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Buying & Selling At Auction

Buying or selling a house at auction is a very different exercise from a normal conveyancing transaction and we always advise that you talk to us at an early stage to avoid potential pitfalls and problems.

Buying: when you buy at auction the contract is made upon the highest bid being accepted and both parties are legally committed to complete the transaction (usually within 21 days).  A bid should therefore always be fully informed.

Although a Seller’s Auction Pack may be available it is important to consider getting your own structural survey done on the property alongside all the necessary checks and searches to make sure there are no nasty surprises. 

Additionally of course you will need to have your finances sorted in advance of raising your hand! This would include a 10% deposit and mortgage finance to complete if required. We can assist you by checking the Auction Pack as to title, searches and other matters to enable you to make an informed decision to bid for the property.

Selling: the more information you provide ahead of the auction, the more likely you are to encourage a number of competing bidders. 

We can assist you in compiling a Seller’s Auction Pack which should include, for example:

  • Local authority, drainage and water searches
  • Registered title
  • Energy Performance Certificate
  • Information in respect of leasehold residential properties etc.