PROPERTY AUCTIONS

Express Conveyancing offers a range of fast, high quality and low cost auction property conveyancing services in London and nationwide. Read on to find out more about buying an auction property and how we can help you, or call us on 0800 799 9892 to speak to one of our property solicitors right away.

It is imperative you have a Pre-Auction Title Check carried out on all properties you wish to bid on, prior to the auction. Read our article on auction properties by clicking here.
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Buying an Auction Property

Buying a property at auction is a fantastic way to bag a bargain. There are other advantages too. It is fast, transparent and since it isn’t for the faint-hearted, it cuts out many of the competitors that you would be bidding against on the open market.

Like all ‘too good to be true’ deals, there are downsides to purchasing at a property auction. Auctions are often full of unmortgageable, unregistrable and title defective properties. You also need to bear in mind that you will need to have your 10% deposit ready to hand over on the day of the auction if your bid is successful. Contracts become legally binding the moment the hammer falls.

You need to be particularly cautious if you plan to pay for the property with a mortgage. Standard property auction terms usually give you 28 days to pay the balance and arranging a mortgage within that timeframe can be tricky. If you miss the deadline for completion, you may have to pay penalties as you would on a conventional purchase. You may even forfeit the full 10% deposit, so check contract terms carefully prior to the auction. You should always make sure you have an Agreement in Principle with your chosen lender before placing a bid, and you should also compare conveyancing quotes before you go to auction so that you can get the ball rolling immediately if you win.

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    Why is there a 28 day Completion Deadline?

    The average property purchase takes at least 6 weeks from sale agreed to exchange of contracts. During that time, either party can pull out, change the price or drag out the process. The 28 day completion clause in auction property contracts protects both buyer and seller from all of those possibilities and ensures a swift, problem free transaction. The compensation for the inconvenience is the (often) lower purchase price. When you compare conveyancing quotes, keep in mind that choosing a fast, experienced property solicitor through Express Conveyancing can help you meet that deadline and avoid financial penalties. You should also bear in mind that whilst online conveyancing firms offer low prices, they may not have the expertise or speed needed to get you through the full conveyancing process in good time.

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    What is the Seller’s Legal pack?

    The Sellers Legal Pack is similar to the Draft Contracts Pack in a standard transaction. The biggest difference is that the auction pack will usually contain much more information than a standard contract pack. We at Express Conveyancing act for sellers too. If you are a seller thinking of taking your property to auction or if you are an auctioneer looking for bulk compilation of legal packs then we can help. Contact us today to find out how our Conveyancing Solicitors can help you on 0800 799 9892

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    Going to a property auction?

    Bid with confidence once you have carried out a legal check on the property you are buying.

    As most of the properties going on to be sold in auctions have unmarketable titles, auction properties can be a legal mine field. Our property solicitors offer great value pre-auction title checks upon which you can bid with confidence. Contact us today to find out more about our pre-action checks service by calling 0800 799 9892 or request a call back from one of our experienced team.

What our clients say

Great value for money. Everything went smoothly and I was very pleased with the service provided
Rachel Whitfield
Rachel Whitfield
20:59 12 Oct 18
Excellent! Very responsive, and really helped to push the purchase. There were unexpected delays during the process, but Anthony really helped to reassure me that he was doing everything he could to progress the sale. Ultimately, it all worked out in the end, and I would highly recommend! I would also recommend for auction purposes.
Sean Stevens
Sean Stevens
09:14 21 May 18
Very happy customer. Understanding of our needs and recommended a really fantastic solicitor.
Jack Hearne
Jack Hearne
17:49 12 Oct 18
I have just completed the purchase of my flat with them. They were recommend by the estates agents Phillip Arnold and they were fantastic. My case was handled by Milena who was really helpful and always available on the phone. The online system is also really easy to use. If I buy or sell a property I will definitely be using them again.
Sharon Kelly
Sharon Kelly
18:27 20 Dec 17
I used this service following a recommendation. The online case tracker worked really well. I would recommend this service as it's vital in the coordination between Estate Agencies and between Solicitors. The service proved invaluable in helping progress the conveyancing work efficiently and effectively. Completed the transaction just before Christmas having instructed the Solicitors on the 4th.
Shelly Harrill
Shelly Harrill
16:30 19 Dec 17
Excellent Service. Final Price same as quoted.
A Google User
A Google User
14:26 19 Dec 18
Have used them twice. Both times completion happened in less than 4 weeks, even over Xmas! Totally amazing. They take the stress out of the whole process.
Daniel West
Daniel West
13:04 21 Dec 18
Excellent Service. Final Price same as quoted
Parsa Khamooshi
Parsa Khamooshi
15:54 21 Dec 18
Being a first time buyer they guided me smoothly through the whole process of moving into my first home. Very professional and economical.
Uday Seth
Uday Seth
12:31 24 Dec 18
Express Conveyancing have been excellent in the handling of my recent house sale and purchase. Would highly recommend
James Ellis
James Ellis
11:43 30 Apr 19
Express Conveyancing have been excellent in the handling of my recent house sale and purchase. Would highly recommend
Michelle Preston
Michelle Preston
12:20 30 Apr 19
ThanksThanks for handling my sale and purchase. No complaints from me. Rebecca was regularly on hand to help with my queries and deal with issues.
Claire Miles
Claire Miles
17:48 07 May 19
I bought my first home in South London with Express Conveyancing . Great professional service, I was regularly updated and looked after. Top marks, 100% recommendation from me!
Dale Griffiths
Dale Griffiths
15:58 02 May 19
Good service and happy with the conveyancer
Chris Jenkins
Chris Jenkins
22:01 17 May 19
Great service from start to finish. Was great being able to see progress online! Very quick and efficient! All staff were helpful. Highly recommend
Reece Moseley
Reece Moseley
06:20 30 May 19
I would highly recommend them. They deal with any queries promptly and efficiently. Would definitely use them again.
Sahar Dalini
Sahar Dalini
09:13 10 Jun 19
Fair prices good efficient service
Sue Batchelor
Sue Batchelor
18:46 01 Jun 19