Auction Property Solicitors in London
We understand that buying a property at auction is a time-sensitive issue. Our auction property solicitors in London are able to review sale packs prior to you attending auctions to advise you of any potential problems with the property you are intending to purchase. We can also obtain additional information if need be before you put your deposit down, when buying property at auction. Once instructed, our experienced team of auction property solicitors in London will be on hand to assist you with any step during the process at auction.
Buying Property at Auction
If you proceed to auction without having the legal pack checked, solicitors are unable to renegotiate the terms of your contract, as this is finalised as soon as the hammer goes down. This is why our auction property solicitors in London always advise you to let us check the legal pack before buying at auction.
Once your bid is accepted at auction, the hammer will come down and you will be required to sign the contract. That contract means that you have exchanged and thus you are legally bound to purchase the property. If we discover subsequent problems after your exchange when buying at auction, then you run the risk of losing your deposit or buying a property which might not be the dream property you were expecting.
It is imperative that when attending an auction, you ensure you have sufficient funds in place to proceed with the purchase within the stated timescale for completion. It’s also important to remember that the timescale is not always the same, so you need to check this beforehand or let our specialists auction property solicitors review the papers and we will confirm the timescale to you.
When buying property at auction we would suggest that where possible you inspect the property and carry out a survey, as there is no obligation on the seller to disclose any structural defects in the property. Therefore, by taking a close look at the property yourself, you’re maybe able to see if there are any structural defects that aren’t safe or appealing.
If you do not take these steps prior to buying at auction, our solicitors can still assist you in the conveyancing process. We will quickly review all documents along with the legal pack to ensure that any problems are ironed out, long before you are required to complete. Our Auction property solicitors have plenty of experience when it comes to buying property at auction, so you are in the best hands with our legal team.
Legal Assistance for Selling Property At Auction
If you are looking into selling property at auction, we can assist you. We will discuss various options with you to ensure that you get the most amount of money from your sale. We will also ensure that the Legal fees and Auction fees are paid by the buyer, which means extra money left in your pocket when selling your property at auction.
By selling property at auction, you may receive a better price, especially if your property requires refurbishment. If your property is difficult to value and you want a quicker sale, then opting for selling your property at auction could be the best option for you. With expertise in this area, we can provide you with all the legal assistance you require for a seamless process.
For further information regarding how our solicitors can help, including our probate solicitors London and power of attorney solicitors London, or for details of costs, please contact Satbir Sethi on 020 8646 4885 or Satbir@p-llp.net.
For details on the conveyancing proceed please see: Conveyancing Stages
Please note the prevailing rate of VAT is currently 20%.
Quotes for conveyancing are charged on a fixed basis unless confirmed otherwise.
A timescale for a conveyancing transaction very much depends on factors such as if there is a chain, mortgage, the speed in which the parties raise or deal with enquiries. There is no guarantee in respect of timings. However in average we anticipate 6-10 weeks fit a freehold sale/purchase and 8-12 weeks for a leasehold/shared ownership sale or purchase. We will provide further updates throughout your transaction to give you a better indication of timelines on your individual matter.