Auction Buyer Service

Buying a property at auction can seem a very attractive proposition. You have the initial choice of properties, the possibility of a real bargain and the adrenalin rush of the bidding process. So what could go wrong?

You need to remember auction sales are used not only for selling unique and highly desirable properties but also for disposing of rubbish that will not sell under normal conditions. It is fair to say that the majority of properties have a genuinely sound legal title but one or two can be a real problem. It is also generally the case that, out of necessity, the contract for sale and related title documents are presented in legal jargon which may mean one thing to a layman but may actually mean something different.

We have, however, seen a number of instances when we have been instructed by a successful bidder after the auction only to find that the contract they have signed is full of holes and puts them at risk of loss or litigation.

If you are not to get caught out by some innocent looking wording, and getting it wrong could be very expensive indeed, we recommend you take advantage of our fixed price pre auction contract pack review service, the Auction Buyer Service.

Our fixed price Auction Buyer Service is intended to be of use to prospective bidders who have obtained copies of the full auction pack and is to be provided in respect of one property per report. Our service will include a report on the terms of the contract, observations on the property title and issues relating to planning and building regulation compliance. The report will aim to draw attention to specific issues of relevance to future resale potential.

The report will also contain standard advice in respect of the contractual position created by successful bidding at auction and respective parties' remedies for the others subsequent breach.

The price is £300 plus vat freehold, £350 plus vat leasehold, regardless of the expected sale value of the property you are interested in and if you are successful in your bidding at the auction we will reduce our normal conveyancing charge to complete and register your property by 50% of the cost paid for the Auction Buyer Service.

Franklins Solicitors LLP are property experts so if you would like to take this opportunity to protect yourself in advance of the auction call on 0800 781 8744 or fill out our online contact form.

Our expert legal advisors are always on call so you can relax knowing we are in control.

If you are looking to buy, sell or remortgage give us a call on 0800 781 8744, fill out our online contact form or visit our downloads section by clicking here to fill out an instruction form.  Our expert legal advisors are always on call so you can relax knowing we are in control.