Auction Property Buying & Selling
Whether you are looking to purchase or sell a property at Auction, it can be a quick transaction. This obviously has benefits but also needs to be managed correctly with the correct advice to ensure a successful outcome for you.
For sellers, Property Auctions ensure the sale of the property is swift with ownership transferred immediately following the final offer. For buyers, Property Auctions provide the chance to find a home at a price usually below the standard valuation.
Whilst an appropriate option for a fast sale or purchase, there are risks involved and buyers are advised to carry out in-depth research on the property prior to placing a bid to make sure they are fully committed to the sale.
Buying Or Selling A Home At Auction
Research is the key to success. Once you have identified properties that you are interested in, we will need to request the legal information for that property from the seller’s solicitor. This information will contain information on the property, such as the title deeds and relevant searches. At this point, Tinsdills Solicitors can review that information with you to advise on any potential issues with the property before you place a bid.
If you decide that selling your property at Auction might be a good solution for you, our Property Auction team can advise you to ensure that the process goes as smoothly as possible; from the initial preparation of the sales packs to ensuring the recovery of costs associated with the search fees.
To sell your property at Auction you will require a property pack which will inform potential buyers about key information such as the current title deeds, local authority, drainage and any special conditions of sale.
Make the right decision and choose Tinsdills Solicitors for expert guidance when buying or selling property at Auction.
When buying or Selling Property at Auction, it’s important to consider legal advice. The team at Tinsdills Solicitors work to ensure the selling or purchase process is smooth and handled swiftly, whilst securing the best possible price.
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Read what some of our happy customers have to say following a successful Property Auction with Tinsdills Solicitors.
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The Most Popular Questions For Auction Property
An auction property is a property bought or sold at auction.
On the falling of the hammer, the contract for sale is formed and exchanged. Completion is then set for 28 days thereafter. The successful buyer is legally bound to purchase the property.
No. Provided mortgage or similar funding can be arranged and received by your solicitor within the 28 day period, you can complete with mortgage funding. Searches are often contained in auction legal packs to assist with people who propose purchasing with mortgage funding.