How risky is buying at auction?
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linn
Apprentice
Joined: 12 Jan 2008
Posts: 4
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 Posted: 05/05/08 - 06:08 Post subject: |
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| Hi, fellows. I am planning on buying a little firm. I was thinking of doing it on an auction. I haven’t done this before, so I have some uncertainties. For instance, what kind of risks can I expect there? I would appreciate all your recommendations. Thanks in advance. Your help is more than welcomed. |
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lonnie
Apprentice
Joined: 29 Apr 2007
Posts: 4
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| Posted: 06/03/08 - 22:18 Post subject: |
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| Hello, there. I will try to help, although I haven’t bought a firm on an auction. There are always some risks. You can always pay more than the property is worth. You can also need to pay some repairs that you didn’t plan with your budget. You can always be out-bid. In that way, not only you will lose the property, but also fees that you have already paid. I am not certain about other risks. If I remember any other, I will let you know. I hope you will buy your little firm. Good luck! |
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