Buying your property at auction you can get houses at knock down prices.
Buying property by auction can be a great way to grab yourself a bargain. Many building societies and banks sell foreclosure properties by auction and the MUST sell in order to the financial institution to get the property off their books.
How can they be so cheap?
Properties for sale at auction tend to fall into 2 categories:-
- Property being sold by the owner
- Repossessed property – foreclosure homes being sold by banks and building societies
There is no chain when you buy a property at auction so you can buy, take possession, renovate (if that is what you want to do) or just sell on straight away. You can therefore make a quick investment.
Wales still represents an opportunity to acquire some great bargains in stunning locations. The best place to find cheap deals is probably at an auction of distressed and repossessed homes.