Benefits Of Buying Property At Auction

The main advantage of buying a property at auction is that you avoid the lengthy process of buying a house in the traditional way. At auction, the process happens in a matter of minutes rather than months and when the hammer falls, you own the property.

The other many benefits of buying property at auction are listed below. If these don't convince you, nothing will!

A user friendly guide to residential lease extensions

If you are buying, or have bought a residential lease, it will be for a specific period of time, which is known as the term of the lease.  When that term comes to an end, the property goes back to the landlord. 

Yes, that’s right, no matter how much you paid for your flat, if you are living in it when the lease expires, you will have to move out and the landlord takes over and doesn’t pay you anything for it!

In practice, it’s not nearly as bad as it sounds. 

Auction House outperforms market in 2018

Leading property auctioneer Auction House has reported increased sales for 2018 of 6.9%, raising a total of over £455m (£455,131,080) – a record amount in the 11 year history of the group.

Last year, Auction House sold 3,680 lots from almost 5,000 lots offered (4,971), representing a success rate of 74%.

December Property Auction Closes On A High

A busy room at Strettons' 10th December auction and some steady post-auction sales helped to end 2018 on a good note by raising over £13.5m.

Notable sales include:

    A vacant freehold place of worship in Forest Gate E7 which sold for £2m

    Two intercommunicating houses in Hove which sold prior for in excess of £1.5m

Strong interest in commercial properties

From an old bank to a former social club, competitive bidding brought great results for commercial properties in SDL Auctions Bigwood’s latest Birmingham auction.

The hammer came down at £330,000 for a former branch of the Santander Bank at 25 Market Place in Nuneaton, which had a guide price of £295,000+.

Aston Mead says councils should spend on affordable homes instead

Leading land agent Aston Mead has hit out at the practice of local councils betting on the commercial property market, saying that they should spend the money building affordable homes on their own land instead.

Land & Planning Director Adam Hesse was speaking out after it was revealed that despite guidelines which are supposed to limit the practice, local authorities are still spending £100m every month buying retail centres, shops and offices, chasing returns to replace revenue lost in government cuts.

Exploring the abandoned Cornwall quarry

This abandoned stone quarry, now filled with water, is thought to be 80ft deep, but its history goes far deeper.....

If you have ever dreamt of buying your own secret wild swimming retreat, now could be the time to take the plunge.

Network Auctions Beats Brexit Blues

Network Auctions last ballroom auction of the year held at Grosvenor House Hotel on the 13th December has raised a Christmas cheer as the total £5,374,500 raised is the highest at a December sale for the firm going back over a decade.

Toby Limbrick, director, said, “It is a tough market out there, but I’m delighted to see we raised almost £2 million more this December than last year and to end the year with one of our highest for some 13 years is a great boost to the team.”

Moving House Checklist

If you’re moving house, the first thing to do is finalise your moving date, and then you can start ticking things off your checklist. Use our guide below so you don’t forget anything:

Four weeks before you move house:

Run-down London home of high profile journalist sells for £1.5m

The Georgian home of the columnist, writer and Times Literary Supplement editor, Philippa Toomey, has sold at auction (Wednesday 12 December 2018) exceeding expectations of auctioneers at Auction House London.

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