If you know how auctions work, it’s possible to grab a bargain on your next property purchase. But you need to be prepared. There are a few key differences between the standard residential conveyancing process and the auction purchase conveyancing process. This is why we have a team of solicitors in Peterborough the specialist in property auction purchases and sales.
One of the main differences between standard conveyancing and auction purchase conveyancing is the exchange of contracts. Contracts are exchanged as soon as successful big is confirmed. This is when the legally binding contract begins. When you purchase a property in the more traditional way, not at an auction, you don’t enter a legally binding contract until contracts have been written up and exchanged.
It is highly recommended that you speak to our auction purchase and sales conveyancing solicitors in Peterborough before the auction. Giving your auction purchase and sales conveyancer the legal documentation and auction pack on the house you are interested in, in advance, gives them a chance to check the property before you bid. This means that you will a greater piece of mind that all legal intricacies surrounding the property have been reviewed by a legal conveyancing expert.
Our auction purchase and sales conveyancing lawyers in Peterborough will review all the legal documents, including the auction pack for the property. Based on this, they will identify and make you aware of any potential risks. Our residential conveyancers will also ensure you are clear with all terms and that all fillings are in order. This gives you peace of mind, as a buyer or seller, at an auction. This peace of mind is much needed during the high-pressure environment of property auctions.
Here at Burgh Thorpe Solicitors, we recommend that you speak to our auction conveyancers before bidding. We can complete a full review of the property, so you are aware of possible risks, the condition of the property and any contractual issues. Our auction purchase and sales conveyancers can also provide you with a completion-only service.
Considering purchasing or selling a property at auction? Contract our specialist auction purchase and sales conveyancing solicitors now.