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The Masked Tulip

Reposessed Auctions

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Excuse my ignorance, but how do you find out about auctions for properties that have been reposessed by building societies/lenders?

I have noticed in recent weeks an increase in my local property rag of EAs advertising their own auctions and, I assume, that most of the properties at these auctions are stuff they cannot get rid or the owner is depserate to sell. Most of these auctions appear to take place in hotels.

So what happens - do the lenders advertise their own auctions or do they farm this work out to EAs? Or is there some secret network???? :ph34r:

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Most "distressed" sales come up for sale with the main auctioneers - you can see the " repos" in the catalogue.

See how you get on with this lot. I will be going along to the next allsop auction in London if anybody wants to come along.

For a fee, some of these sites will notify you of houses coming up for auction in your area. I don't bother with this service as I keep an eye on the main auctioneers in my area.








Edited by RRP

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Have noticed the same thing here in sunny SW Herts, estate agents turning into auctioneers, two this week in the local property pages.

Any other areas seen the same thing?.

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