Auction properties
Buying or selling a property at auction can be a fast, effective, and sometimes cost-saving route compared to traditional property sales. However, the speed and binding nature of purchasing at auction means taking proper legal advice beforehand is crucial.
At Owen White Catlin, our experienced conveyancing solicitors guide you through every stage of the auction process, giving you confidence that your legal matters are handled with care, precision, and expertise.
Buying a property at auction
Property auctions operate differently from traditional sales. Traditionally, an auction involved a successful bidder being legally bound at the point of acceptance, and the buyer pay a deposit at that point with completion usually within 28 days.
Another form of auction, there is a bidding process and the successful bidder is not bound at that point but must exchange and complete the purchase usually between 56-72 days of the successful bid.
To ensure your purchase is smooth and secure, we will:
- Review the auction pack, including title deeds, property searches, replies to pre-contract enquiries, and any special conditions of sale.
- Advise you on risks that may affect the property’s value or your ability to sell in the future.
- Help you prepare for completion, ensuring the remaining balance is transferred efficiently.
By reviewing the legal pack before bidding, we help prevent costly issues and give you the reassurance that comes with thorough legal guidance.
Selling a property at auction
Selling at auction can be quicker than traditional sales and may attract competitive bids, often achieving a better price. Our team will:
- Assist with preparing the auction pack, including collective deeds obtaining, search results, planning permissions, building regulation consents and drafting special conditions to the contract.
- Deal with enquiries of any perspective buyers’ solicitors and negotiation of the special conditions of the contract.
- Handle all legal work from the day of the auction to completion.
Talk to our property solicitors today
At Owen White Catlin, we provide clear, practical advice and guide you through every step of buying or selling at auction. Whether you’re bidding for your first property, selling through an auction, or navigating post-auction matters, we’ll act efficiently and decisively to protect your interests and achieve the best possible outcome.
You can contact us using our simple online enquiry form or by calling one of our office numbers. One of our expert solicitors will be happy to help.