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Has anyone bought a house via auction?

3 replies

NoEffingWay · 13/07/2023 18:27

What was it like, and was the price guide well below what it sold for? Was the house in serious need of renovation to make it liveable?

DH and I will receive a sum of money in the next few years that would mean we could maybe buy a doer-upper rather than renting forever.

Looking on right move it seems that everything in the lower price ranges is at auction, which makes me nervous.

OP posts:
NoEffingWay · 13/07/2023 21:46

Bumping Grin

OP posts:
shieldmaiden7 · 13/07/2023 21:50

No experience in buying but my parents sold their flat they use to rent out via auction. It was really quick exchange of money when the auction finished, I think it was live for 3 weeks and went a good 5k over asking price. Apart from some much needed decorating you could have easily moved in right away.
Its apparently becoming increasingly popular and something we looked at when we bought back in September.

Doggymummar · 13/07/2023 21:51

I did about 30 years ago. You need to be able to complete in 28 days, well we did. We bought a 1930s house the council had compulsory purchased as a road was going to be widened. It had been empty for several years and we could barely get through the front door.

It was 5 bed detached in a huge plot. We spent the same doing it up as we PAID for it. And then I caught him sleeping with the aupair and that was that. No need to be nervous so long as you have the CASH. you get all the surveys etc. Ours was 59k over the guide price as a couple of builders were wanting it,

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