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Auctions

Note - if there are any relevant threads to this, please advise and I will read those.

What are people's experiences of them? Are they full of property developers or do genuine buyer to live in people go to them? Are there any costs before buying, eg surveying etc? Can you get a good home without having to do it up? Is there a deal to be had?

And finally. Am I just being seduced by property programmes????
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Comments

  • Incisor
    Incisor Posts: 2,271 Forumite
    1,000 Posts Combo Breaker
    ... And finally. Am I just being seduced by property programmes????
    Worse than that, you are probably being seduced by the repeats of property programs, if you have come to this recently.
    After the uprising of the 17th June The Secretary of the Writers Union
    Had leaflets distributed in the Stalinallee Stating that the people
    Had forfeited the confidence of the government And could win it back only
    By redoubled efforts. Would it not be easier In that case for the government
    To dissolve the people
    And elect another?
  • I do take note of the dates of these programmes, so I know what you are getting at!!
  • silvercar
    silvercar Posts: 50,003 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Always, always do your research. Whether buying at auction or not, you should always survey and always check things out with a solicitor.

    Properties are sold at auction either because the vendor wants a quick sale or because they are defective in some way. The trick is to sort the former from the latter.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • geoffky
    geoffky Posts: 6,835 Forumite
    research what "bids off the wall" are..then you will find what you are up against...
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • Drea
    Drea Posts: 9,892 Forumite
    Note - if there are any relevant threads to this, please advise and I will read those.

    What are people's experiences of them? Are they full of property developers or do genuine buyer to live in people go to them? Both.

    Are there any costs before buying, eg surveying etc? If you want a survey then yes, you pay for it beforehand.

    Can you get a good home without having to do it up? Absolutely, there a lot of nice houses in auctions.

    Is there a deal to be had? No, the market is much the same in auctions as anywhere else.

    And finally. Am I just being seduced by property programmes???? I don't know. Are you?

    Questions answered :D
    Just because you made a mistake doesn't mean you are a mistake.
  • theGrinch
    theGrinch Posts: 3,133 Forumite
    Part of the Furniture 1,000 Posts
    yes some of these programmes were almost made in the last century!

    that said, I remember an episode of homes under the hammer a few weeks back where valuations were taken in july 2008 and it was contemporary unlike some of channel 4's property cack.
    "enough is a feast"...old Buddist proverb
  • GracieP
    GracieP Posts: 1,263 Forumite
    There have been some informative threads on housepricecrash.co.uk about recent auctions which are worth doing a search for. And there's certainly been a few interesting lots in recent months. Though I'd imagine most current auction "bargains" will look expensive 18 months from now.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    theGrinch wrote: »
    yes some of these programmes were almost made in the last century!

    that said, I remember an episode of homes under the hammer a few weeks back where valuations were taken in july 2008 and it was contemporary unlike some of channel 4's property cack.
    This was another "case of the disappearing new series"

    I watched them about 2-3 weeks ago and it was a new series they said, valuations were from 2008 ... but now they're back to 2006.

    Today's was quite good, couple of people on there that said they wanted to sell asap (2006), yet nothing on LR.
  • GracieP
    GracieP Posts: 1,263 Forumite
    This was another "case of the disappearing new series"

    I watched them about 2-3 weeks ago and it was a new series they said, valuations were from 2008 ... but now they're back to 2006.

    They seem to swing back and forth. I saw a number of episodes at the start of the summer that dealt with auctions in late 2007 and returned to the purchasers in Spring 2008. Then all of a sudden they were dealing with 2006. I know they put the date up at the start of the auctions, but I really think they should display the date more prominently throughout the episode. And let you know at the beginning if it is a repeat or not.
  • hollydays
    hollydays Posts: 19,812 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    As already said,some people sell at auctions in the hope that someone will buy their dodgy house and not have time or common sense to get a survey.
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