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House Price Crash Forum

What's the deal with so many homes being up for auction?


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I haven't owned a place or lived in the UK since 2006, instead I've been working and living overseas. My parents are getting rather long in the tooth, plus we lost my sister to cancer last year, so I'm thinking of buying a small pad near to them - to stay in if they need my support. 

I saw a suitable place online and sent off a request for more info to the EA. She was.. not really helpful when telling me about homes up for auction. She said I should look around it before bidding (well, duh), and mentioned a fee if I 'won' it.

What I found hard to understand, is everyone who wants to bid should get a survey done first. Surely it's make an offer -> it's not accepted -> higher offer -> accepted -> survey -> exchange contracts? Way back in the early 2000s, the only places up for auction were dodgy or complicated. As I said I haven't owned a place for 16 years, so what am I missing / forgetting?

Thanks!

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