Mostly, property auctions are for vendors whom require a quick purchase or desire to sell property with varied complications. Nowdays, property auctions are being flooded with property that just simply aren’t moving due to the present economical climate, so purchasing from a property auction need not be a daunting experience.

At a recent property auction I attended (I never bought the property I was after cause bidding suprisingly went crazy!), nearly all the property were made up of repossessed property, most ofwhich guide priced at 30% BMV (Below Market Value).  So, literally, think of a property auction as a ‘quick buy’ scheme, rather like a speedy estate agents, cause the portfolio of property these auction houses have are increasing each time they have a new sale.

Do not forget with property auctions, that you can also purchase property that were not sold or did not reach their reserve. These property usually offer great value for money. A guide price not reached at auction, might go for less after the auction as the owner (usually a bank) just wants to clear their stock.

Do I have to pay to receive auction catalogues or to know where to find auctions? No! And I repeat, No! Why you ask? Well, if you search for property auction, for instance in the uk, ie ‘property auction in UK’ you will obviously get search results. Now, if you have time on your hands, say two hours, you can filter through all the ‘pay us for sending you a property auction list’ and find all the actual property auction houses that will have either an online auction catalogue of their next up and coming auction or give you the opportunity to subscribe for a catalogue to be sent by the post.

If you would like some more information on property auctions then reply to this blog and I will forward you a list of UK property auction houses totally free, so you can also be searching for cheap BMV property and importantly, you will not be paying for this information!

Good luck buying property and do not forget that houses/flats/land etc are not only for sale in Estate Agents!