Are auctions really the place to bag a bargain

walts1_2

I'm totally new to this and looking to buy a residential property soon through auction.

I've looked at several sites where you pay a fee and register to receive details of properties for auction in a chosen area.

Any recommendations please or am I as well sticking to local agents? I assume they won't catch all properties sold through auction in the area, is this correct?

Also do the fee paying sites include repossession properties?

Many thanks.

lostinrates

Re auctions...most of the properties I'm looking at end up as auctins or Best and Final offers. Of the two auction seems less unfair. I'm nervous about the process but, well, tough for me really. Its the standard method of sale for the property type.

Was interested in something local recently, guide price was £300k (very low guide price) sold for 555K, about 15 % down from its late 2006 sale price. IMO at under 500k would have been excellent value, and at the price it went for I think the purchasors must feel resonably pleased.

I feel the auction process is fairer than Best and Final offers, but certainly feels intimidating to me.