A resurgence property auctions is taking place, particularly in the country.

Auctions can provide great opportunities but potential buyers need to be prepared if they are to take advantage, and to adopt a planned bidding strategy.

There are a number of approaches to bidding, but it is usually better not to open the bidding. Yo should not show your hand until the last minute.

If you do instruct a buying agent (many people do particularly if they wish to remain anonymous) let them act on your behalf - it is often better if the buyer does not attend the auction itself. But agree on a bidding limit and strategy beforehand - don’t get carried away.

When you enter the bidding, go in with a substantial increase on the previous offer, as this will often psychologically outbid the other buyer who may have already thought that he had the property in the bag.

Always agree a discretionary bid – this is simply one bid more than your maximum limit – as this is often necessary if the bidding is out of kilter. For example, if the opposing bidder offers your maximum limit, the buyer is forced to offer a higher bid in an attempt to win the property.

Look out for the tell tale signs that the auctioneer has reached the reserve price and can therefore sell from that point onwards – something along the lines of ‘we’re here to sell’.

Houses are usually listed at guide prices well below market value to encourage bidders, and so you should expect to pay well in excess of the quoted price.

It is essential for intending buyers to conducts extensive research properties in which they are interested before the auction, as once the hammer comes down it is legally binding and 10 per cent is required as a deposit. Usually the vendor conducts a survey, which is then available for a fee.

For further information on The Buying Solution contact 020 7861 1097, or visit www.thebuyingsolution.co.uk.