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Buying at auction

4 replies

Flamingosarentreal · 18/08/2022 23:43

one of my friends is recently divorced and left with buying a house at auction .
Currently she is renting in Sussex but needs to relocate to Manchester.

Can you get help with this- an agent who looks and bids on your behalf?

OP posts:
MiddleAgedTraveller · 19/08/2022 00:06

She needs the full price in cash
does she have that?

Geneticsbunny · 19/08/2022 17:28

You can put in a proxy bid with the auction house and they will bid on your behalf up to he maximum you state. However you do need the full amount in cash. You cannot buy an auction house with a mortgage and you can't get surveys or anything like that done so you just buy as seen and hope it isn't falling apart.

Flamingosarentreal · 19/08/2022 23:41

Yes, she has cash to buy. It's more the actual practicalities of buying at auction. I am going to see if there is one local to me and go to a few to suss them out . She was hoping that she could employ someone on her behalf

OP posts:
FallopianTubeTrain · 19/08/2022 23:46

if she calls the auction house and registers prior to the auction she can bid over the phone.

also, I note it’s not relevant here but you can buy at auction with a mortgage (I did)

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