First live online property auction

The first live online property auction in the UK will be held by i-bidder.com, on Thursday 15th May 2008.

The auction will enable users to go online and to watch the action in real time and bid for any one of the 14 commercial or residential properties being offered for sale.

The properties are all in the Yorkshire area from Knaresborough to Otley to Harrogate and are being offered for sale by leading local Auctioneer Feather Smailes Scales, a Harrogate-based firm of property auctioneers, surveyors and agents.

This is a first for the property industry in the UK, being able to interact live online with a physical auction taking place in real time.

Some of the properties up for sale on the 15th of May include, a row of three cottages in the historic market town of Knaresborough. The cottages are to be sold in two different lots. 2 and 3 Middleton Cottages each have 2 bedrooms and a rear garden terrace, with number 2 having recently been refurbished (guide price £250,000). No.4 with 2 bedrooms, to be sold with an adjoining plot with full planning consent for a further 2, two bedroom properties (guide price £300,000).

The sale also includes a detached house that has been converted into 4 flats requiring modernisation in the West Yorkshire market town of Otley, offered with a guide price of £200,000.

Tips for buying property at auction:

• Register early with the site and auctioneer allowing you ample time to go and physically view any properties that you are interested in and arrange a survey
• Calculate your upper limit well in advance of the auction

For details of all the lots on sale on the 15th May, view the online catalogue at www.i-bidder.com. NOTE: Successful buyers at this property auction will pay an administration charge of £250 per lot wheter they bid online or in person. If you want to bid you need to pre-register on the i-bidder.com site. You will then be contacted by the auctioneer who will ask for a deposit in advance for registration prior to sale. Full terms and conditions for each auction are available on the site.