Welcome to the auction property section of Investment Property Guru. Get ready to learn some fantastic tips on how to make money from buying property at auction. You will also find out about lots of different resources to help you to meet your goal to make money from buying rental property or property to renovate and sell straight on, at auctions.
You might also want to check out our property auctioneers page to find out where your nearest property auction house is.
Thanks to shows such as, “Homes Under The Hammer,” buying property at auctions is always a hot topic. Many people think you can just walk into any residential property auction and pick up a cheap bargain. Yet, it isn’t necessarily as straight forward as shows such as the one previously mentioned would have you believe.
Buying Auction Property
One of the most crucial questions anyone thinking about attending a property auction has to ask themselves is should they survey the property. After all, if they are interested in more than one property, will they have to survey more than one? This could end up being very expensive.
For more advice on surveying property, take a look at our property survey page. It might help you to put things into perspective and help you to understand whether you need to do a survey on every property you look at or whether you can sometimes get away without doing one.
Auction Property Tips
If you want to make money on a property at auction, it would be helpful if you knew a few top auction property tips, to help you to be successful in this potentially very lucrative area of property investing.
It is essential that you keep in mind that property auctions are not all the same. They do all generally have a very similar format and rules but what you will probably find is that in different parts of the country, the way the auctioneer behaves and the way other bidders behave might vary greatly. You have to understand a little about how your local auction (or whichever auction you choose to attend) works and operates.
If you plan on attending a property auction in London, you might be surrounded by and bidding against some very experienced property investors in a auction house where the auctioneer knows how to use hype and the crowd to getting bidders to compete against each other to pay more than they originally planned. In this situation it can be very difficult to buy auction property cheaply.
IF you attend a small auction house else where in the country, you could be up against local people who are attending an auction for the first time and who are purely looking at buying property to live in themselves. This auction house might only have a few lots for sale and the auctioneer might be more passionate about what he is going to have for his Sunday lunch than getting the highest bid.
IF you still haven’t had enough and want more tips on buying property at auction, then make sure you have a good look around our site because it has most of the information you need.
**Nothing on this website should be confused with financial or legal advice. If you need this, or any other type of advice, please seek the help of a competent professional. In addition, because real estate laws change all the time and differ from state to state, and even city to city in the same state, everything in these pages should be considered general marketing advice and ideas. Please see link to full Disclaimer at the bottom of this page.