Originally Posted by bobbyy gee
Usualy there's problems with property
Like flooding.pryite.fire damage tentants you can't remove
Title problems most need 100k in work
Some one bought one that was owned by a drug gang a few months a go it was burnt down after auction one place a few years ago had 3 fires
A bit of a scaremonger post, in fairness.
I've been around property auctions for a few years, mostly paying attention the last 5 years, and I've not heard of any of those things happening (with the exception of difficult tenants, although they generally get the boot sooner or later and accept their fate).
That said, OP, do your homework. If it's a repossessed property, then that is likely why it's at auction, more-so than anything else. Banks want rid of them. Doesn't mean there aren't other potential issues.
You wouldn't buy a car without looking under the bonnet - get a solicitor to read the legal documents.
In relation to VAT, as far as I'm aware you only pay it if the house is "new", and you'd be the first owner (houses that weren't finished in the boom, etc).