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johnturner

property sold prior to auction

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Good Morning All,

Does anyone have any tips on buying a property advertised in an auctioneers catalogue prior to it going to auction. You see 'sold prior' on a lot of property auction sites and always wondered how this was achieved; I can only assume that you can put forward an offer on the property through the auction house to the seller and it is accepted. 

 

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Hi John,

5 hours ago, julia urquhart said:

 

 

7 hours ago, johnturner said:

I can only assume that you can put forward an offer on the property through the auction house to the seller and it is accepted. 

Yes, that's exactly what you do.

The auction house will probably insist on an offer emailed to them, and if it's accepted you will be expected to exchange contracts immediately.

Conrad


Conrad Paton

+44 7957 959851

conradpaton@yahoo.co.uk

https://www.linkedin.com/in/conrad-paton-424446110

 

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Yes - you have to make an offer via the auction house and and all normal auction conditions apply in terms as 'sold as seen', 4 weeks,  10% deposit etc. My expereince is that anything that looks like a low-offer will be immediaetly rejected - so its not really a good way to get BMV but can be good if you are after something very specific. Many sellers (eg councils) will not consider pre-auction offers at all

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