Auction Properties

[-SharonA-]

Has anyone ever bought a property that was marked for auction before it came up for bidding?

My son has seen a property he likes, it has been marked for auction but he is wondering if he can secure the property by going in with a substantial offer before the auction. Would this work?

[Sycamore3House]

A friend on mine did this approx 6 months ago. A house became available for sale as it was the home of an old couple in their 90's who sadly passed away. They had no children etc. The property was actually owned by one of those companies that give you the equity but you continue to live in the house. He put in an offer before the auction (along with several others) who all offered above the guide price of £112,000. He offered £115,000. Due to the interest in the property the agent called him to update him and to secure the sale he offered £118,000 which was accepted. He was also a cash buyer which swayed it for him. He had the keys within 7 weeks and has now refurbished it.

[-SharonA-]

Thanks for your reply Sycamore. Son made inquiries and was offered to make an offer which was rejected as some were offering £20k over the price.
He will keep looking.