The final stage of buying a house: exchanging contracts and collecting the keys
What is required to exchange contracts and complete your residential property transaction?
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Buying a property an auction can be an exhilarating experience, although it is important that you do your research and appoint a solicitor before the event.
Buying property at auction
Our conveyancing specialists understand that buying a property at an auction involves making a purchase at speed and that the same fast pace is required to continue throughout the remainder of the process.
Prior to attending the auction, our solicitors will review the auction packs for each of the properties that you are interested in, ensuring that there are no existing problems associated with the properties, for example with the legal titles or any environmental issues.
This enables you to be sure that the property you are purchasing is as it says it is in the catalogue and prevents you from being faced with costly issues after you have purchased it.
Once the property has been purchased and the initial 10% deposit has been paid at the auction, our team works quickly to fully digest the auction pack from the vendor’s solicitor.
They compile all the necessary documentation required to complete the transaction, for example, any specific conditions of the sale, title deeds and property search results, before transferring the outstanding balance of the property and completing the transaction within, what is usually a 28-day timeframe.
If you would like to receive a free, no-obligation conveyancing quote, please click on the link below and complete our quick online form and a member of the team will be in touch.
For details of our fees and services in relation to residential conveyancing work, please click on the relevant drop-down option on our Pricing page which can be viewed here.
Buying property at auction
Our experience of dealing with properties bought at auction has highlighted the importance of a thorough review of the auction pack before attending on the day.
We have highly knowledgeable experts who have an eye for finding even the smallest of issues, enabling us to resolve them before you make any commitment to buying the property.
After your bid has been successful, our team uses its expertise to promptly complete the remaining process, ensuring that the transaction is completed on time, avoiding any unnecessary delays.
We are also a member of the Law Society’s Conveyancing Quality Scheme, which is an accreditation that guarantees that we are providing you with the best conveyancing service achievable.
Contact Us
If you require any further information or a no-obligation quote for purchasing a property at an auction, please call 01332 226 139 or complete the form below.
Knowledge
What is required to exchange contracts and complete your residential property transaction?
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On Monday 29 September, Flint Bishop successfully completed the acquisition of the entire business of Lupton Fawcett LLP. You have been forwarded to the page most relevant to your visit.
Please feel free to explore our website and learn more about our legal services and professionals, including those who have recently joined us from Lupton Fawcett.
