Why Buy at Auction?
There are many reasons to buy a property at auction. Motivated vendors ensure properties are available at desired prices and the open nature of the public auction means allsorts of interesting lots appear for sale. On this page you will find an in-depth guide to buying property at auction…
Large volumes of similar stock are offered at the same time suiting property professionals looking to build portfolios. Vendors are motivated to achieve sales and we ensure pricing is competitive.
All bidders are on the same level . The property is available for sale on a set day for all interested parties so everyone can have an equal chance of buying. Bidding is conducted in a public Auction room. You can see who is bidding and how much they pay.
No over bidding
You will only ever pay one bid higher than the under bidder compared with traditional closed tender where the winning bidder may be substantially higher than the under bidder.
There is no danger of the vendor ‘pulling out’ as the contract of the sale is binding as soon as the gavel falls. A missive is concluded on the fall of the hammer and the purchase is completed in a known timescale.
Auctions often offer a unique mix of properties not easily found through estate agency and can include repossessions or properties in the need of renovation or modernisation.
A vendor may consider an offer before or after the auction providing the sale proceeds on Auction terms and a suitable price is agreed. Contact us if you wish to offer on any property and we will negotiate with the vendor on your behalf.