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Buying at an auction is not just for property professionals…
All properties are investments in one way or another, so each auction will present a catalogue of opportunities to appeal to all type of investors
There will be those who are simply looking for a home, possibly something they can improve over time which will provide them with good accommodation and where they can see that improvements will add to the capital value . In re c ent years, parti cu larly, m o re and m o re first time and family b u yers are co nfident t o b u y at a uc ti o n. t hey sh ou ld make themselves f u lly aware o f a uc ti o n pr oc ed u re and f o ll o w the a uc ti o neers gu idan c e n o tes. Pr o fessi o nal invest o rs and devel o pers are co nstantly s cou rin g the market f o r the lar g er b u ildin g s that c an be co nverted int o flats o r are already arran g ed as sli g htly dated flats whi c h c an be impr o ved. New b u ildin g sites are always at a premi u m, and with the l o w interest rates and a basi c sh o rta g e o f new h o mes, there are plenty o f devel o pers seekin g sites espe c ially f o r small devel o pments o f five t o ten h ou ses whilst, with the pleth o ra o f televisi o n pr og rammes o n individ u al new b u ilds, a sin g le b u ildin g pl o t, will always co mmand a premi u m.
t he co ntin u ed l o w interest rates and the Stamp D u ty h o liday has added f u el t o an already eb u llient market. S o B u yers are well advised t o m o ve n o w and benefit fr o m the co nsiderable Stamp D u ty savin g . t he th ou sands o f p ou nds saved c an go t o wards th o se all-imp o rtant impr o vements. F o r th o se wishin g t o b u y at a uc ti o n
10 THE LEADING REGIONAL AUCTIONEER 2010-2020 YEARS 87 OUR SUCCESS RATE 2019-2020 % 42 2010-2020
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this is a simple and strai g ht f o rward pr oc ess. a b u yer is
advised t o o r g anise finan c e, have a b u ilder o r s u rvey o r inspe c t the pr o perty and inspe c t the le g al pa c k pri o r t o a uc ti o n. t he fall o f the a uc ti o neers g avel is an a u t o mati c ex c han g e o f co ntra c ts and the b u yer is co ntra c t u ally b ou nd t o co mplete the p u r c hase. a s a uc ti o ns are n o w held o nline a pr o spe c tive b u yer will need t o co nta c t the a uc ti o neers o ffi c e t o re g ister several days in advan c e o f the a uc ti o n. t his will then g ive them the
With the v o latility o f s o me o ther investments, pr o perty has always been a winner as a l o n g term investment and co nseq u ently f o r th o se l oo kin g f o r a steady in co me, a uc ti o ns will o ften present pr o perties that are already let and pr o d uc in g a goo d ret u rn. t his c an be fr o m an individ u al flat, a small h ou se ri g ht u p t o a f u ll HMo pr o perty.
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