You can snap up a property for 10 to 15 percent cheaper than the market value at an auction - making them enticing for developers, house flippers and even first-time buyers
If you are thinking of buying a property with the intention to renovate it and add value, then auctions are a great place to look. Thousands of residential homes go under the hammer across the region every year, with the majority of them being doer-uppers.
"The reason why properties are priced cheaper is because they’re aimed at a smaller proportion of the market. Not everyone can manage the tight four-week timescale, so those in the fortunate position of being able to buy at auction, often cash buyers, want to feel like they’re getting a good deal," explained James.
"We’re seeing increasing numbers of people from outside the city now buying via the hammer here since our auctions moved online. This means it can be pretty competitive, particularly when it comes to terraced properties in the areas surrounding the city centre."There are two types of auctions – a traditional auction, where the contract becomes legally binding when the hammer hits, and a conditional auction, where you pay a 4.
Six bargains set to go to auction in Greater Manchester next month Each of these properties will go under the hammer at Auction House Manchester's live stream online auction starting at 12pm on May 14.This one bedroom apartment in Rochdale, which boasts stunning views over the countryside hills surrounding Whitworth, is going to auction with a guide price of £45,000.
This two-bed property in Oldham is 'full of potential' and in need of refurbishment. Going to auction with a guide price of £65,000, the end terrace house is made up of an entrance vestibule, lounge, kitchen, two bedrooms and one bathroom.
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