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.
Resource of the week
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.
News this week
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…
This week’s mentions
It’s always a pleasure to catch up with our friend Pete Matthew from the Meaningful Money podcast, so we were delighted when he invited us onto his show to discuss the many changes that are happening around property at the moment. Listen to the episode here.
We also mentioned what a great time we had at our most recent Property Hub Summit. There may be one or two places still left for our next date in June – click here to check availability and find out more.
Join the conversation
Is buying at auction part of your strategy – and do you have any tips?
Or have you ever sold at auction?
We’d love to know, so join the discussion in The Property Hub!
If you enjoyed The Property Podcast, please leave a review on iTunes
Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air.
If you’d like to hear your name on the show, leave us a review on iTunes here.
Not sure how to leave a review? This video shows you how to review and subscribe on iTunes.