Smith and Sons Tips For Buying at Auction

If new to buying property at auctions, it’s important to spend time planning in the days leading to the auction in order to really get the best out of the process.

Check out our Auctioneers Chris Johnsons Top Tips:

1. Each auction house will have their own catalogue – make contact and request a copy or download a version via their website
2. Identify which properties you’re interested in and contact the auctioneerto find out more, research the property on the internet, then arrange a visit
3. If you’re going to make a bid, make sure you or your solicitor have read the legal packs
4. Know your limit and set yourself a final figure that you’re prepared to bid to
5. Make sure you have your finances in place. A 10% deposit is payable on the date together with a buyers fee and the remaining 90% normally within 28 days
6. Buying at auction is legally binding and you will be asked to sign a contract on the day