If you want a property buying at a property auction is probably the easiest way to get a real bargain. It is not really important what kind of property you after because you can buy land, residential, commercial and industrial property at a property auction.
Go around your local property management companies and ask them to add your name to their property auction list. What this means is that you will be notified each time that company holds a property auction. Also, add yourself to the actual auction house e-mail notification lists to ensure that you do not miss any auctions that are local to you.
If you can go to see the property prior to bidding on it. You need to know a bit about buildings to do this successfully. You are looking for any obvious big problems, such as dry rot, damp, a leaky roof or bad electrics. If you do not do this there is a risk you may pay very little for a property, but end up with something that costs a lot more than you anticipated to do up and sell on. If you find a building that you really like and there is time get a full survey done to be 100% sure that the building does not have any serious defects. You should also check that the building is not due for demolition or under a compulsory purchase order.
If you can't attend the auction but there is a property you are interested in, you may bid by proxy. Occasionally you may place a fixed bid prior to the auction.
As with all things in life the person that takes the time to do their research and sticks to their original decisions get the best bargains at property auctions. The more auctions you attend the more experienced you become and the easier it is for you to find the bargains.
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Go around your local property management companies and ask them to add your name to their property auction list. What this means is that you will be notified each time that company holds a property auction. Also, add yourself to the actual auction house e-mail notification lists to ensure that you do not miss any auctions that are local to you.
If you can go to see the property prior to bidding on it. You need to know a bit about buildings to do this successfully. You are looking for any obvious big problems, such as dry rot, damp, a leaky roof or bad electrics. If you do not do this there is a risk you may pay very little for a property, but end up with something that costs a lot more than you anticipated to do up and sell on. If you find a building that you really like and there is time get a full survey done to be 100% sure that the building does not have any serious defects. You should also check that the building is not due for demolition or under a compulsory purchase order.
If you can't attend the auction but there is a property you are interested in, you may bid by proxy. Occasionally you may place a fixed bid prior to the auction.
As with all things in life the person that takes the time to do their research and sticks to their original decisions get the best bargains at property auctions. The more auctions you attend the more experienced you become and the easier it is for you to find the bargains.
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