UK Landlord Forum / Life

Good Morning folks

I am thinking of going to a property auction in order to secure the purchase of a property that I am interested in.  It will be my very first time, so I'm not sure what to expect. 
Would someone be kind enough to explain the process to me?

I presume I am allowed to view the property before the auction goes ahead?

Presumably, at the auction, you just shout out the next highest figure that you are prepared to pay until you hear the words going, going, gone!!

Any advice would be greatly appreciated.

Our local property auctions have 2/3 "open house" viewings before the auction at set dates and times dertermined by the estate agent.

On the night, you are usually required to make a minimum 10% deposit plus fees - ours are £395.

You must then complete within 28 days.

Put your hand up for £1k, put your hand flat on the side for half...shake your head for no more.

happy bidding

You will need to register at the auction. You will need a passport and or drivers licence and a recent bill normally to get a bidding number, and a debit card which they take note of, and prove you have funds. I go to the Clive Emerson ones at St Mellion in Cornwall, which is filmed by homes under the hammer people.

You will need to view the house and the legal pack before the auction, take your legal pack to your solicitor to check if you are not familiar with covenants etc.

They are a friendly bunch, you'll be fine, enjoy!