Having been watching the numerous TV programs where by people by houses at auctions and they do them up and intriguing. Coming from a family that built their own house, my father is always egging me on to do the same.
So my question is, where does one find listings for upcoming auctions and from where? Watching the TV i notice that the auction house is not usually local to the house they are selling. Anyone had any experience with this?
in Essex:
A web search for phrases like "House+Auctions+UK" or "Building+For+Auction+UK" or "Houses for auction, UK" should bring up a good few hits for you to follow.
Yellow Pages - auctioneers....
I would say that more often than not, the auction houses *are* local; and I wouldn't think you'd want to get involved with any that aren't, especially as a beginner. Look at Yellow Pages. Often estate agents are also auctioneers, if yours aren't, ask them where you'd go to by a house at auction.
Having said that, I wouldn't really recommend the auction route to a newbie. Yes, you've got the chance of bigger gains, but it can be pretty high-risk too.
David
Clough & co in N.Wales, also Dodds & Cavendish Ilkin. All are estate agents. In manchester watch the free ads papers, again its estate agents.
Rick
auctions
Usually the auctions are local, but I do remember seeing one programme where a property up north was auctioned in the midlands. I believe the buyer got what they considered a bargain as not many northerners went down to the auction, and not many midlanders went up to view the house. I thought it strange at the time that the property was auctioned hundreds of miles away, and it wasn't like it was pitched at an exclusive clientelle. I thought the seller had probably inherited, wanted to offload it quick, and never bothered to think about the target audience.
wrote | Usually the auctions are local, but I do remember seeing one | programme where a property up north was auctioned in the midlands. ... | I thought it strange at the time that the property was auctioned | hundreds of miles away ...
The bulk of auctioned property is/was mortgage repossessions. They aren't aimed at the general/local market but are often bought for investment by people who will refurbish before letting or resale, often buying unseen or on their local agent's report. (They can take that risk, I do NOT advise that strategy for an individual buyer.) The repossession agencies will use only a few auction houses for all its properties countrywide.
Owain
If you lived or intend to live up North and are looking for a placce, then I would suggest looking ate a wensite like this:-
Butters John Bee do one inStoke on Trent three or four times a year - on the one occasion I attended hoping to pick up a buy-to-let property, every price went stupidly sky-high so i didn't place a sngle bid (thankfully)
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