Buying a property at auction. Is now the time?
By Mia Joseph
Published 3rd March 2023
Recent data has shown an increase in the number of landlords selling their buy-to-let properties at auction.
High interest rates, the increase in the cost of living and the changes to tax and legislation is making it difficult for some landlords. Profit margins are becoming tighter and properties are no longer providing the required return. Some landlords are seeking the opportunity to get out of the market quickly and selling at auction is one way to do that.
Recent research also indicates that landlords are willing to sell their investment property for up to 25-30% less than they might have sold for before. There does appear to be opportunity for those looking to get onto the property ladder.
But buying at an auction can be a fast-paced and unfamiliar environment. Read our auction guides to find out all you need to know.
Remember - if you are considering buying a property at auction you will need a conveyancer for the legal aspect of the purchase. Complete our conveyancing quotation form here or contact our conveyancing support team for information.
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