Buying at Auction

If you intend to sell or buy a property at auction, you should make sure that you research the matter thoroughly, before proceeding.

Buying at Auction

Buying at auction, is not for the unprepared. If your bid is successful you have committed to purchase a property and must complete the transaction no more than 28 days after the date of the auction.

If you fail to complete by the date stated in the auction contract you will be in breach of contract and at best this will cost you potentially a few hundred pounds in interest on the contract for a breach of contract and also the cost of solicitors for serving you with a notice to complete.

If you are unable to proceed to complete even after a notice to complete has been served, you will potentially loose your 10% deposit and be sued for damages under the terms of the auction contract. Not all properties that are sold at auction will be ‘bargains’ and preparation is the key to ensure, that you spend your money wisely.

 Get in Touch

For a Fixed Price Quotation please feel free to email or call Peter Tustain at our Nuneaton office on: 02476 641222.

Alternatively, simply use our Contact Form.