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When you find a house at auction, you will immediately take into account the loss that the owner of the property must have gone through for the property ahead for public auction. Auctions have grown to be very common these days due to the financial crunch that came forth in the recent past leaving a lot of home owners to take this bitter decision. We can see auctions among the methods that are used for selling and buying properties.Mostly auctions are believed as loss for the property owner and a large gain for the people who take the house in auction to get the best bid. But the actual truth is there are equal possibilities for owner and the buyer to take pleasure from profit if they follow several points while owning a property auction. But the saddest point is that oftentimes neither the buyer nor owner gets profit but the agent who makes the best use of the situation gets the best revenue. This can be a real blunder if you allow third party to earn money without any actual work done over the whole process. You will need to be well informed in regards to a few points and tips to follow even before you plan to place your bid at a house auction.Before the Auction you will need to keep yourself informed concerning the actual rate of a similar property at exactly the same location. Do a proper property valuation check before you buy or sell your property. Don't let people to under estimate the property value if you are owner or the brokers to over value the property in case you are the customer.If you are going to buy a property, study about the property and find if it's useful for your and if it is your kind prior to going for a property auction to put your bid. When you want to buy a property you will have to find out about the repair works that should be done for the house after buying it. Do a rough calculation of the estimated amount that you'll have to spend on the house once you buy it in the auction. See if marshall auctions falls within your budget, this can avoid any financial scarcity. If you are planning to earn some money out of the rent that you might get from the building, do check with people about the area value and the possible quantity of rent that one could expect from the property once you repair it. Check when there is any major local development that might affect the property that you will be going to place the bid for. Through the auction, always make an effort to make note of the other auctioneers moves so as to place your bid effectively rather than turn emotional. Keep yourself calm and plan thing well before you place your bid.