Are there fewer costs in buying at auction than through an agent?

Are there fewer costs in buying at auction than through an agent?

David Sandeman (Managing Director) gives expert video advice on: Why should I buy at auction?; How do I find a bargain at auction?; Can I view a property before the auction? and more...

Well in fact the costs involved in buying the property are very similar. In both cases you will incur legal fees and surveyor's fees and possibly fees to arrange the finance. You won't be paying a buyer's premium in either case, but at most property auctions now you will be asked to or you will need to pay what they call an administration fee which is somewhere between £175 and £300 plus fees to the auctioneer together as expenses and that is the only difference really in the two scenarios.