This week we’re featuring another interview we recorded at the Property Investor Show – this time, we’re talking auctions with Rob Marchant from Clive Emson auctioneers.
Rob tells us how best to prepare for an auction in advance, if it’s really still possible to find a bargain in a post-Homes Under The Hammer world, and whether investors should consider selling at auction too.
We also discuss the so-called “modern method of auction”: what exactly it is (clue: not actually an auction), and why buyers should be wary of it.
Speaking of auctions, this week’s resource is EI Group – a service that collates information from the majority of auction houses in the UK. You can search upcoming listings (just like you would on Rightmove), and also dive into auction history as far back as 1991 to make sure you’re not bidding on a hot potato.
It’s not cheap, but if auctions are a bit part of your property strategy it could be an invaluable tool to make sure you’re bidding on the right properties at the right price.
If the “bank of Mum and Dad” was a real lender, it’d be one of the 10 biggest in the UK – lending £5 billion to finance 25% of all mortgaged transactions.
That’s according to a report from Legal & General, which we spotted in a BBC article this week. The average parental contribution was £17,500…suggesting that the gap between the “haves” and the “have nots” is widening all the time.
In a related story, Barclays has brought back the 100% mortgage for first-time buyers with parental guarantors. Because that’s never gone wrong before…
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