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Process of buying residential property at our auction
Step-1 - Register for an auction
Register to our auction online by clicking on the button at the bottom of this section.
If the auction is not yet live, you will be redirected to fill out a register your interest form which then signs you up to our newsletter. Once the auction is released, you will receive a marketing email from us telling you that our UK residential property auction lots are now available to browse.
Step-2 - Start the bidding
Once you are fully registered and ready to bid, you’ll need to wait for the auction to officially start.
If the auction has not yet officially started but you have access to view the lots, you’ll be able to see the minimum opening bids, start and end times of specific lots, watch specific lots, and view further details of each lot, prior to it becoming available. Once the lot becomes available to bid, you’ll be able to bid on lots and view the current bid accordingly.
Step 3 - After you place a bid
It is important to remember to have done your own private due diligence on the lot before placing any bid.
Once your bid has been placed and you have the highest bid for the lot, our helpful team at Barney Estates & Auctioneers will privately contact you after the auction has finished in order to walk you through the next steps.
Why choose us for buying UK residential property
The Barney Estates & Auctioneers team are experts in residential and investment property in London and throughout the UK. With a varied portfolio of land, development opportunities and residential properties, our friendly and experienced team can help you to buy or sell property in today’s fast-paced and dynamic real estate market.
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Why buy UK residential property at auction
When it comes to buying residential property in the UK, auctions are a popular place for buyers to potentially find great deals at. Whether this is for a primary residence or investment property, the opportunities of buying at auction can be very rewarding.
Unlike the traditional buying process, which can be slow, houses bought at auction can generally be completed quicker. Moreover, due to the nature of the bidding process, you can potentially acquire a residential property for a significantly lower price than you would be using traditional methods.
With that all said, it is important to remember that buyers should do their own private due diligence checks on properties prior to placing an offer via auction.
Types of UK residential properties on auction
Residential properties in need of improvement
Ideal auction lots include residential properties in which updating and change are needed. This is since these properties are snapped up fast by buyers who wish to upscale and resell or even by those wishing to renovate a property and build on their own portfolios.
Residential tenanted properties
Residential properties that come with tenants tend to potentially do well at auction. The benefit being, with landlords bidding competitively, there is potentially no need to serve notice on tenants, and income from rent could potentially be continued after completion of the sale. This means that as a successful winning bidder, you may potentially be able to gain income from rent when the sale has been completed.
Furthermore, if existing tenants are carried across within the sale, you may be able to avoid the added stresses of marketing the residential property, making this a potential stress-free way to gain a buy to let property.
A popular residential property type, these properties more than often have their sale price guided by not only the building itself but by the rent achievable.
Whether the aim is to buy one property or build a property, it is without a doubt that these properties are in high demand. With that being said, purchasing these properties requires its own background research, with a focus on areas such as location and budget. Therefore, it is important that buyers do their own due diligence when bidding on any property.
These properties can work out to be a great deal for buyers. Due to lenders wanting to regain funds as quickly as possible, auction properties can potentially be bought cheaper.