France tipped as good place to buy property at auction

France can offer some good opportunities to save money at property auctions, it has been stated.

Investor magazine French Property News noted that while there are not a large number of properties going for sale in this manner, there can often be bargains to be had when there are.

As well as this, buyers can save on agents' fees and it is a good way to pick up unusual houses, the magazine suggested.

Its advice to those considering this method is to first attend some auctions without purchasing in order to become familiar with the process, while buyers should be fluent in French or have someone with them who is.

The magazine also said that once the highest bid is lodged, there is a ten-day waiting period to see if anyone can come up with a new bid of at least ten per cent more, at which point the lot would go back to auction at the new higher price.

Earlier this week, director of French property firm Athena Mortgages John Busby said the market in the country is very stable, but with notable regional variations, Country Life reported.

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