Auctions

alfiemama

Hi everyone
I am looking for some advice, I have a property that I just basically want to get rid of, due to money issues we are considering renting as being the best option for us. Our house was valued by 3 independant estate agents at 230k, 235k, and 239k as it is a 4 bed extended detatched in a nice area, admittedly the market is pathetic at the mo so I realise that this is not a realistic price.

Has anyone sold at auction and would this be a good idea? does anyone know how much the cost incurred are?

I basically would just like to be able to pay the mortgage of and would need about £185k, mortgage plus rent and deposit and moving cost etc.

We did sell just before xmas but we couldnt accept the offer as at the last minute we realised that the mortgage company (who we are tied in with until March) wouldnt allow the new house that we wanted to give us more than 5%.

Also we have considered using a company called A quick sale, the chap came down and said he was interested but as the house was on the market at the time for a low price couldnt do anything until it was of the market. It now isnt on the market so we are going to try this route also. So if anyone knows of any other reliable firms like this please get in touch.

To sum up we really would like to sell up, get rid of our high mortgage and rent for a while, then hopefully get back on the property ladder when prices are better.

Thanks for listening

budget_counsellor_shaz

I don't know your house is but countrywide has auctions all over the Uk. Here is the link for their website

http://www.countrywidepropertyauctions.co.uk/dynamic.php?id=calendar

HTH Shaz

alfiemama

Hi
Thanks for that, we are in Preston, Lancs so the Manchester one would be good, have you any experience with auctions, I presume you pay the fee whether you sell or not?

alfiemama

Does anyone have any experience of the sites where they can buy your house fast, I know there is a thread similar but I dont want to rent it back, just want to sell it.

victorias_dad

A landlord client of mine recently told me about a company called Yellow Apricot who auction property online, don't know much about them but they must have a website.

alfiemama

Ooh thanks Victorias I will check that out, thanks

Zahra_Smith

Hi guys. I have been on the Yellow Apricot website and they charge £199 to go into the auction and 1% commission if they sell. They say they are the only auctioneer in the UK to sell properties online and real time. I phoned them up to ask what this means and the chap I spoke to said that this means that their auction is online and you bid on each lot as if you were at the auction room itself but it happens online. He said that each lot sells in minutes like in an auction hall or as you would see in homes under the hammer. Their website address is www.yellowapricot.com. Ive forgotten the name of the person I spoke to but he seemed to know what he was talking about. He was saying that I could bid on properties from a laptop in bed, which sounded quite cool to me. I hope this helps you.

They seem to be doing everything from home information packs to arranging solicitors and mortgages and I saw a section on free advice to people in financial difficulties. The chap said that the magazine Hot Property which came out this week has a half-page Editorial on their company in their investment section and speaks very highly of them. Has anybody seen it? Can anybody tell me what it says?

Can anybody tell us anything else about Yellow Apricot? Has anybody bought or sold through them?

Myke_UK

Hi, |Im in the property business, you have other options open to you, there are plenty of investors who look for BMV property, but where 3 months ago they would pay up to 90% of the current value, with the market as it is now they would offer on average 85%. the plus side to this is that they dont need to raise a mortgage, have funds in place and can complete within 28 days in most cases. Some even offer a sell and rent back, you sell your house to them but you rent it back, save all the moving cost. ( word of caution on that option, read the small print and have a good solicitor go over the contract and only go with a recommended company)
Or sell the house yourself using any number of house selling site, very popular and easy to use.
Good luck

Trollfever

Advertise it on eBay.

BMWobbleU

Trollfever wrote: »

Advertise it on eBay.

Too many time wasters

KITCHEN1_2

Alfie,
Here in Preston you also have two local auctioneers to go with.
Pugh Auctioneers and the other is Farrell Heyworth. They both hold regular auctions. I've used both in the past for both purchase and sales and they are "much of a muchness" ,but Pugh are the slightly more expensive of the two. Perhaps attract slightly bigger numbers of bidders as well.

Costs are pretty much as stated elsewhere in reply to your posts. The guy above offers a viable alternative ,but as he says if you choose that route and it may be a good one for you then do do do the due diligence.