I'm thinking (just thinking!) of buying a house at auction. Does anyone have any advice. I guess that I need to get an engineer out, sort out a mortgage and inspect the title documents (at the auctioneers?). I don't want to seem too keen.
I'm worried about a couple of things. Firstly, getting mortgage approval for the top of my budget, but then maybe if I were to change the amount requested after the auction it might open up the whole application again and I might be refused?
Secondly, the deposit payable on the day can this be paid by cheque?
Oh and another worry is that they might take bids 'off the wall'. I've seen this on a property programme in the UK. The auctioneer basically pretended someone else at the back of the room was bidding so that the purchaser kept increasing their bids. They'd say '45' and then he'd point behind their head and say '50' and so they'd say '55' and so on. Does this happen here?
I'm worried about a couple of things. Firstly, getting mortgage approval for the top of my budget, but then maybe if I were to change the amount requested after the auction it might open up the whole application again and I might be refused?
Secondly, the deposit payable on the day can this be paid by cheque?
Oh and another worry is that they might take bids 'off the wall'. I've seen this on a property programme in the UK. The auctioneer basically pretended someone else at the back of the room was bidding so that the purchaser kept increasing their bids. They'd say '45' and then he'd point behind their head and say '50' and so they'd say '55' and so on. Does this happen here?