Do you want to invest in profitable property or simply buy a new home at a bargain price? If so, you want to consider property auctions.
Properties sold at auction are often owned by mortgage lenders after repossessions, former council / housing association homes or have being empty for some time after the owner passed away.
In each case, the owner has put the property on auction for a quick sale and this can lead to some great deals on the market value.
Finding an auction
As auctions tend to cater for property professionals, rather than the general public, advertising and awareness of auction houses is limited.
A good place to start is looking through the telephone directory, yellow pages or searching on Google or Yahoo.
Another good tip is to keep an eye out for For Sale signs outside homes. Where the board says ‘for sale by auction’, call the telephone number provided. You will either get through to an estate agent acting on behalf of the auction house, or you will get through to the auction house directly.
If you get through to an estate agent, ask them for the contact details of the auction house. The...
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