How to Find a Property Auction Bargain

  Property auctions are a great place to find a variety of properties and opportunities. Many properties end up in auction for a number of different reasons – it could be that a quick sale is needed (e.g. repossession), a best market price needs to be achieved (e.g. housing association stock), the house requires refurbishment (difficult to get conventional lending), the property is unusual (e.g. a water tower) or there are complicated legal issues which make it difficult to sell via private treaty (through an estate agent). Auctions can offer great opportunities for property investors as some properties can be bought at “below open market value” and in some cases properties can sell for around 50% of their “market value”. However, the key is in understanding what the “market value” is and in understanding the different risks associated with the property. To understand if a property is a potential bargain the...
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