Buyers

Auctions traditionally used to be the forum for landlords and speculators buying and selling houses, and where old, dilapidated properties could be bought for a song. The marketplace is changing. Landlords and speculators still buy and sell at auction, but they have been joined by a confident new breed of buyers and sellers – the young professional bidding for a bijou studio to use for sleep in between work, the young first time buyers with a deposit from parents, the parents who are buying for son or daughter to live in whilst at university….

To buy at auction, you will need to have access to funds of 10% of the sale price, or a minimum of £2,000 whichever is the greater. You will also need identification in the form of a drivers licence or passport and utility bills (not mobile phone bills).

An inspection of the property is recommended, and this is at your own risk.