10 Reasons to Buy Property at Auction
Buying property at auction is an easy way to get hold of the property of your dreams. Whether you are looking for residential, commercial or agricultural properties, Kearney Auctioneers display a variety of properties in order to satisfy all customers’ needs. Wondering why you should buy property at auction? Here are ten great reasons for doing so:
1. It’s much faster
Searching for a property can be a long and tedious process, whereas buying it at auction simplifies the whole process significantly. You just have to bid for the property you want and if you win, it is all yours approximately 28 days later.
2. You can find a good bargain
Obviously, buying property at auction is not for everyone. You need a good budget and a lot of wisdom. But if you do your research properly, you can end up with the property of your dreams at a great price. You just have to be clever about it.
Auctions offer numerous types of properties such as: commercial, agricultural, residential etc. Some of these properties are harder to find on the market, so going an auction can be a good solution.
4. The Possibility to Apply for a Mortgage
Contrary to what most people think, mortgages can be obtained on many auction properties, but should be applied for before the sale date. Therefore, if you are serious about buying property at auction, you need to make a good plan and stick to it.
5. It’s a great experience
Bidding for property can be very exciting for some people. Some say they love the adrenaline of competing for their desired property. When you also win, it is obviously quite rewarding.
6. You can even bid from home
If you do not fall under the category of “adrenaline lovers”, you can always bid from home or ask someone to do it for you. You can bid by phone or online, avoiding much of the fuss.
As soon as the property catalogue is published, legal packs for every property become available to view. You can download them and discuss them with an expert, so you know exactly what you’re dealing with in advance. Moreover, this speeds up the legal procedures when buying the property.
8. No negotiating
If you hate negotiating, auctions are great ways to buy properties. No more endless talking about prices, no more awkward phone calls rejecting your offer.
9. No estate agents
It is no secret that dealing with estate agents can be difficult. The high fees are often a disadvantage and the process of finding a property is often slow.
10. Less paperwork
The day you bid you will only need to bring the following documents:
-ID such as driving licence or passport and proof of address
-Details of your solicitor
-Acceptable means of paying the deposit, including cheque, debit card, banker’s draft
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