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Post by mattythestokie on Jun 29, 2019 13:50:49 GMT
Looking at buying my next house at auction. Wondering if anyone here had done so and got any experiences or tips about doing so?
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Post by zerps on Jun 29, 2019 13:59:04 GMT
Make sure Dion Dublin’s there
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Post by thevoid on Jun 29, 2019 14:02:23 GMT
I'd sooner have Lucy Alexander there
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Post by zerps on Jun 29, 2019 14:03:00 GMT
I'd sooner have Lucy Alexander there Horses for courses |
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Post by harryburrows on Jun 29, 2019 14:03:12 GMT
Looking at buying my next house at auction. Wondering if anyone here had done so and got any experiences or tips about doing so? Spend a bit extra and get a full structural survey |
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Post by zerps on Jun 29, 2019 14:05:23 GMT
Yeah it’s all about the actual structure
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Post by kelw on Jun 29, 2019 14:43:21 GMT
Make sure Dion Dublin’s there He'll make sure it has stairs leading to the bedrooms for you |
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Post by LL Cool Dave on Jul 2, 2019 8:10:58 GMT
Bid the highest price. Usually works for me.
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Post by rickyfullerbeer on Jul 2, 2019 17:21:24 GMT
Watch out for Lot 37
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Post by tuum on Jul 2, 2019 18:02:31 GMT
I just sold a property at auction. Glad to get rid of it. Absolute nightmare. The legal system is now heavily loaded in favour of bad tenants. Everything falls on the Landlord. Even the letting agent has very limited liability. He fucks up, the Landlord is still liable.
The process itself was very easy. Total costs were about 2,500GBP. This is a bit on the high side i think but I live overseas so there is always a premium to pay unless you want to spend countless hours researching the market and negotiating with solicitors etc. One point to note is that the reserve price cannot be more than 10% of the guide price. If you know this then you can get a feel for what the owner will accept. Obviously, it depends on how many people are bidding but if you are the only one interested you will know the max price to bid at. So, if the guide price is 100,000. If the bid goes to 110,000 the owner cannot refuse to sell.
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