Buying at Auction Guides
Modern Method of Auction
Learn how the Modern Method of Auction works in the UK, reservation fees, buyer risks, pros and cons, completion deadlines and whether auction or an estate agent sale is better.
Leasehold Auction Property Risks
Buying a leasehold property at auction can look like a good deal, especially if the guide price is low. But leasehold auction homes can carry extra risks that are not always obvious at first glance.
Auction Property Mortgage Risks
Buying a property at auction with a mortgage can be possible, but it is riskier than a normal house purchase. Auction deadlines are short, and some auction properties are hard or impossible to mortgage.
Modern Method of Auction Fees
The modern method of auction is an online property auction where the winning buyer usually pays a reservation fee to secure the property for a set time.
Hidden Auction Property Costs
Buying property at auction can look like a bargain, but the winning bid is not the full cost. Many buyers forget about auction fees, legal pack costs, survey fees, property tax, finance charges, insurance, repairs, and leasehold costs.
Auction Legal Pack Risks
Auction legal pack is a set of legal documents for a property being sold at auction. It helps buyers understand what they are really bidding on before auction day.
The Complete Buying Guide at Auction
Buying property at auction in the UK can be faster than buying through an estate agent. It can also be exciting because you can see the bidding happen in real time. But auction property buying is not the same as a normal house purchase. If you win the bid, you may become legally committed very quickly, so you must do your checks before auction day.
