Buying or selling a home at any time can be a stressful procedure and this is even more so when it involves auction sales and purchases of property requiring the services of an experienced residential conveyancing solicitor such as George Ide LLP.
Homes for sale by auction are available throughout the UK, most frequently in larger cities rather than areas such as Chichester. Auction properties, ranging from small, dilapidated flats to large family homes, may be mortgage repossessions or unusual properties on which it is difficult for an estate agent to make a realistic price estimate.
Once you have found a potential home and viewed it, if you need to borrow money for a deposit and/or mortgage, you must arrange this finance and then consult a law firm to make the usual pre-sale searches and check if there could be any legal issues arising from the auctioneer’s conditions of sale.
If you are successful in winning the auction for your chosen property, you have a legal obligation and commit to complete the contract with the added proviso that you only have 28 days in which to pay over the balance of the money due for the sale otherwise you will lose your deposit.
Because of this strict deadline, it is essential that auction sales and purchases are handled by a speedy and efficient solicitor who will keep the client’s best interests at the heart of the transaction.
The residential conveyancing solicitors of George Ide LLP are experienced in preparing and handling all types of legal contracts for transferring property and will happily advise prospective buyers and sellers who are considering using an auction.
To contact a conveyancing law specialist for advice on auction sales and purchases please call us at our Chichester office or email one of our partners shown on this page.