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Property Auctions


Growth of Property Auctions


Property auctions are a great way of acquiring property cheaply.  It is also much easier than people might think to buy a property at auction.  Despite the current economic climate, property auctions are more popular than ever.  The growth of property auctions via the internet means that the property auction industry is actually expanding.


There has also been an increase in the number of residential properties that are being auctioned, as sellers try to get a quick sale of their properties.  Councils and housing associations tend to want a fast sale of their properties, using property auctions to achieve that aim.

 

 

 

 





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Finding the Right Auctioneer


Finding the right auctioneer for a property auction is very important.  It requires research on the part of the seller.  It is a good idea to speak to as many auctioneers as possible before making the decision about which auctioneer should proceed with the sale.
Auctioneers are happy to talk to any potential clients and to answer any questions. 

They will be able to give their opinion about the best price for the property and will also be able to advise any potential clients about whether the property is in a satisfactory condition to be auctioned.  


The Auction


Once the auctioneer has been chosen, a solicitor should be engaged.  The solicitor will want to check the details of the agreement with the auctioneer, such as the conditions of the sale and the description of the property that will be used at the sale.  The auctioneer will keep the client informed as to the interest level in the property.


On the day of the property auction, time will be set aside for any queries from bidders and for any last minute amendments to the catalogue to be made.

 














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