Most Asians love to accumulate wealth over the years not only for themselves but their future generations as well. And the best way to invest well, as many feel, is by buying a property. In fact at some weddings I have see parents gifting the bride and groom a new house!

Keeping property prices in mind, it can be incredibly hard for a person to get their foot on the property ladder and I know how tough it can be to get a good mortgage. Even though the UK government has launched a new scheme to help first time buyers, it is clear that money can be available however, there is a sever lack in good or properties close by. Hence more people are looking for purchasing properties in various locations across the UK to at least have an asset in their name.

I remember house-hunting a few years ago and I literally viewed over 100 properties in the space of 3 weeks (the fact that I had to go from place to place on public transport was NOT fun at all L). We were in a rush to purchase as my course was due to start and I needed somewhere to live and I remember looking at a variety of houses, some were lovely, some were horrendous and in others the floor actually moved! Auctions always interested me, however, time was key in that situation and who knew if I would find something I liked in the time frame I had?

Now a days I see a lot of people frustrated with the lack of properties available through estate agents and newspapers. Hence, auction houses are becoming incredibly popular places for people to look for and find their first/dream or even investment property. Having watched countless episodes of shows such as Homes Under the Hammer, Grand Designs and even Location, Location, Location I know that it isn’t as simple as it appears to be. However, sometimes you can find just the right bargain you’ve been looking for!

On today’s show I was joined with Shad Azad the Director of MS Auctions. MS Auctions specialises in both residential and commercial property across the UK and offers a diverse portfolio of services to prospective purchasers, investors and vendors alike. The team is headed by an experienced property auctioneer, who has in excess of 25 years’ experience and advised on assets well over the value of £1 billion.

Whilst on the show they were incredibly insightful into the way people could purchase a property. They made it clear that to take part in an auction:

1) There would be no cost to take part in an Auction

2) If your bid was successful-You had to have a 10% deposit readily available there and then to purchase a property.

3) If you are ill/disabled or unable to attend a bidding for some other reason, you can always take part in a phone bid or proxy bid

4) If you are going to buy a property MAKE SURE that you arrange a viewing before you make a bid

These are just some of the top tips that were given in the show. It’s clear that we love to accumulate assets for ourselves and our family, however one piece of advice I would offer is be sure to do your homework before investing in anything and when you get to an auction TRY not to get too excited, as you don’t want to end up bidding over the odds for something that is really not worth it.