News
You are here: / / / Auction bargains or an expensive mistake

Auction bargains or an expensive mistake

Property auctions have a reputation for being exciting and profitable. But they are laden with untold risks and you must have your wits about you. Not to forget being in good financial shape so you don’t fall foul of the strict payment deadlines.

It should be emphasised that this is a complex subject, and a note such as this can do no more than highlight the issues that need to be considered and discussed. Here are some brief pointers to keep in mind.Here are some brief pointers to keep in mind.

Firstly, go through the auction catalogue carefully and make sure you attend the viewing. If possible take a builder or surveyor along with you. Try to attend the first set of viewings and then go back with a professional. Keep in mind you may not buy the property, so may have to take chance and it will cost you roughly £300 – £500 for a basic survey.

Secondly, you need to have a solicitor lined up and as you’ll only have 20 – 28 days to complete. Plus, we recommend that you instruct a solicitor to review the legal pack before you place a bid at auction. It can be a false economy by not bothering with a title report or survey before an auction. There are properties with title issues or structural defects placed into the auction houses and these may cause you to loose your deposit or turn your hair grey.

Thirdly, not all legal packs will have a full set of searches and search indemnity insurance could be an alternative.

Fourthly, if you are successful at auction make sure you take out building insurance immediately. A leaseholder for a residential property should not have to arrange buildings insurance as the vast majority of the time, the freeholder will have arranged this in line with their obligations of the lease but make enquires.

Do make sure that you get professional advice first or otherwise your bargain may turn into an expensive mistake.

If you are interested in purchasing a property at auction and have any queries, please contact Abu Valimahomed at Meaby&Co: a.valimahomed@meaby.co.uk or call 020 7703 5034

/42 Comments/by
42 replies

Trackbacks & Pingbacks

  1. ล่องเรือเจ้าพระยา says:
    25/03/2022 at 00:58

    … [Trackback]

    […] Read More to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  2. novaทุกรุ่น says:
    12/02/2022 at 01:48

    … [Trackback]

    […] Info to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  3. Runtz shop Near me says:
    09/02/2022 at 12:43

    … [Trackback]

    […] Info on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  4. Phygital Retailing says:
    20/01/2022 at 16:42

    … [Trackback]

    […] Read More Information here on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  5. car dealership surveillance says:
    04/01/2022 at 00:32

    … [Trackback]

    […] There you will find 11817 additional Information on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  6. dumps pin says:
    08/12/2021 at 06:52

    … [Trackback]

    […] Information on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  7. Visual Response Essay Examples says:
    25/11/2021 at 06:05

    … [Trackback]

    […] Read More Info here on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  8. https://www.valuewalk.com/the-best-essay-writing-services-top-5-reviewed-and-ranked/ says:
    20/11/2021 at 10:26

    … [Trackback]

    […] Find More on on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  9. บาคาร่า1688 says:
    15/11/2021 at 00:53

    … [Trackback]

    […] Find More Information here on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  10. online weed delivery california says:
    11/10/2021 at 04:52

    … [Trackback]

    […] Find More Information here on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  11. rv garage says:
    07/10/2021 at 23:29

    … [Trackback]

    […] There you will find 55904 more Information to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  12. kardinal stick says:
    01/10/2021 at 23:27

    … [Trackback]

    […] Read More on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  13. buy ibogaine online says:
    29/09/2021 at 11:27

    … [Trackback]

    […] Information to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  14. nembutal by mail order says:
    18/09/2021 at 23:56

    … [Trackback]

    […] Here you can find 73168 more Information on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  15. Dark0de Market Link says:
    16/08/2021 at 23:44

    … [Trackback]

    […] Read More to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  16. dark0de market says:
    28/07/2021 at 00:26

    … [Trackback]

    […] Info on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  17. คา สิ โน ออนไลน์ ไม่มี ขั้น ต่ำ says:
    16/07/2021 at 21:33

    … [Trackback]

    […] There you can find 39352 additional Information on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  18. Supercritical CO2 Extraction Machine says:
    15/07/2021 at 22:33

    … [Trackback]

    […] Find More on on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  19. it danışmanlığı says:
    03/07/2021 at 01:38

    … [Trackback]

    […] Find More Information here on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  20. it danışmanlık sözleşmesi says:
    29/06/2021 at 10:52

    … [Trackback]

    […] Find More to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  21. microsoft exchange says:
    26/06/2021 at 12:06

    … [Trackback]

    […] Find More Information here on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  22. cabins for sale on the river payson az says:
    24/05/2021 at 23:50

    … [Trackback]

    […] Information to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  23. rolex replicas for sale says:
    21/05/2021 at 04:21

    … [Trackback]

    […] Find More Info here to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  24. what does replica means says:
    17/05/2021 at 21:05

    … [Trackback]

    […] Find More Information here to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  25. hankook ventus prime 3 195/65 r15 says:
    11/05/2021 at 01:47

    … [Trackback]

    […] Information to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  26. Replica Breitling says:
    28/04/2021 at 18:45

    … [Trackback]

    […] Find More Info here to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  27. relx pod says:
    25/04/2021 at 23:26

    … [Trackback]

    […] Info to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  28. buy morphine online says:
    25/04/2021 at 04:03

    … [Trackback]

    […] Find More to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  29. marijuana dispensary near me says:
    14/04/2021 at 03:39

    … [Trackback]

    […] Find More on to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  30. 킹스포커 says:
    30/03/2021 at 07:43

    … [Trackback]

    […] There you can find 8225 more Information on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  31. blonde sex doll says:
    17/03/2021 at 09:55

    … [Trackback]

    […] Find More on on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  32. best site to buy dumps says:
    26/01/2021 at 08:52

    … [Trackback]

    […] Find More here to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  33. bí kíp giữ chồng says:
    07/01/2021 at 00:40

    … [Trackback]

    […] Find More to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  34. sự tôn trọng trong tình yêu says:
    06/01/2021 at 23:45

    … [Trackback]

    […] There you can find 47377 additional Information on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  35. cách để chàng yêu bạn nhiều hơn says:
    06/01/2021 at 02:49

    … [Trackback]

    […] Find More on to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  36. mơ bắt được cá trê says:
    06/01/2021 at 02:03

    … [Trackback]

    […] Read More on to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  37. mơ thấy con ngựa says:
    06/01/2021 at 02:01

    … [Trackback]

    […] Read More on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  38. mơ thấy con voi says:
    06/01/2021 at 00:37

    … [Trackback]

    […] Info on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  39. wigs for women says:
    31/12/2020 at 22:41

    … [Trackback]

    […] Read More on to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  40. cvv shop lv says:
    12/12/2020 at 09:32

    … [Trackback]

    […] Read More to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  41. what are dumps says:
    08/12/2020 at 17:48

    … [Trackback]

    […] Information on that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

  42. social media marketing says:
    07/12/2020 at 00:41

    … [Trackback]

    […] Here you can find 77147 more Info to that Topic: meaby.co.uk/auction-bargains-or-an-expensive-mistake/ […]

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Meaby & Co Solicitors LLP is a limited liability partnership authorised and regulated by the Solicitor’s Regulation Authority (SRA Number 447880) and registered in England and Wales with registered number OC322672. Its registered office is at 2 Camberwell Church St, London, SE5 8QY where a list of members’ names and their qualifications is open to inspection. The term ‘partner’ is used to refer to a member of Meaby & Co Solicitors LLP or an employee or consultant with equivalent standing and qualifications or an individual with equivalent status.

Complaints Policy

Is your Will fully valid? Or does your safety net contain too many holes?Meaby staff proudly supporting the Soho Society Summer Fete – Sunday 1st...

Contact

Property
Quote

X

Contact Us Today

    X

    Get a Property Quote