Buying at auction: Are there deals to be had?

Buying at auction: Are there deals to be had?

Posted on 01Nov

Source: https://www.irishtimes.com/life-and-style/homes-and-property/buying-at-auction-are-there-deals-to-be-had-1.4705548?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Flife-and-style%2Fhomes-and-property%2Fhow-to-get-a-good-deal-at-a-property-auction-1.4705548

 

Characterised by sometimes unloved properties at knockdown prices, auctions can appear to be dominated by investors and cash buyers looking for an asset, not a home. A well-organised first-time buyer who can act fast and hold their nerve could get lucky, but there are challenges.

What’s the story

Properties listed for online auction sometimes have a back story. An online auction brings a quick sale and there is usually a good reason the vendor needs it. It could be that they, or their bank, need to cash out quickly. If there is an issue with rising damp, a sitting tenant or a niggle with the title, online auctions can attract more seasoned cash buyers with the experience and the resources to sort things out.


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