How to Find Home Auctions
Properties are auctioned throughout the UK, but not everyone knows how to go about locating these auctions if you don’t know anyone who has brought a property at auction it can be hard to know who to ask about it. Help is at hand however. I have brought several properties from home auctions around the UK and attended others as a bidder who didn’t show the highest bid on the night.
First it is worth being aware that there are different kinds of property auctions. Occasionally a single home will be offered for auction at a nearby location – often a pub. Don’t worry; this doesn’t mean there is anything dodgy or underhand going on, but either that there are no convenient big auctions coming up in the vicinity or, more likely, that it is deemed to be a property that will excite local interest from people wanting to purchase it as a home for themselves rather than as an investment for renting out. Often it will be a slightly unusual property for the area – for example a thatched property in Lancashire a county not renowned for thatch, making it hard to price because there is nothing for buyers to compare it with. An auction can benefit the seller because it might fetch a price higher than an estate agent would have pitched it at due to the bidders knowing that it is a one off property and wanting it for themselves rather than being on the lookout for a bargain.
Most properties, such as the one pictured above, are auctioned in a multi property auction ranging from 10 lots to a couple of hundred lots. Some of the lots may be for ground rental, garages, commercial properties, such as shops, or land, but the majority will be straight forward houses for which the seller wants a quick sale and the buyer may be looking for a bargain home or property to rent out. You can find unique properties offered at these auctions too.
How to Locate ‘One-off Property’ Home Auctions
- Visit all your local estate agents - these auctions are usually marketed by them and they team up with an established auctioneer for the auction itself.
2. Read your local paper especially the property ads and classified ads. An upcoming auction of an unusual property may well attract a write up in a local paper where big news is hard to come by and at the very least will almost certainly be advertised there.
3. Read the property and classified ads in rural and farming magazines or papers such as ‘Farmer’s Weekly’ and ‘Horse and Hound’ – these one offs are often country homes and marketed appropriately.
How to Locate ‘Multi Property’ Home auctions
- Use 1 and 2 as before - your local estate agents may well be linked to an auction house - it’s very easy to ask them or may have an auction department themselves e.g. ‘Edward Mellor’ which has a chain of estate agents around Manchester, but also has a big auction property auction department. Properties which are being offered at auctions out of the county will usually be advertised in the local paper. It may sound a bit mad auctioning a property which is in Lancashire at an auction in London for example, but it happens regularly. ‘Allsop’ is a good example of an auction house which is based in London and indeed sells many auction properties, but usually has a fair number of properties from the North and Midlands in their sale.
- Cycle walk or drive around your area looking for auction signs attached to properties. Within a mile of my house there are auction signs for at least 5 different home auction companies. Just remember to take pen and paper or mobile phone to note down the details. There will usually be a website you can visit or at minimum a phone number.
- Use an online search engine with the phrase ‘Property auction Nottingham’ – or whichever county you are looking in. This should bring a wealth of options – after all, home auctions are a big business and auctioneers do want to sell properties so they all, as far as I know, have a web presence and are keen to be found by you.
It really is as easy as that!
Some Home Auction Companies to Get you Started
- Edward Mellor | Auction
Edward Mellor is a Manchester based Estate Agent and auctioneer covering Stockport and Tameside
- Allsop - about auctions
Allsop is an independent property consultancy with a market-leading reputation for high quality service and integrity. To many people we are best-known as the UK’s largest and most successful property auction house but our reach is considerably wider
- Savills Auctions | Home | Property Auctions
Savills Auctions are specialist residential and commercial property auctioneers with an unrivalled depth of experience and auction market knowledge.
- Welcome to SVA Property Auctions Ltd
SVA Property Auctions Scotlands independent auction service Hammering home the advantage ensuring clients benefit from full auction service
- Maggs And Allen : Auctioneers
Bristol based home auction company