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Article: LAST AUCTION HEROES; Three buyers risk being going going goners..but hammer out a bargain.(Features)
- Article from:
- The Mirror (London, England)
- Article date:
- May 30, 1998
- Author:
CopyrightCOPYRIGHT 1998 MGN LTD. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BUYING property at auction is a good way of picking up a bargain. It is also a good way of getting caught - if you don't do your homework.
Angela and Kevin Watson, from Baildon, West Yorkshire, were desperate to buy a three-bedroom semi-detached house in Bingley which was auctioned in April.
After bidding they found they didn't have a mortgage to buy it.
"We should have been more thorough," says Angela. "We made a few inquiries, did the searches and got a mortgage approved in principle.
"But we didn't realise we needed a specific ...