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Investing in property sold at auction is an exciting prospect, with so many bargain properties out there just waiting for the right bidder. However, buying property either at an auction house or via an online auction is very different to the traditional house-buying process and can present unique challenges.
If you are looking to invest in a property at auction, it pays to do your research and be prepared before you bid on an auction property. Before any auction, you can view and download the legal pack for any property or lots you are interested in. It is important to inspect this pack thoroughly by considering the full details and legal consequences involved in purchasing this particular property. Seeking legal advice is highly recommended at this stage to give you an expert second opinion on whether the property would be a worthwhile investment for you.
When the date of the auction comes, that’s when all your preparation will pay off. All winning bids are final and the winner will be obliged to exchange and complete the property within a tight deadline, often within 28 days. With such a tight turnaround for completion, along with the amount of detailed research required beforehand, it helps to have an expert auction solicitor, experienced in the quirks and speed of the auction conveyancing process, on your side.
Here at Ackroyd Legal, we have extensive experience in assisting buyers looking to invest in auction properties. Our skilled auction solicitors team can help give you personalised legal advice on the legal pack of the property you are considering buying and help facilitate a smooth, hassle-free conveyancing journey once you win your bid.
Contact us now to learn more about how we can help and work with you to support your auction property journey today.
For more information call our expert legal team on 020 3058 3365 or fill the form.
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Ackroyd Legal is a trading style/name of Ackroyd Legal (London) LLP , which is authorised and regulated by the Solicitors Regulation Authority, SRA No. 554585 and is a LLP registered in England & Wales, Company No. OC360125; VAT no. 445717436;