| All house prices are still rising popular areas, | | | | Examine property; surround area to make sure it |
| homes usually already under contract by the time | | | | is suitable. It is also time to have the property |
| the estate agent's board goes up. People should | | | | surveyed. Ask you solicitor to check the title to |
| also find another sources a part from estate | | | | the property and arrange mortgage for you. If |
| agent | | | | you are successful buyer you need to plan to |
| Every year around 40,000 properties are sold at | | | | complete the purchase with in 25 days of the |
| auction in the UK - many at up to 30% below | | | | auction. The list of auctions you can easily find |
| high street prices. Auction firms always focus on | | | | online. You also need to be ready to insure the |
| unusual, hard-to-value premises like churches and | | | | property from the moment you get it. |
| village halls, commercial lots with potential for | | | | Before you go to auction set your highest bid. |
| change to residential property.Usualy properties | | | | You need to estimate the total costs of |
| which need renovation get sold though the | | | | decorating repairs, surveying fees, mortgage, legal |
| auction. This is why most of the time you going | | | | and removals and any other expenses - and then |
| to find yourself in competition with professional | | | | work out how much you are willing to spend. |
| property developers. | | | | Please do not forget buyer's premium will add |
| To get property at auction requires very careful | | | | another 1.5 per cent on the top of selling price |
| planning, full attention to details and good nerves. | | | | and also you need to pay stamp duty. |
| If you succeed the reward - dream house at | | | | Pre-sale catalogue prices very often wildly below |
| good price. But if you don't do carefully | | | | the real sale price to get buyers to auction. |
| groundwork then your bargain could turn out to | | | | Property prices can go up and down throughout |
| be very costly under- the-hammer horror. It is | | | | per-sale period. Please keep in touch with the |
| worth know that some superficially good looking | | | | agent. The actual price usually set on auction day |
| properties go to auction because they have | | | | and it will be 10 per cent |
| hidden problems like dry rot, strict planning | | | | Of the reserve price which is minimum price the |
| restrictions, bad neighbors | | | | owner will accept. Once the price met reserve |
| Where to start? | | | | vendor legally obliged to sell the house to the |
| About 250 companies run residential property | | | | highest bidder. |
| auctions every single year in the Great Britain. | | | | If you are successful bidder you will need to sign |
| One, estate agent FDP Savills, holds ten national | | | | a legally binding contract after the auction also |
| auctions a year in London and seven regional | | | | you need to pay ten per cent of the property |
| auctions. It says there is very strong demand for | | | | price by cheque. Remember they do not accept |
| all types of property at auction and there is good | | | | cash. |
| market for flats and houses which requiring | | | | Try to attend auction a few times before you |
| refurbishment. | | | | start bid. It helps to get confidence. Check all local |
| Every auctioneer will send you catalogue for all | | | | estate agent just to see at what price similar |
| coming auctions at list one month in advance. | | | | property have sold for. |
| That is time for you to do you homework. | | | | |