Auction Properties

If you are planning to purchase a property at auction, we cannot recommend strongly enough that you seek legal advice on that property before you make a bid.

In conventional property transactions, if you discover a problem with the property after you have made an offer, you are usually entitled to walk away from the purchase without liability. However, once you purchase a property at auction, you enter into a contract to purchase the property – it is the same as exchanging contracts.

It is true that there may be ‘bargains' to be had at auctions but you need to also think about the risks involved. Why is the property not being sold on the open market? Sometimes properties that have major physical or legal problems are put into auctions in the hope that unsuspecting buyers make a bid for them without realising the implications.

We offer a fixed-price “Auction Check” service, where we will look into the key legal issues relating to the property from the information contained in the documents available for the auction, meaning that you are able to make a decision on whether to bid for the property (and the amount you might want to bid) with as much information as you need. If you then decide to proceed with the purchase, we will be able to act for you in the purchase of the property at a discounted rate.

Please feel free to call us on 0113 236 2334 to discuss your needs or email us for a quote for our "Auction Check" service.