There’s a certain mystique around property auctions. On the one hand they appear to offer the potential to snap up a house or plot of land for less than its true value. On the other, there’s the nagging fear of buying something that later turns out to be a money pit.
There’s also a sense that investors and developers tend to dominate property auctions, and that private individuals are likely to be at a disadvantage compared with the seasoned professionals that might be bidding on the same lot.
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September 2018
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