Property Auctions - Grab Your Dream UK Home On The Cheap

Did you know that every year thousands of UK properties are sold at significantly below market value? The majority of these properties are released through property auctions where regular savings of between 10% to 40% are available to market value. Even so, property auctions continue to be used only by the elite and for the astute buyer/investor this generates a fantastic opportunity to secure a dream home/good investment at bargain basement prices.

For example, at a recent auction a studio flat was sold in London for a mere £9,000. In another, a 2 bed flat right on the south coast with a market value of upto £100,000 sold for just £14,000 at auction. And those are just a couple of examples of the bargains that people do find at property auctions. However it's also important to know the potential issues and problems when dealing with auctions and to understand exactly where the best deals are available. If you're interested in getting into the world of property auctions the below tips & tricks of the trade should be very helpful.

TYPES OF PROPERTIES FOUND AT AUCTIONS

My Online Powerpack Newsletter Subscriber Site UK Property Auctions Home Contact The following is a guide to help anyone unlock the value available through UK Property Auctions. Thousands of homes are available at any given time with property auctions, most of which are sold at prices far below market value. However it's important to know the potential issues and problems when dealing with auctions and to understand where the biggest bargains are available. Details of thousands of cheap, repossessed & auction properties are also available at Property Auction Bargains.

Its perfectly reasonable to expect to pay between 15% to 40% less for a property at auction than you would for the same property through an estate agent. For example, at a recent auction a studio flat was sold in London for a mere £9,000. In another, a 2 bed flat right on the south coast with a market value of upto £100,000 sold for just £14,000 at auction. And those are just a couple of examples of the many bargains that people find at property auctions each and every week.

TYPES OF PROPERTIES FOUND AT AUCTIONS

Repossessions – Sadly for the previous owners, repossessions can often be picked up at bargain prices through auctions. Investment properties – Properties, which are valued due to the return on investment that they provide. Includes everything from individual office/shop investments to blocks of flats.

Rundown properties – Auctions are great places to pickup properties that are unsaleable in their current state. The attraction here is if you can get such a property in a good location at a cheap price it’s perfectly possible to refurbish and resell on at handsome profits. Indeed there are individuals and organisations that make their living doing this. Unsaleable properties come under the following categories:

Derelict or in derelict areas.

Subject to severe disrepair.

Subject to local authority notices.

Subject to closing orders.

Offered with ambiguous legal titles.

Sold without access.

Sold with major fencing, paving, drainage or other similar
responsibilities.

Sold subject to covenants or restrictions, which prevent normal use.

Exceptional properties – Include ones that have historical meaning and plots which ‘get in the way’ of major development projects.

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