Ryan Property Law’s team of solicitors and conveyancers are experts at dealing with auction sales and purchases.
For sellers, we encourage our clients to provide us with details of the sale at the earliest opportunity so that we can provide as much detail, search results and other information long before the auction in order to maximise interest in your property. Where you are selling a property that has had problems or difficulties, we look to protect you in ensuring that your property can achieve the best price.
For auction purchasers, we strongly recommend that you seek legal advice on that property before you attend the auction or 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 any liability. However, once you purchase a property at auction, you enter into a contract to purchase the property regardless of any problems – this is the same as exchanging contracts.
It is true that there may be ‘bargains’ to be had at auctions but you also need to consider the risks involved. For instance, 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 an unsuspecting buyer will make a bid without realising the implications.
We also 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 and provide an auction report to you. This means you will be able to make an informed decision as to whether to bid for the property (and the amount you might want to bid), armed with as much information as possible. If you then decide to proceed with your bid and are successful, we will be able to act for you in the purchase of the property at a discounted rate.
If you are interested in using Ryan Property Law to help you with your transaction, please click on the link for a free, no-obligation quotation for either a sale or purchase transaction and don’t forget to let us know the proposed auction date so that we can look to meet any deadlines.
"Thank you for going above and beyond in helping us with our move and fighting our corner every step of the way. "Lloyd & Luke, Batley
The Law Society's Conveyancing Quality Scheme (CQS) provides a quality standard mark for lawyers in residential conveyancing is also recognised by many mortgage lenders. We were one of the first firms in West Yorkshire to be awarded the accreditation.