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Tom99 wrote: »
Whichever of the two flats you go for check out the service charge and any upcoming repairs as the block looks like a potential money pit.
deannatrois wrote: »
And funding for any major repairs by the freeholder (big enough sink fund etc). There is usually a reason why properties are offered at auction. Look for these reasons.
FreeBear wrote: »
If the auction house will allow it, entering a proxy (or postal) bid would save getting caught up in a bidding frenzy.
getmore4less wrote: »
First one says under offer
Enm1 wrote: »
Just need to be disciplined on the auction day and not get carried away as we attend an auction recently and there was quite a frenzy and everyone could feel the tension in the room for some properties.
eddddy wrote: »
If there's a frenzy, don't get involved. Wait until the frenzy has finished before bidding.
If there's a frenzy, it tends to be because of illogical bidders.
For example,3 or 4 bidders have a limit of around £250k for a property
Bidding is moving up towards £250k
Illogically, those 3 or 4 bidders all want to get a bid in before it reaches £250k
(I guess they just want the buzz of telling people that they made a bid at a property auction.)
The property eventually sells for £280k
It's far more sensible to wait until bidding has calmed down at about £270k before bidding (assuming that's still within your limit).
kinger101 wrote: »
I've not dug into the underlying figures but the article does state:"LSBU wins this award, having jumped into the top four for graduate prospects nationally, with nearly 89 per cent of graduates in professional graduate-level jobs or further study six months after graduation.""Median LSBU graduate salaries start at £26,000, which is among the highest in the country."
I suspect they've not standardized this data by type of entrant (mature, postgraduate, international) but the fact is while it's not somewhere the most academically able might choose, it does offer a high proportion of vocational courses which will improve the prospects of those undertaking the course. This is what is likely being reflected in the stats.
Not everyone can get 3 or 4 good A-levels, but it doesn't mean there shouldn't be opportunities for them to continue education and gain skills valued by employers.
Enm1 wrote: »
Presumably the auctioneer will take the price up to our maximum bid if they know what we're prepared to pay? I'm guessing you may get a better deal if bidding in person?
FreeBear wrote: »
I've been to auctions where proxy bids have been entered (and done a couple myself). You don't get any extra brownie points for bidding in person, nor is there any special deals to be done. What normally happens with proxy bids, is the auctioneer looks at the reserve price then looks to see who has entered bids. If the bids are above the reserve, he picks the highest one and then opens the bidding to the floor at (as an example) £1K above the next highest proxy bid. The auctioneer will then bid on your behalf against the room until either you "win", or the room goes above your limit.
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