A Property Auction can be a cost-effective and efficient method of selling or purchasing a property. The contract is completed when the bidding ends and a deposit is paid on the day. This makes the transaction legally binding and a completion date is set on exchange.
It is important to have expert advice so that you know exactly what the process is and how it will bind you into a contract. Our team has dealt with both sale and purchase auction transactions and will ensure you fully understand the transaction process.
Unlike a standard purchase transaction, searches are carried out by the seller’s solicitors and they prepare an auction pack for the purchasers. This pack is shortly available before the auction in order for the transaction to proceed as quickly as possible. As there is a short period of time for the purchasers to review the pack, we can advise you on the pack’s contents. We at TML Solicitors are also able to prepare packs for sellers who wish to sell their property at auction.
If you need help from our business solicitors, please do not hesitate to contact our office on 0116 247 0022 should you require a quote or any further information. Or complete our enquiry form and we will call you back by the end of the next working day.