Information on repossessed properties at auction
Contrary to popular belief the vast majority of repossessions never make the auction room.
In the first instance the Bank or asset manager will try and sell them through normal estate agency channels and only look towards auctions if they still are unsold after trying for several months.
If there are severe legal or structural problems with the properties though they may well go straight to auction.
For many years prior to 2007 the average % of repossessions coming to auction was around the 10% mark. It peaked in Q3 2008 at the height of the financial crisis but quickly fell away after that.
Currently auctions are seeing about 6-7% of all repossessions coming to the room.
EIG Newsletter March 2018 - Essential Auction News
Welcome to the March newsletter that looks back at auction activity in February and preceding periods. I am pleased to report on a strong set of auction results last month, with overall lots offered up almost 6% to 4,067 lots and a 3% increase in sales to 3,087 lots.
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There are a number of crucial differences between freehold and leasehold terminology so it is important to be aware of how the distinction will affect you before considering buying a property of either type.
Premier Property Club Birmingham - Auction Blockbuster Panel Event
Industry expert David Sandeman invited to join the Auction panel at Birmingham Premier Property Club. This event is an opportunity to put your questions forward and get the answers and information you need to take your investments forward.