Property Auctions

DonGotti

Are there any free sources available out there that detail property auctions (particularly in London)?

Many thanks in advance

Doozergirl

Auction catalogues are generally available for free. First people I can think of first hand for London is Allsop, they cover the whole country but hold auctions in London. You can access the catalogue online and register to be on their list.

http://www.allsop.co.uk/

Doozergirl

...or Savills

http://www.fpdsavills.co.uk/

ioscorpio

Property auctions popular with investors

Auctions are becoming an increasingly popular way to buy and sell property, with the top 20 commercial and residential auctioneers seeing a 16 per cent increase in property sold at auction in 2004, at a total value of £3.38 billion, according to the National Property Auction Index.

More people are turning to auctions to buy and sell property because of the simplicity and speed of the process, with deals agreed on the day. Auctions have become more open and transparent, and often an ideal place to find competitively priced properties.

Most buyers are currently private investors. Auction properties for sale come from a variety of sources, including private sellers, investment funds, government agencies (such as the Met. police and the army) and banks. An increase in repossessions also means there is more property coming up at auctions.

To accommodate the growing popularity of property auctions The Royal Institution of Chartered Surveyors (RICS) have published Going once, going twice, sold to... - a new guide to help owner-occupiers, developers or investors. It provides inside information on the auction process from both buyers' and sellers' points of view, from checking guide prices to proxy or internet bidding.

According to Richard Auterac, chairman of RICS' Real Estate Auction Group: "Properties on sale at auctions are usually available at a competitive price. Auctions also provide a platform for open and fair competition between bidders. Once the hammer comes down, neither the seller nor buyer can withdraw and the process is completed within a set time - with no danger of any link in the property chain breaking."

"Auctioneers recognise that to keep auctions at the forefront of the property market they need to deliver a professional service which responds to the changing needs of their clients."

To get your free guide call the RICS Contact Centre 0870 333 1600 or email: contactrics@rics.org alternatively it is available free at: https://www.rics.org/propertyauctions

littlereddevil

Anyone know any in Scotland?

Duncan_Disorderly_2

Little Red Devil,

I too am having much difficulty in finding any Scottish properties for auction. Is there a reason for this ?

Duncan Disorderly

Ian_W

Only hazzarding a guess guys - but couldn't it be that the normal Scotish system is very much like an auction?
Interested parties have surveys done, submit sealed bids by a closing date, highest bidder buys.
Perhaps with that already the norm there isn't the demand for auctions like the rest of the UK, where the system is more fraught until [often] a whole chain of purchases and sales are able to simulatiously exchange?

littlereddevil

Duncan_Disorderly wrote:

Little Red Devil,

I too am having much difficulty in finding any Scottish properties for auction. Is there a reason for this ?

Duncan Disorderly

I have heard there is a Glasgow company doing auctions in scotland but don't know their name and don't know where to find it

nelly_2

littlereddevil wrote:

I have heard there is a Glasgow company doing auctions in scotland but don't know their name and don't know where to find it

LOL. Well that was helpfull then

theGrinch

Yes, there is one scottish company doing auctions (they appeared on homes under tha hammer in one series)...again cant recall the name

scottishterrier

have just typed into "Ask Jeeves" stipulating UK sites only - auction+property+scotland you will find some clues there, get back to me if you still can't crack it. great thread have started the ball rolling today myself and am quite keen to use auction rather than roundabout usual way.