Buying at Auction

Buying a property at auction can be a cost-effective way of getting onto the property ladder or increasing your property portfolio. It can also be a daunting process. We can assist and guide you through the complexities of the auction process.

Prior to the auction you should obtain the ‘legal pack’. The legal pack typically includes a copy of the Deeds, a plan identifying the land being sold, searches, EPC and much more.
Let us check the legal pack for you. Properties in auction are often unmortgage-able, have loopholes or hidden costs associated with them i.e. inadequate rights of access, Japanese knotweed, tenants that will not vacate, extortionate service charges to name but a few. By instructing us to check the auction pack in advance of the auction, any issues can be brought to your attention quickly.

Once you have successfully bid at the auction, you are committed to the purchase of the property and risk losing your 10% deposit if you later decide to withdraw. Making the right decision from the outset is crucial.
You will be given a copy of the auction pack and signed contract following a successful bid, which will state when completion must occur (usually 28 days after the auction). These documents must be handed to us immediately so that we can meet with the obligations set in the auction contract to make sure that you do not breach the contract terms. We can handle this process for you with ease and professionalism.

Selling at Auction

Before placing a property in an auction for sale, the auctioneer will require a ‘legal pack’ from you. We can prepare this on your behalf in a timely fashion. If requested, we can even add a clause into the auction contract for the cost of the legal pack to be repaid to you if the property is successfully sold at auction.

If you sell at the auction, we can then continue to act on your behalf with the legalities of selling the property quickly and with minimal involvement from you. Just send us details of where to pay your money and leave the rest to us!