Article: LAST AUCTION HEROES; Three buyers risk being going going goners..but hammer out a bargain.(Features)

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 ...

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