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Leicester's premier cash home buyers, An Instant Sale has this week raised concerns regarding the growing problems that auctioning a house is causing sellers.

An Instant Sale proprietor, Andrew Smith notes, “The main problem is that the only houses that are selling in auctions are usually repossessions. These have been placed into auction houses by the banks at vastly discounted prices in the first place."

"In fact you only have to look at any of the major auction houses forthcoming catalogues to see that they are only focused on repossessions. There is no doubt in my mind that this spells success for the auction house and for rich investors who have the cash to snap up the bargains."

Sellers are drawn to auction houses because there in no commission to pay to an estate agent, no failure to complete, no gazumping and full payment with in a month, so auctions could be a fast option to buy and sell. However with house sales falling and repossession rising, An Instant Sale's proprietor is resolute that things can only get worse for sellers, particularly if they put their property up for auction.

It is now also harder for the average person looking to buy a home at a property auction to even get a mortgage agreement in principle.  Lenders are worried about their money and will thoroughly question plans to make sure the borrower fully understands the costs involved and the auction process. Another reason that buyers are often put off is that they have to have a survey before they bid, even if they don't win.

Andrew Smith adds, " The real truth is that good family homes are not getting a second glance alongside all the repossession, as buyers are only willing to make extremely low bids, which would send most homeowners into negative equity"

An Instant Sale offers a totally discreet and individual service and guarantee to make an offer on all properties viewed by their local representatives. Unlike auctions, An Instant Sale will not charge a fee for helping their clients stay out of debt.