Auction Property

From run down houses and flats that need modernising, to disused buildings which have potential for residential conversation, we will find you the most lucrative project to make you money.

If you’re looking for a bargain at auction then we can help you source the property or project that matches your requirements. We buy properties at auction on behalf of our clients who range from individuals buying a property for themselves through to investors and developers. Our expertise in understanding the auction process and the best opportunities at auction puts our clients in prime position to secure a property at the best possible price. We work with tradesmen from across the entire spectrum of the construction and building industry and only use the best and most competent personnel to carry out the schemes of works on an acquired property.

There are 5 main property auctioneers in London and they are: Savills, Allsop, Andrew & Robertson, Barnard Marcus and Strettons. These auctioneers hold auctions every 5-7 weeks and between them they have up to or above 530 properties for sale which tells you that there is an abundance of opportunity with buying at auction so long as the property is bought at the right price which is what we can do for you.

The process:

  1. Once we’ve understood your requirements at the initial consultation meeting along with your budget, then we will proceed.
  2. The process of shortlisting properties from the auctioneer’s catalogue begins.
  3. Once properties have been selected we then fully research each property diligently. We will know what has recently sold, what is on the market and is about to come onto the market in the area of the shortlisted property.
  4. When the viewing schedule is available we will visit each property to understand what scheme of works are needed to be carried out if at all any.
  5. We report back to you with our findings which will include; the maximum bid price in our professional opinion that we won’t exceed to insure that you get a good deal, projected cost of works, potential resale value of the property if you decide to sell after works have been completed and details of the area that the property is in.
  6. Once you are happy with what you’ve seen and heard you will need to make available 10% the properties final bid value.
  7. We will attend the auction and bid on your behalf and if you are unable to attend we can always have you on the phone whilst we are bidding.
  8. If we are successful on the day we pay 10% of the final bid price as well as the auctioneer’s fee which ranges from £500 – £750.
  9. Completion usually takes place 20 working days after the date of exchange under the supervision of your solicitor. We will work hand in hand with the solicitor to make sure everything runs smoothly.
  10. Property has been paid for and keys picked up from auctioneers office.
  11. Programme of works and scheduling is discussed with builders. Then work begins.
  12. We give you regular progress reports on how the refurbishment or build is coming along.
  13. Inspection visits for you to see how the work on your property is coming along will be arranged. If you are out of the country or unable to attend we will take videos and photos and upload them onto our site and you can then log into your private client account and see how the work is coming along anywhere in the world you may be. We can arrange for this to be done on a weekly basis.
  14. Works are completed to your satisfaction.

If you decide you want to sell the property we can manage the whole process for you, making sure that you sell the property for the best profitable price. We will invite estate agents to give a market appraisal and once they have done that we will carry out our own independent valuation to be sure that the best price is achievable for you. A buyer is found, the property is sold, you make a good return on investment and we move onto the next project.

Please see the pictures and video below of a flat in West London that we recently bought at auction on behalf of a client. We were instructed by our client to buy, renovate and sell the flat. They made a huge return on investment thanks to us, once we got the flat sold. We can do the same for you on any size project and budget. We are the only buying agent in the UK that can show you such a case study which our competitors can’t because they don’t have the same capability as us.

Recent Case Study

Acton, London W3

Description

A 1 bedroom self-contained second floor flat situated within a semi-detached building beneath a pitched roof.

Accommodation

Four rooms, Kitchen (shell condition), Bathroom/WC with wash basin (unmodernised), Living Room (shell condition) Bedroom (shell condition).

Price bought at Auction

£260,000

Renovation Budget

£40,000

Timescale of works

7-8 weeks

Sold in 2015 for £350,000

Profit : £50,000