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Buying or selling your commercial or residential property at auction is becoming increasingly popular, especially for those looking to avoid the lengthy, stressful, and often unpredictable nature of buying a property.
Whether you are a landlord looking to expand your portfolio, or you are looking for your first home, buying at auction can allow you to enjoy a whole host of perks.
Here at Homepoint, we can help you complete the entire process, from auction to full completion. We can even remain by your side when the contracts are being exchanged.
Here is a closer look at some of the benefits of buying at auction.
A faster process
Buying a property can be a long and often stressful process. However, if you choose to buy a property at auction, completion is a lot faster and, in many cases, the whole process can be completed within a month.
You are not at risk of losing the property
When you choose to buy a property at auction, you are not at risk of gazumping so long as you place the winning bid, the house will be yours from the moment you put down your 10% deposit. At auction, you can also see exactly who you are bidding against, giving you optimum visibility on price.
More choice than ever before
Years ago, it tended to be mainly repossessions that could be found at auction, however there are now more houses than ever before being sold at auction. This means you now have more chance of finding your perfect property and a lot more choice.
Quick and easy
It is a common misconception that buying a property at auction is a complex process. It is actually one of the quickest and easiest ways to purchase a commercial or residential property. All you need to do is turn up on the day with some ID, your 10% deposit, and solicitor correspondence.
Of course, prior to attending the auction, you should make sure that you have viewed the property and employed your solicitor to check over everything.
Above all, buying a property at auction can be incredibly exciting, and you can even do it from the comfort of your own sofa!