A. Buying a property at auction is becoming more and more popular.
There are many reasons why an auction can be so appealing. It provides the potential chance to grab a bargain property at the right price. It provides certainty of success as contracts are exchanged at the moment the hammer strikes for the successful bidder, and also a completion date is fixed so the date of ownership is known to all involved.
The process of buying at auction seems ideal and full of benefits. However there can also be various pitfalls that a buyer needs to be aware of.
Before you enter an auction and place a bid on a property make sure you follow these tips to ensure that the process runs smoothly and without surprise.
If these straight forward 5 tips are followed, it may cost you a few pounds prior to the auction, but it will be money well spent and hopefully prevent sleepless nights worrying about issues that could have been avoided and cost more than expected to resolve.
For further information relating to the points raised in this article, please contact Head of Residential Property, Sarah Sargent on 0114 228 3281 or firstname.lastname@example.org
Please note this information is provided by way of example and may not be complete and is certainly not intended to constitute legal advice. You should take bespoke advice for your circumstances.