Home > Types of Auction > How to Research a Property Properly

How to Research a Property Properly

By: Christine Whitfield BA (hons) - Updated: 24 Sep 2012 | comments*Discuss
Auction Home House Property Properties

Buying at auction can be risky but with enough research you can make sure you get it right and make no mistakes. There are plenty of companies that run residential property auctions and so there is a good chance you will be able to find your dream home. Before entering into an auction there are some things you should look into to ensure you get the best deal and the best property for you. Nearly all of the property auction companies will send you brochures once you have made an initial enquiry with them. After looking through these, you may be able to narrow your choice to one or two properties.


Once you have an idea, you should check out the location of the properties. Take a look around and see what the area has to offer. Is it a pretty location and is it quiet? If the area is aesthetically pleasing, you are likely to be happier living there but do expect house prices to be higher. Types of residents, including youths, will also determine the price and your enjoyment of living in the area. Ask local estate agents for information on prices of similar homes in the area, which will help you to set your maximum price when you go to auction.

What About Your Children?

If you have children, the school catchments areas will be of utmost importance to you. It is useful to research all the schools in the area and enquire about the catchment areas. Maybe you could ask some parents already living in the area about what they think of the schools and amenities for the children, such as leisure facilities and parks.

If there is plenty of green open space in your chosen location, there could be the possibility that new building work will take place, especially if the location is sought after. This will be quite an important factor when choosing your home at auction because road works and building works can cause disruptions in your area and it could ruin your views and perhaps even the value of your property. The local council may hold some information on possible planning permission granted in the area so it could be worth investigating that.

Getting a Valuation

In order to understand the value of your property, be sure to hire a surveyor to carry out a valuation and make you aware of any structural problems or any other issues with the property. You will also need a solicitor to organise all the finances necessary. If you make a successful bid, it is usually expected that a deposit is paid on the day of the auction. Insurance is also usually paid for on the same day. Another good tip is to attend an auction first without taking part to familiarise yourself with what happens and to help you eliminate any risk of making a mistake. Bidding for a home at auction can be fun and thrilling and providing you have carried out thorough research, he can lead to your perfect property.

You might also like...
Share Your Story, Join the Discussion or Seek Advice..
Thanks for the tips on how to research a property properly so that you can put it up for auction. Do you think that the same method would work for a condo auction?
Roy - 23-Aug-11 @ 9:27 PM
Share Your Story, Join the Discussion or Seek Advice...
(never shown)
(never shown)
(never shown)
(never shown)
Enter word:
Latest Comments
  • Mike
    Re: Consumer Law and Auction Goods
    I have previously bought an ex-Motability car from a car auction. Another auction house now sells such vehicles (which are…
    9 September 2019
  • Daniel Rourke
    Re: Selling Collectibles
    Hi.. I have a rare book. Ita a first edition jk Rowling Harry Potter and the philosophers stone from 1997. Would it sell? And how much…
    29 August 2019
  • Who wrote this actua
    Re: Auction House Commissions
    Who wrote this actual trolley of garbage?
    19 July 2019
  • Diane
    Re: Problem With an Item Bought at Auction
    Won item from curr and dewars in Dundee, contacted them to confirm opening hours to arrange collection. Hired a van…
    13 June 2019
  • Francesca Gemeli
    Re: Selling Collectibles
    I have a full set of The Lord ofthe rings chess set 3. I have no board but i have the whole collection in mint condition. Im up for genuine…
    12 June 2019
  • Francesca Gemeli
    Re: Selling Collectibles
    I have a full set of The Lord ofthe rings chess set 3. I have no board but i have the whole collection in mint condition. Im up for genuine…
    12 June 2019
  • Topgun296945
    Re: Selling Collectibles
    I have 6 storage box’s of buffy the vampire stuff to sell books, statues, collectors cards. Badges, mouse pads , pencil case were can I sell?
    3 June 2019
  • charles azzopardi
    Re: The Legal Implications of Buying at Auction
    i bought an 18cent.maltese chest serpentine commode for stg.£4,450.-- in an auction on line bid on the…
    18 April 2019
  • jimbo
    Re: Consumer Law and Auction Goods
    I recently purchased a 'Rolex' at auction. Unfortunately a few days later I was admitted to hospital. I contacted the auction…
    28 March 2019
  • RhodieBoy
    Re: Consumer Law and Auction Goods
    06 March 2019 Hi, We sold a few items including used TV at a local auction this evening, and upon going to collect the cash…
    6 March 2019