Buying a property at an auction follows a different process to the one we have set out above. There is no process of exchanging contracts in your own time after a careful examination of the paperwork – the parties are legally bound when the hammer falls – whether or not enquiries have been made. The deposit (and any auctioneer’s fee) is payable by the Buyer on the day, and the completion date is often agreed to take place 28 days later.
The auctioneer will usually have a legal pack (consisting of the title deeds, searches, any other information relevant to the property) available, and these are often available online. Any enquiries or checks should be carried out well before the date of the auction.
The Auctioneer’s conditions of sale will not be the same as the Law Society’s Standard Conditions of Sale, and you should be aware of the small print in the sale contract. There will often be an obligation to make additional payments over and above the price you may have agreed to pay for the property – eg costs of searches, land registry documents, sellers costs and costs for preparing the transfer.
Similar to what was set out above, Solicitors do not make any enquiries as to the state of repair of the property. That is the job of the Surveyor. If you want to bid for a property at an auction, you should consult a surveyor well in advance.
If the successful bidder is unable to complete for an reason – including that the bidder is unable to raise the balance of the funds/ problems or defective title / unable to secure a mortgage, the bidder will forfeit the deposit and may face further legal action if the seller is unable to sell at the same price in the future.
“Call our property team today on ”
(01274) 371978 or email firstname.lastname@example.org
My first contact with MIR SOLICITORS, Bradford was through my accountant's recommendation. What a right move it was, I found them to be very friendly, helpful and efficient. My transition was conducted in a very professional manner and I will use them for my future legal matters. Therefore, I am more than happy to recommend MIR SOLICITORS to anybody who are looking for a reliable legal advice/services.
David Chan of Brighouse, West YorkshireDavid Chan of Brighouse
I recommend them implicitly.
MIR solicitors have managed all my legal requirements over the past 8 years from Employment to Property Litigation. I have always found them to be honest and professional and their service is second to none. I recommend them implicitly.
Mrs. G.T, LondonMrs. G.T, London
Communication is the key to successful relationships
I have had the good fortune to be both a client and strategic partner of Mir Solicitors and have been impressed with the professionalism, courtesy and knowledge demonstrated by everyone at the firm. They recognise that communication is the key to successful relationships.
Nazir Afzal, OBE, Former Chief Crown Prosecutor Crown Prosecution Service for North West EnglandNazir Afzal
Team of Genuine Professionals.
There are many law specialists to choose, yet there are few you can call a friend. That's what is different. Mr Mir and his team are made up of genuine professionals who work hard, you know dedication when you see it.
Conor IbrahiemConor Ibrahiem