There is no better place to find hidden property gems than at auction. We see an astounding level of variety every single auction, from plots of land, garages, houses, apartments, office buildings, parking spaces – if you can name it, we’ve sold it. But with such a high level of variety and number of lots to explore in each catalogue, it can sometimes be a challenge to find one that’s right for you. So, let’s got through the best ways for you to get the most out of an auction.
1. Do your research
The best way to find out if you’re onto a winner is to compare it to similar properties in the area. What are they selling for? If you’re looking to renovate the property, can you see what similar renovations or extensions other nearby properties have undertaken? To find out what is currently on the market, try Rightmove, Zoopla & On the market. Nethouseprices.com (land registry sold prices online) is a great resource to discover what other properties sold for in the post code and when.
2. Ask your agent
If you want to uncover the true potential of a property up for auction, talk to your local agent. With their experience and insight into the local area, they can give you great insight into what a property could be worth after refurbishment and with a little TLC.
3. Use a contractor
Yes, you might have big dreams for the property that’s caught your eye, but first you want to find out if those dreams can be a reality. Get quotes from a contractor for all the work you want doing before the auction to see if it’s practical and fits in with your budget.
4. Explore what’s on offer
Don’t just research properties, research the auction houses too. Essential Information Group provides information on all UK property auctions, and it allows you to search for comparable properties and access archived date for properties previously sold at auction in the area.
5. Be the first in the know
Don’t chase properties, have them sent straight to your inbox! If you sign up to Network Auctions’ mailing list, you’ll be one of the first to see the very latest lots, catalogue releases, and results of previous auctions.
6. See what’s come before
We display all our previous auctions and their results on our website, where you can compare sold prices to guide prices to get a feel of market conditions. We often see market trends before anyone else as auctions are such a fast process, so our back catalogues are a great place to see what is selling well and what’s cooling down.
The best way to find great properties up for auction is to check out our latest catalogue, where you’ll find a host of properties going under the hammer every month, or to get in touch to talk to a member of our team, who’ll be very willing to give you friendly advice.