24 02 2014

…A guide to buying rental property at auction

As more and more people turn to property as a key feature within their long term investment plans, ‘buying at auction’ is becoming increasingly popular.

The obvious appeal for buyers is to ‘bag a bargain’ from amongst the very wide range of properties that go ‘under the gavel’ at various auctions throughout the UK.

Belvoir recommends the following at a glance guide for anyone looking to buy at auction:


• Research the local market

• Budget for renovation costs

• View the property and have a professional survey carried out in advance

• Set a realistic budget – and stick to it

• Find out what ‘rental return’ the property could achieve

• Visit an auction in advance to observe and understanding proceedings before bidding

• Arrive in plenty of time to assess the competition

• Stay calm

• Try national as well as local auctions

• Make sure finances are in place prior to auction day

• Remember that you will have solicitor and surveyor fees, possibly stamp duty. plus the auctioneer’s fee and the cost of any repair work that may be needed • Get advice from an independent lettings or property specialist


• Bid beyond the limit you have set for yourself

• Buy a property you have not researched

• Enter the bidding process too early – it could push up the price

• Get emotionally involved.

• Bid in overly large increments

If you have any specific queries or require advise on investment properties, feel free to contact us on 01782 478444 or email We are always happy to help you.




Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: