Property Solvers Auctions

An excellent investment opportunity presented by Property Solvers Online Auctions. https://lnkd.in/dfH2raJ7

Property Development Opportunities at Auction – December https://lnkd.in/evDX2Rds For property developers, we’ve curated a selection of properties and sites across the UK that either have planning permission granted or applications submitted, available as of December 2024. Click on the link above to read the article in full.

IS AUCTION GOOD FOR FIRST TIME BUYERS? https://buff.ly/3LgNh6N There are some benefits to buying at auction that may make it more attractive than using an estate agent. Here are just a few (extracted from our article on the topic): - Auction sellers tend to be more serious and want to get a deal done; - The process is much faster. Buying through an estate agent currently takes a little over 4 months on average with no obstacles. Auction sales usually take 28 days between placing the winning bid and exchanging contracts; - If you’ve placed the winning bid and the property has been declared “sold”, the seller can’t drop out. This means you’re in a more secure position than having an offer accepted on a house sold through an estate agent; - There is often the chance to purchase a property for lower than its market value; - Many properties available at auction require significant maintenance or renovation. In buying a “fixer upper” you can add significant value, which may help you to “climb the ladder” more quickly. Call us 24/7 on 0800 044 3733 or visit us at: https://buff.ly/3LgNh6N

HOW LONG DO HOUSE AUCTIONS GO FOR? https://buff.ly/3w3rREy Much will depend on whether you’re buying or selling property at a more traditional or online auction: TRADITIONAL ("IN THE ROOM") AUCTION The length of a traditional auction generally depends on the number of lots being sold, although most auction houses will apply some kind of limit. This may sit between 1 and 6 hours for the full event. What’s more, different auctions will move at different speeds. An auction with a steadier pace should get through around 20 lots per hour. Whilst one that is speedier – something that may be necessitated if it has a larger catalogue to sell – may reach 30 lots per hour. You should be able to see the results of each auction within a few days of the event. The precise timings will vary between auction houses. ONLINE AUCTIONS Online auctions are run differently – with some going on for days. Similar to many eBay auctions, here at Property Solvers, we open up the bidding 6 days before closing. This enables buyers to get have a good shot at bidding and keeps things fair. Although it’s possible to proxy bid at traditional auctions, it also enables a wider pool of buyers to bid on properties. The growth of overseas auction buyers is a testament to this. In reality, we usually see a flurry of activity in the last half hour. HYBRID PROPERTY AUCTIONS Typically, the auction house will live stream the auction. The auctioneer will invite bids usually via bidding platform. The timeframes are similar to ‘in the room’ auctions. Call us 24/7 on 0800 044 3733 or visit us at: https://buff.ly/3w3rREy

PROPERTY INVESTOR / AUCTION BUYER PROFILING https://lnkd.in/eQFVk27E With a solid Google / online presence for key terms in our sector, Property Solvers receive a regular flow of direct to vendor quick sale enquiries across the UK.  As a result, we're building a list of serious (preferably cash) property buyers for stock that does not fit within our own criteria. This ranges from single let freehold / leasehold houses + flats through to commercial / mixed use buildings, HMOs, land (with / without planning consent) and portfolio acquisitions amongst others. If this is of interest, please take the time to click on the link above, complete the form and we'll be in touch as and when suitable opportunities arise. We look forward to hearing from you!

UK Commercial Auction Properties Under £100,000 – December   https://lnkd.in/e2mDUcCb   We have curated a selection of commercial properties across the UK, all priced at £100,000 or less, available in December 2024.   Click on the link above to read the article in full.

COMPARE CONVEYANCING SOLICITOR QUOTES https://buff.ly/3UF8P3u Property Solvers works with an established, reliable and well-reviewed panel of residential conveyancing solicitors. Simply select whether you are selling, buying, buying + selling at the same time or remortgaging your property. Then, after responding to a few key questions, the tool will provide you with a list of suitable property solicitors and their respective legal fees (and disbursements). Call us 24/7 on 0800 044 3733 or visit us at: https://buff.ly/3UF8P3u

HOW IS THE PROPERTY AUCTION PRICE CALCULATED? https://buff.ly/3Lh4YmL Auctioneers use the “guide price” at a property auction to market a particular lot. It is calculated by to give a good indication of the property’s market value and the amount for which it is likely to sell. This helps buyers to understand what they’re getting into. Usually, the guide price is calculated in a similar manner to a typical home valuation for purposes of accuracy. The auctioneers take recent sale prices of similar local properties, as well as the building’s location, features and kerb appeal. An auction surveyor will also look at any damage to the property or renovations required, and any ongoing legal disputes relating to the lot. Of course, the guide price is rarely the final figure for which an auction property sells. While bidding may start around that amount, popular properties may be the subject of bidding wars – pushing the final sale price much higher. Alternatively, if there is little interest during the period of time for which a lot is available, an auctioneer may drop the starting bid amount to below the guide price to encourage bidding. Call us 24/7 on 0800 044 3733 or visit us at: https://buff.ly/3Lh4YmL

HOW DO AUCTIONEERS GET PAID? https://buff.ly/3MjrYmk A seller will usually have to pay an average auctioneer commission percentage of around 2% – 2.5% plus VAT upon the sale of their property. This commission percentage will supplement an auctioneer’s base salary according to the number of properties they successfully sell, and the price they receive for each. To this end, it is in an auctioneer’s best interests to achieve the highest possible bid for each lot. Auction houses should always display clear and transparent information about all fees, commission rates and expenses in their sales contracts and other legal documentation. In order to effectively budget, and to find out where their money is going, both buyers and sellers should inspect this closely as early as possible. Costs to auction sellers may include solicitors’ fees, surveyors’ fees, administration and advertising fees as well as auctioneer commission. Buyers will also have to pay solicitors’ fees. Ideally, they should invest in their own survey too. There may also be a buyer’s premium or buyer’s administration fee. Of course, the buyer will also have to foot the bill for the cost of the lot. Remember: once a buyer has placed the winning bid and the property has been announced “sold”, a legal contract is formed. This means that these parties must have immediate access to funds or finance upon the commencement of the auction. Call us 24/7 on 0800 044 3733 or visit us at: https://buff.ly/3MjrYmk

HOW CAN I GET A CHEAP HOUSE AT AUCTION? https://buff.ly/3sAgoLM Extracted from our post on the topic, here are some of the approaches you can take… PLAY THE NUMBERS GAME + ALWAYS BE LOOKING It’s well worth signing up to as many portals (particularly Rightmove and Zoopla) alongside the auction sites themselves. DO YOUR RESEARCH Scour the auction listings way in advance, looking for cheap auction property for sale. ATTEND VIEWINGS Going to as many viewings as you possibly can is also a great way to eventually pick up a great opportunity. LOOK FOR THE "WRONG" PROPERTY If you're able to find a lot that doesn't seem to fit with the rest, you may be in luck. WAIT IT OUT Some auction lots command more interest - and so receive more bids - than others. APPROACH THE SELLER AFTER THE AUCTION If a lot fails to sell or is withdrawn due to lack of interest, you may still be able to buy it. PRE-BIDDING The seller might be happy to speed things up, and may just accept. PLAN YOUR BIDS CAREFULLY Don't let a sense of competition cloud your judgement. Instead, decide how much you are willing to spend way in advance. Call us 24/7 on 0800 044 3733 or visit us at: https://buff.ly/3sAgoLM