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Article: Head for an auction to get cheap house ; The old line - home, sweet home - doesn't run quite so smoothly these days, since the downturn in the property market.
- Article from:
- Express & Echo (Exeter UK)
- Article date:
- October 16, 2008
CopyrightCopyright 2008 Express & Echo (Exeter UK). Provided by ProQuest LLC. (Hide copyright information)
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The old line - home, sweet home - doesn't run quite so smoothly
these days, since the downturn in the property market.
We're told that the sellers can't find buyers and the buyers
can't get mortgages. But while estate agents in the Exeter area say
that the market is a little quiet, it hasn't ground to a halt.
For the first-time buyer, the housing market presents an array of
daunting prospects. And the basic price is usually the biggest
stumbling block.
Ninety per cent of the cheapest properties are sold at auction.
However, the buying process is totally different from the norm.
Once your bid is accepted, you are legally committed to the
purchase. Effectively, you've exchanged contracts and ...