BLOGS

Buying and Selling Property at Auction

If you have ever watched Homes Under the Hammer you will know that when ‘the hammer falls’ at Auction, the property is legally sold. What you may not be aware of is the large amount of legal work which goes on behind the scenes. 

The below sets out what you can expect from us when buying or selling your property at Auction:

Selling at Auction

• Once you have decided to sell your property at Auction, we will need to prepare an Auction Pack, which will be sent out to  prospective buyers.

• The pack will be inspected by prospective purchasers, and their solicitor. We may need to deal with enquiries prior to the Auction.

• Once ‘the hammer has fallen’, you are contractually bound, and will be obliged to complete the sale of the property, to the agreed  buyer. At this point, there can be no further negotiation. We will then deal with the completion  of your sale.

Buying at Auction

• When you make the winning bid at Auction, you are legally bound  to purchase the property on the  agreed terms. It is therefore important that we are able to inspect and advise on the  Auction Pack, produced by the  sellers’ solicitors.

• Once we have checked the  contents of the Auction Pack,  we will report to you, enabling  you to raise any enquiries and  make an informed decision.  

• In the event that you are  successful, we will deal with the completion of your purchase  and register you as the new owners.

When buying or selling at Auction we are aware that time is absolutely of the essence. Our experienced team will do all we can to deal with your matter in a timely fashion, ensuring your process is as stress-free as possible.