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Met Police Property Auction
knuckledragger
Posts: 999 Forumite
A friend of mine has told me that the Met Police are auctioning off a load of flats and houses this Thursday. They are spread all over the place including Leyton, Essex, Cockfosters, Hendon and Colindale.
It might interest some people, 3 bed houses with a guide price of 150-190K. If I could just remember the auctioneer they mentioned, doh!
It might interest some people, 3 bed houses with a guide price of 150-190K. If I could just remember the auctioneer they mentioned, doh!
...and then the window licker said to me...
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Comments
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It's an auction. I cannot see what the name of the vendor has to do with it.
It's probably the Allsop auction you have in mind, here:
http://www.auction.co.uk/default.asp?Auction=RNo reliance should be placed on the above! Absolutely none, do you hear?0 -
It was Allsop! Thanks for that....and then the window licker said to me...0
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Dont you need to pay for the house within a week or something? How do auctions work?:j BABY A :j0
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No you need to have funds available on the day to cover generally 10% of the purchase price that you pay there and then. There is normally then a deadline of when you need to complete by, a lot of auctions set that at a month so in order to bid ideally its best to be a cash buyer, if not then to have a fighting chance of meeting the deadlines then a mortgage in place and no chain. Police houses in the past have been complete bargains, but in todays age where auctions are more and more popular, they may not be so cheap. In saying that, if you an keep to the conditions of the auction house, then go along you might bag a bargain.0
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Seems like the majority of properties went for significantly more than the estimated price....and then the window licker said to me...0
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Auctioneers set fairly low estimates to get people interested. IMHO properties generally fetch a fair price if exposed to the market.No reliance should be placed on the above! Absolutely none, do you hear?0
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