Auction Properties, Signed Sealed and Keys Delivered.
Auctions are a great way to buy a property, but there is more to the process than turning up and landing yourself a bargain.
Every year tens of thousands of properties go under the hammer at auction. This is largely due to the number of properties that are being repossessed, as well as owners wanting quick and decisive sales. Thus, auction sellers are usually either landlords who want to offload property, mortgage companies or local councils. Once the hammer falls a property is sold and the buyer is legally committed to pay the full price within 28 days. This, to sellers, is part of an auctions appeal.
At an auction the auctioneer immediately exchanges contracts upon the acceptance of the highest bid. Usually a 10% deposit is also paid on the day. Here at EAD Solicitors, we are experts in buying and selling properties at Auction. We regularly attend Auctions in Liverpool and the wider region, giving advice to potential buyers. To learn more about the language used when buying at auction, take a look at our buying at auction jargon buster.
We can provide practical advice, and assistance in buying at auction. To read more about buying property at auction please visit our top tips page. If you require any further information, please call us on 0151 735 1000 or fill out our enquiry form. Although we are based in Liverpool and Huddersfield we can act throughout England and Wales. To read more about buying property at auction, please take a look at EAD’s top ten tips for buying at auction page.
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