How to buy a property through auction

 In this short video Ryan Power from Pattinsons gives us the breakdown on how to buy a property through auction.

In this video we cover more information on the following:

• What to do before bidding on an auction property? Obtain the legal pack and If you're purchasing with a mortgage, discuss any necessary mortgage valuations with your broker. To ensure all financial aspects are in order before proceeding.

• When can you bid on an auction property? After Registering your details via. Undergo Anti-Money Laundering (AML) and soft credit checks.

• What to do when you bid on a property? Utilise the auction website to place bids on properties of interest. Upon acceptance, a representative will guide you through the subsequent steps.

• What to do when you're interested in an auction property? we would ask the buyer to go through the agent or auction website, have a look at the property video tour property and floor plans to make sure you are seriously interested in viewing

• What do you do once your bid has been accepted? Prepare to pay upfront fees, typically a 5% deposit and a non-refundable reservation fee. You'll have 28 days to complete the transaction.

For more information on Pattinsons auctions

View the properties for auction

If you have any questions about the contents of this blog, get in touch with us.

Or if you would like to book a property valuation for your home, you can do that here.