But it could be because it has a very short lease, or sitting tenants on a protected tenancy, or major structural problems, or is subject to a strange covenant that restricts its use. Any of these may or may not be fine, depending on your area of expertise and appetite for risk, but you need to know – so you can factor the cost of remedial action into your maximum bid. If you haven’t worked out what the problem is, you can’t bid effectively. Rob’s Golden Rule Of Auctions #2: Just because it’s in an auction doesn’t make it a bargain.
