Super Fitness Health BlogWhy Use Property Auctions
Property auctions can be a great place to find property bargains. With the economic downturn repossessions are rising in the UK. Banks and building societies and those seeking to avoid repossession often use auctions as the best place to get rid of a property quickly.
Once a property has been bought at an auction all the paperwork and, of course, the payment has to be completed within 30 days. You can see why this is so appealing to sellers who are keen, if not desperate to rid themselves of a property.
Because of this prices are usually considerably lower than they would be on the open market. This allows ordinary house buyers to buy properties that would usually be out of their price range. For property developers the lure of property auctions is the chance to buy a range of suitable properties at knockdown prices.
Property auctions are held through England. You’ll also find property auctions in Scotland and property auctions in Wales, catering for their particular parts of the country.
Auctions held in London usually have properties from right round the country where as other cities tend to have properties in their area only. Some of these auctions can be very big and may be spread over a couple of days because the number of lots can be so high.
You will also find tiny property auctions held in the countryside which may only happen once a year or even longer, with only one or two properties up for sale. These days it seems, you’re never very far from a property auction where ever you may live.
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