We have vast experience in turning around legal work in property auctions within tight deadlines. Our experienced and professional team here at Black Norman Solicitors are here to assist you with your bid for property and auctioning off your home.
Auctioning a property can allow for a speedier transaction than the usual house selling or buying process. Selling or buying at auction avoids lengthy discussions and negotiations and avoids the need to market the property for long periods of time. The costs involved are reduced through both ends of the auctioning process, and are set out from the outset. You can choose to set a reserve price for your property to ensure you reach the sum required to discharge any mortgage or charges on the property or even in line with the current market valuation. The reserve price is a confidential figure known by the auctioneer and the seller and will not be disclosed during or after bidding has taken place.
At property auctions, the window between bidding on and securing a property and fully completing the buying or selling process is set for 30 days, but can be altered by agreement between the parties if necessary. This time period gives lots of our clients reassurance when going through the process of buying and selling and is less stressful to all parties.
Solicitors are an important part of the property conveyancing and purchasing process as they ensure that any legal requirements are being met from both the selling and purchasing sides. Solicitors are required immediately after the property is sold or purchased and must get the ball rolling, asap in order to meet the deadlines agreed to at auction.
We’re a trusted solicitor firm based in Crosby, Liverpool.. If you’re planning to auction or bid for property, you must ensure that you fully understand the legal requirements of your purchase or auctioning before you do so. We can help you with all types of property conveyancing, legal and estate planning. We work alongside some of the most established auction houses and can recommend the perfect auctioneer for you, who we would then work side by side with in order to give you the best possible service.
Get in touch with one of our solicitors today for more information and advice on how we can ensure your property purchasing or selling process runs as efficiently as possible.
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The main differences are the cost and the speed of the buying process. When auctioning, you usually receive a deposit from the buyer on the day of auction, and the process is usually completed within 25-30 days. This can take a lot longer when selling through a private company.
It’s considered to be much easier to buy a property at auction than it is to buy through a company, however there are a lot of things to consider and have in order before bidding at an auction. Having your finances in check is a vitally important part of the purchasing process.
In some instances, you will definitely be able to get a mortgage for your property, depending on the mortgage vendors you choose. Usually, depending on the condition of the house, you can receive a mortgage based on the property’s value.
