Forbes solicitors are specialists in conveyancing for properties at auction, contact us for a free conveyancing quote.
SOLVING PERSONAL LEGAL MATTERS
Auction property conveyancing is the conveyancing process that is involved in buying a property through an auction. This may include a variety of different steps, such as bidding at the auction, obtaining financing, and conducting due diligence on the property. The conveyancing process in an auction sale is often faster and more streamlined than in a traditional property sale.
If you have purchased or are looking to purchase a home by auction, it's vital you have the very best auction property conveyancing solicitors on your team who are ready to act fast to secure your property.
As speed is a major factor in buying a home through auction, this factor needs to continue through the entire aution conveyancing process as well to ensure you get the property you want as fast as possible and both parties are satisfied quickly.
Our expert, friendly and experienced team include solicitors specialising in auction properties and can help you throughout all stages of the auction process, from initial research right through to completion.
When researching a property for sale at auction, it's important to do as much homework as possible and make sure you take a copy of the legal pack that contains details of title deeds, any special conditions of sale, office copy entries as well as replies to pre-contract enquiries and have the documents looked at by the specialist auction property solicitors at Forbes.
Forbes can help you look through any documents regarding a property at auction and make sure your investment is sound, making you aware of any potential or existing issues with the property, including problems regarding legal titles or any environmental issues.
Furthermore, if you have decided to purchase a property at auction and paid the initial 10% deposit, theproperty auction solicitors at Forbes can make sure all legal papers are filled out correctly and any special conditions of sale etc. are outlined and met.
Alternatively, if you are considering selling at auction the experts at Forbes can help you prepare a comprehensive legal pack that includes all the necessary documentation to successfully sell your property. Our property auction solicitors have the experience needed to take the hassle out of selling at auction.
If you are thinking of buying or selling a property at auction, make sure you're fully prepared by consulting with an expert solicitor for auction properties at Forbes. Our commitment to exceptional customer service and fixed fee rates for our auction property conveyancing is just part of the reason we have gained a fantastic reputation as solicitors who keep their clients in the loop at all times and get the job done.
Whether you're considering selling a property at auction or want to buy, it's very important to have all of the information together in advance and to have specialist conveyancers in your corner to help get the transaction over the line.
The team at Forbes are highly experienced in handling both pre-auction conveyancing tasks and also making sure that the legal requirements are met once the hammer has fallen.
Buying or selling at auction can have its challenges, such as the usual 28-day deadline for completion. It's important to know that your auction property conveyancers are capable of working proactively in these kinds of timeframes to get the transaction done.
The team at Forbes offer expertise in auction property conveyancing and our commitment to clear and regular communication ensures you always know where things are up to with the auction property that you're buying or selling.
It's essential that you have read and understood the legal pack for a property you want to bid on before you do so, as winning at auction means you are committed to buy. For this reason, it's recommended to get a solicitor before the auction to check the legal pack and ensure that you understand the contents of this document.
There are different types of fees to consider when buying a house at auction. These include an administration fee to the auction house, your conveyancing solicitor fees, any stamp duty due and any other fees specified in the legal pack for your specific property.
The auction house fees vary, depending on the auction house involved, but are usually between £200-£500. Conveyancing fees can also vary, but your conveyancing solicitor should ensure you are provided with a quote beforehand. Stamp duty may be due, depending on the value of the property.
It's standard for most auction property purchases to require a 10% deposit on the day of the auction, with the remainder of the purchase price due upon completion within a short period of time after that, usually within 28 days of the auction.
If the buyer fails to complete the transaction within the deadline, they may forfeit their deposit. This is one reason why it's essential to have conveyancing solicitors that are experienced with the auction process assisting you with your purchase.
While there are many benefits to buying an auction property, there can also be some risks. These include there being issues with the property that you're not aware of before bidding or some legal problems. You can mitigate most of these risks by getting a conveyancing solicitor to check the legal pack before you bid and getting a survey done on the property.
The risk associated with paying for a survey on the auction property before you bid is that you may not be successful, and you will get no return on the money you spent on the survey. However, the survey should flag up any structural issues that could have a bearing on how much you choose to bid vs the cost of any work needed, so can be a worthwhile investment that can save you money in the longer term.
Our expert conveyancing team can assist with your auction property purchase or sale. Get in touch to find out more.
Partner, Conveyancing Solicitor, Blackburn