auction houses

khanom_2

Hi All
I’m thinking of purchasing a house at an auction. I was wondering is it worthwhile to pay a subscription for property auction companies/sites? Has anybody used any? Why do some charge a lot more than others and then there’s Keith Pattinson who do it for free?

I would truly value some information please as I feel this may be the only way I can own a decent home. Thanking you in advance.

real1314

Afaik most actual auction sites don't charge subs, but other sites that provide details of auction sites do.

edwardmellor.co.uk
roypugh.co.uk
eddisons.com
savills.co.uk
barnardmarcus.co.uk

keep your eyes peeled for auction signs on buildings, check local papers etc

dexters_mum_2

No, you shouldn't need to pay a subscription, in my opinion, it isn't worth it.

Make friends with local estate agents and auctioneers, let them know you are on the look out for a quick sale and if possible, let them know your buying position (ie, First Time Buyer, Casg Buyer, Investor) and be keen.

My hubby runs his own firm and we have a stock of people who are looking to buy affordable housing quickly and normally, we have an equal number of people wanting to make a quick sale and we can match them up nicely most of the time.

Worth your while checking the papers for details of auctions and their lots, which are normally adverstised a few days before the sale,if there is anything you fancy, ensure you have time to look at the property both externally and internally because once you bid and you win, that's it, you put your deposit down there and then (or within a few days) and if you pull out, there's little comeback.

Good Luck

Doozergirl

I use http://www.property-investor-news.com/auctions.htm because it's free.

They list all the upcoming auctions and there's also an alphabetical list which often includes links to the agents' websites. Those that don't have links you can just Google for.



EDIT: They still haven't updated it, lol. Maybe just because it's Christmas and there's not much up in the next couple of weeks.

khanom_2

Thanks everyone for your replies. I shall check out the sites mentioned. I will be a first time buyer and am thinking that a house at an auction will be a lot cheaper than the ones advertised in the estate agents. I don’t really know the ins and outs of it all.

real1314

don't bet on it being cheaper, property auctions seem to have gone the same way that ebay has - often cheaper with a straight forward purchase

chinup_3

real1314- i agree. lot have speculators have jumped on the auction bandwagon,including plenty who dont know what they are doing- a good amount of 'seasoned pros' have stopped going now as the bargains aint there so much. always worth remembering you have to pay 10% deposit cash in 7 days,unless thats changed.