY'er but would attempt some minor works myself and leave the rest to the experts. Luckily for me I have quite a few builder friends so could get some professional work a little cheaper I think.
Yeah I think I will be following this route in any case just in case there is something that comes up quickly as you mentioned.
Sorry as for empty homes I mean I was recently reading about how many empty homes there are in the UK and that there are grants and such to help get people into them. I was wondering if it was a viable option.
I am an amatuer DIY'er but would attempt some minor works myself and leave the rest to the experts. Luckily for me I have quite a few builder friends so could get some professional work a little cheaper I think.
Yeah I did think that houses deteriorate pretty quickly when empty. This thread has really opened my eyes.
Its a shame though, it seems ludicrous that there is such a high demand for homes and that many homes empty. But as you suggest there will be good reasons for this in many cases.
But surely looking long enough and with the right research there has to be bargains to be had otherwise why would there be so many private buyers for auctions??
I have also seen alot of auction houses that have properties marked as "sold prior" to auction. How does this happen? I assume the buyer puts in an accepted offer before the auction. Surely that would be a good way to pick up a property with out some of the risks an auction brings and get you a bit og a bargain? How would that benefit the auction house?
Thanks again guys
Its a shame though, it seems ludicrous that there is such a high demand for homes and that many homes empty. But as you suggest there will be good reasons for this in many cases.
But surely looking long enough and with the right research there has to be bargains to be had otherwise why would there be so many private buyers for auctions??
I have also seen alot of auction houses that have properties marked as "sold prior" to auction. How does this happen? I assume the buyer puts in an accepted offer before the auction. Surely that would be a good way to pick up a property with out some of the risks an auction brings and get you a bit og a bargain? How would that benefit the auction house?
Thanks again guys
Manks said:
Yes, when a lot is sold prior someone has come forward with a sensible offer before the sale and the buyer has taken the "bird in the hand". The auctioneer's commission might be slightly higher if the lot goes to the room, but then it may not sell at all. Bird in the hand again.
You had or seen any success with the above Manks?Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff