I am a FTB looking into auction purchase as a way of avoiding the inflated prices in West London. The two major costs pre auction are legal and survey. As most of you will be aware the problem with auctions is that someone can turn up on the day and outbid you. It's almost as if you are setting yourself up to be gazumped on the day of purchase! So, the question I have is how to minimise these pre auction costs so that I will be less p'd off if that happens ...

Do I really need to get a survey done on every time I bid ? ( As far as I'm aware most purchasers buying flats on the open market don't bother with a survey. I want a flat rather than a house) Can I do a DIY survey ? (I've heard you can buy damp checking hardware.)

When buying at auction the legal pack contains searches and title deeds. Can I just ask the Sellers solicitor any questions related to the property. If there are any problems such as defects in the lease for example could I trust the sellers solicitor to make me aware of these ?

Also, anyone actually bought a flat in West London through auction recently ? What were selling prices like ?

Hi,
I have the same queries as you. Surely serial auction goers and buyers can't afford to get a survey done on every property they show an interest in.

I wonder if these new Home Information Pack things apply to auctioned property?

A good place to see selling prices is this website: Property Auctions-Gateway to the UK property auction market. They have a results section for the most popular and recent auction.