Buying and selling property at auction is becoming increasingly popular.
The advantages for the seller are obvious as it is a straightforward, quick way of disposing of property: there are rarely unexpected delays and completion usually takes place within 4 – 6 weeks of the date of the auction.
When acting for sellers, it is important that the sales pack is prepared quickly and accurately, as the packs are the basis on which the bids will be made.
The more comprehensive the sales pack, the more likely it is that the property will receive interest at auction. The story may be different for purchasers.
Many clients are attracted by the low prices but properties bought at auction can have substantial title defects or there may be other issues which are not disclosed by the seller initially. This is where our property auction solicitors can assist you with purchasing a property at auction.
These issues are unlikely to be obvious from a physical inspection. It is vital that you instruct a solicitor prior to the auction to thoroughly review the legal pack. If you make a successful bid for a property, as soon as the hammer drops, you are bound to buy the property whether or not you have checked the legal information available about the property.
Before making a decision to bid for a property at auction, it is wise to consult an experienced residential solicitor to help ensure that you do not make an expensive mistake.
At Myerson, our expert solicitors are specialists in auction sales and can quickly appraise the documentation available and advise you on any potential issues with the property, which means you are fully prepared when you step into the auction room.
How We Can Help
A member of our specialist team will be happy to help.
To discuss Property Auction issues, please either use the contact form on the right, email us at email@example.com or call us today on +44(0)161 941 4000 to speak to a member of our team.