London Property Auction Watch March 2008

Where is the time going? It’s March already and once again I am late with this months London Property Auction post. I’ve been searching around the web for more information on auctions this month and there are plenty to choose from with lots and lots of Lots (laughing at my own bad pun).

I’ve noticed even more regional UK property auctions as well, however as I don’t know much about other areas of the UK I will list the London ones here and if you are interested in others around the country, read UK Property Auctions.

A hot tip for those on the hunt for property bargains.

If you’re on the look out for a property bargain, that you wish to buy at auction, when looking through the auction catalogue, try to check out where the vendor’s (seller) solicitor is located. If the seller and the solicitor are miles and miles away from each other (i.e. property in London, solicitor in Glasgow) this could indicate that the property is being sold as part of probate settlement.

Probate is what happens when someone dies and doesn’t leave a will. Often this results in the deceased assets being sold to liquidate and pay taxes or for distribution amongst their relatives or dependents. Probate is a lengthy process and in order to move things along, the quick sale of assets is desirable, thus much property of this type is disposed of at auctions.

Auctions London March

Barnard Marcus	13 Mar 2008 10:30	Cafe Royal, 68 Regent Street, London, W1B 5EL<!–
Sullivan Mitchell	13 Mar 2008 15:00	The New Connaught Rooms, Great Queen Street, London WC2
Countrywide Property Auctions	14 Mar 2008 12:00	The New Connaught Rooms, Great Queen Street, London WC2
Allsops	26 Mar 2008	Cafe Royal, 68 Regent Street, London W1B 5EL
Erinaceous Residential	27 Mar 2008 12:00	Kensington Town Hall, Hornton Street, London, W8 7NX
Strettons in Assoc. with Edwin Evans	31 Mar 2008 11:00	New Connaught Rooms, Great Queen Street, London, WC2B 5DA

Your Property Auction Questions

I had a couple of questions from readers last month about buying property at auction. If you’re interested in buying from an auction, here are a few articles from around the web that I think are useful.

• How To Buy At Auction (Fool.co.uk) for a great explanation. (also read the comments)
• Buying At Auction (BBC.co.uk)
• Buying A Property At Auction (Shelter) (Thanks Maureen for the updated Shelter link)

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