How To Buy UK Property from AUCTION | Inside A LIVE Auction Purchase

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Want to know how to buy uk property from auction?
Watch as I bid on an online auction property while filming this video to learn more about how property auctions work, as well as the pros and cons of buying and selling at auction.
Here's a step by step process on how to successfully bid a property from an auction.
I will share inside a property auction live you can see the process I went through to secure this property.
Get some property auction tips and information that will help you should you buy at auction in the future.
I deep dive into my property auction strategy and what I did before and after the auction.
Comment below any questions or thoughts.
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Опубликовано:

20 ноя 2023

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Комментарии : 74

@propertyaccelerator 8 месяцев назад

🔥 Get Access to the Property Accelerator Course HERE: property-accelerator.co.uk/join/

@salvarosarossonera 7 месяцев назад

James the link is not working.

@user-lm6xh2px6n 7 месяцев назад

Best property video I’ve watched. Been in the business 20 years plus attended & bought at auctions for clients & myself. Now have folio of half a dozen properties. Watched loads of ‘how to’ vids & lots are BS. This guy knows his stuff, communicates well & apparently backs up his words with his money. Listen to all he has to say! 👍

@propertyaccelerator 7 месяцев назад

Thanks so much.

@prolificlife1710 8 месяцев назад

Thanks for taking your time to do this 💯

@propertyaccelerator 8 месяцев назад

No problem 👍

@user-pp8ly2wn6t 7 месяцев назад

I extremely like the video, man. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.

@propertyaccelerator 7 месяцев назад

Glad you enjoyed it!

@user-yb7qj1hf9h 8 месяцев назад

great fun thanks for sharing and the tips, i had butterflies too!

@propertyaccelerator 8 месяцев назад

Thanks for watching!

@dereksayer500 8 месяцев назад

Really interesting & I enjoyed watching Derek from Reading

@propertyaccelerator 8 месяцев назад

Thanks Derek.

@delaporteful 8 месяцев назад

Hi, we watch you here in Australia,as we are planning to move to UK in the near future. Thank you for some great advise

@propertyaccelerator 8 месяцев назад

Awesome bring some nice weather with you when you move here! 🙂

@user-qw5jz8bu5v 8 месяцев назад

Very helpful. Thank you

@propertyaccelerator 8 месяцев назад

Glad it was helpful!

@user-qw5jz8bu5v 8 месяцев назад

@@propertyacceleratorI watched all your videos and forwarded them to my friends. I’m learning a lot from the videos. Thank you for spending time to create these. Much appreciated 👍

@susanswift9323 8 месяцев назад

Congratulations 😊

@propertyaccelerator 8 месяцев назад

Thank you!! 😊

@davidespas9605 8 месяцев назад

Cool

@propertyaccelerator 8 месяцев назад

👍

@jonsnow6741 8 месяцев назад

Get your ducks in a row and do not get sucked in when the excitement kicks in . I started with a pound as a kid and yes it did escalate to houses and land .

@propertyaccelerator 8 месяцев назад

Nice work Jon.

@praladrai9615 8 месяцев назад

You scared me when you said the EPC needs to be C by 2025...😅 just realised the video was recorded 2022. But good one! Hope the house you bought worked out well 😊

@propertyaccelerator 8 месяцев назад

Yeah we dodged that one.

@nabazhamad5988 8 месяцев назад

❤❤❤❤

@propertyaccelerator 8 месяцев назад

❤️❤️❤️❤️❤️

@Glennr19 8 месяцев назад

👏👏

@propertyaccelerator 8 месяцев назад

👍

@user-qj1lh6sh8i 8 месяцев назад

What was the first website you used? Any others you recommend?

@propertyaccelerator 8 месяцев назад

Sadly they recently went bust and nobody made a new one yet. When I find one will make a video on it as it was useful. In the meantime I would always recommend speaking to a solicitor.

@salvarosarossonera 7 месяцев назад

I have a question for you, I saw this in one of your videos but I couldn't find which one. For example, if you are based in the South of England and would like to buy a property in Doncaster or somewhere far from where I live, do you have an agency looking after your property with a "full managed package" ? I had tried this before and I had a negative experience with an agency, they didn't do too much and their fees were around 1 monthly rent, if not even more. If you can point me out to that video or provide me an answer that would be really appreciated. Thank you

@propertyaccelerator 7 месяцев назад

Hey yes I use a local agent to manage it for me. In Doncaster I use Moss Properties.

@salvarosarossonera 7 месяцев назад

@@propertyaccelerator Thank you for the answer James, if you remember the video I'm referring to please let me know.

@shyturk10 8 месяцев назад

70 👍

@propertyaccelerator 8 месяцев назад

🙌

@happychappy7115 7 месяцев назад

There's a myriad of pitfalls buying auction properties. I step away if seller is not offering Guaranteed Freehold, on the contract.

@propertyaccelerator 7 месяцев назад

Correct you have to know what you are doing, and that is the opportunity. If you know what to look for and get a good solicitor you can get very big discounts.

@SA-kg4mg 8 месяцев назад

Aucspace is closed down? So how are you using their services?

@propertyaccelerator 8 месяцев назад

This video was a replay as Ive been ill all weekend.

@thethinkingman2005 7 месяцев назад

Hi, what was the website/company called that looks through the legal pack and changes £100

@propertyaccelerator 7 месяцев назад

Sadly they closed down and Ive not found another since. Shame as it was a good service.

@thethinkingman2005 7 месяцев назад

So do you get a solicitor to look through the legal pack?

@baileyssoroya3200 8 месяцев назад

Good. Is auction only for cash buyers ? Thanks

@propertyaccelerator 8 месяцев назад

You can buy using something called a bridging loan as well.

@mdasifmuslimarakter8143 7 месяцев назад

I bid a property in modern method of auction.The bidding is going to end in next 7 days.How to withdraw my bid without paying any penalties before completion the auction

@propertyaccelerator 7 месяцев назад

I dont know how you can do that you need to speak to auction house.

@Cebuanaconqueror 8 месяцев назад

Hi James thanks for the video. Can you pls send the name of that company that you paid £120 to view the legal pack? I’d like to do options and use service like this. Many thanks in advance

@propertyaccelerator 8 месяцев назад

Sadly they recently went bust, Ive rent to find a replacement yet. Going forward you can ask your solicitor to check it over.

@Cebuanaconqueror 8 месяцев назад

oh they went bust. Thanks for answering

@evaa-w5399 4 дня назад

Please, if you are a cash buyer, can you ask them if you can pay up front, once you've viewed and are happy with the property, to prevent the property going on auction please?

@propertyaccelerator День назад

You can try to agree that yes.

@evaa-w5399 День назад

@@propertyaccelerator thank you, I'll do so. It's my mum who'll help me buy the property

@user-qw5jz8bu5v 8 месяцев назад

Hi, I’m buying a property via iamsold auction. I have paid a deposit to reserve the property. We have 56 days to complete the sale. This is from the day my solicitor receives the contract from sellers solicitor. Can the seller change her mid half way through and cancel the sale? I don’t want to loose the house since the price is good. Many Thanks

@propertyaccelerator 8 месяцев назад

Ive never used Iamsold, but I think its the same as other auctions they can't pull out.

@opentrail 8 месяцев назад

If you have only paid the reservation fee for the seller to exclusively deal with you then that’s all it is. They can pull out or iamsold can decide your not working to there time scales and pull out. If you have also exchanged contracts and paid 10% then the seller is in contract to complete. For 28 day completion you usually pay reservation and exchange deposit, for 56 day first the reservation and within 28 days deposit.

@tamasveingartner4976 8 месяцев назад

I am looking at a property that is listed as a modern method auction property. I viewed it last week. It is a probate property, papers are all sorted out now, but the house surely needs a lot of refurbishment as it looks untouched since 1983 when it was first sold. It is in Hertfordshire in a Garden City and actually the guide price for this 3 bedroom decent size semi detached with a nice garden is 325k. The auction company charges 4.5% reservation fee, which is quite significant in this case. Especially if we assume that the seller set the reserve price to +10%. That takes it to a 373.6k, crazy. It is full of artex walls and ceiling, woodboarded kitchen, old style all over. Nice big garden and a brick build garage next to the house. Is it normal to have an auction spiking up so high, even with a single bid? 50k more compared to the guide price, which is already quite high. I was wondering how much a full walls and ceiling redecoration and new kitchen would cost these days? I hope you have some guide prices, relying on basic furniture and stuff from B&Q? I really like the layout of the property and the garden and the garage, but I fear that this 325k property would easily shoot above 400k after all the fees and renovation costs. I would buy it would roughly 15% deposit plus mortgage. What's your advice?

@propertyaccelerator 8 месяцев назад

It could get to £400k pretty quickly. The most important thing is what is the houses on the street worth. You can check that on Zoopla, if you feel you can make 25% after costs it would be worth doing.

@tamasveingartner4976 8 месяцев назад

@@propertyaccelerator I am not buying it for investment but for living in it with my wife and the baby due in February. Do you have some guide number how you estimate renovation costs?

@barmy_irooni 8 месяцев назад

Did you end up buying the property?

@tamasveingartner4976 8 месяцев назад

@@barmy_irooni no the auction has not yet started

@opentrail 8 месяцев назад

Take the price with a piece of salt. How much would you pay for the property based on what you have seen together with the reservation costs and deduct auction fees and legals from that. Good luck if you get it cheaper at auction but lately not. Check what similar ones have sold for in the last year within 1/4 mile. Are you doing the work yourself or have you found a builder/quantity surveyor? How long has the property been empty for? Over2 years then some councils will charge double council tax until you’re living in it! Can you get a mortgage or pay cash with 56 days? Can your solicitor handle it in time? How much for renovation depends on your spec. I’d say at a minimum 15k without rewire or new boiler. I’m looking at one now where the refurb will be over 120k for a listed building. Artex can be plastered over rather than removed reducing potential asbestos contamination… the only benefit of an auction is usually the paperwork has been done upfront and you can read it but still needs checking with a solicitor for £150 approx. and completion is within a fixed timescale. If you need a mortgage they will want a survey (cost) to make sure it’s a standard construction they lend on and there are no problems and the price is reasonable.

@scalpmates 8 месяцев назад

I know this is a bit of a cheeky question, but what is your average RPM, CPM on youtube? Just curious :)

@propertyaccelerator 8 месяцев назад

This month its £6.65 RPM, I thought it would be more as its was £7.65 in Sept.

@scalpmates 8 месяцев назад

Appreciate your reply. It's quite decent. To be fair I thought that the property niche would have a higher value, but eh... Still must be generating quite a few rental incomes. :) Keep up the good work!@@propertyaccelerator