Open from 9am - 5pm, Mon to Fri |

5 min read.

When it comes to buying a house at auction it is a case of buyer beware.

But with interest rates remaining largely unchanged, more and more people are turning to property as a long term investment and source of a future pension, rather than putting their money into a bank or building society.

This, coupled with a rise in the rental market due to the difficulty for young buyers to secure a mortgage, is making snapping up a ‘bargain’ at auction an altogether more attractive prospect.

But is it possible to really grab a bargain? Ian Naylor, a partner here at Bowcock & Pursaill offers his advice to buyers braving the hammer.

Ian says: “The same rules apply before you buy at auction as with a more traditional house purchase and doing your research is key, because once the hammer falls at auction that is a legally binding contract.

“It really does pay dividends to do your research and get a pair of legal eyes to go through the paperwork. Most firms will negotiate a staged price for scrutinising the pack and then for completion of the purchase afterwards. They can give you a report which means you know what you’re letting yourself in for when you go into the auction room.”

Before you buy an auction property

What you’ll need at the auction

What to watch out for

For more information about buying an auction property and advice, contact our property team on 01538 399199.


Our Insights

Enquiry Form

Please fill in the form below and we will call you to discuss your needs.