Auctions

Auctions

Auction house sale solicitors in SurbitonWhen a property is purchased at auction the buyer signs a binding contract which gives a fixed completion date usually thirty days after the auction.  The buyer will pay a deposit at that time and sign the contract which is then binding on both parties. Therefore, any checks the buyer may wish to make should be done before the auction takes place as once the contract is signed the buyer is committed and takes the property as seen.

For a property to be purchased at auction funds need to be in place to enable the buyer to complete.  Between exchange and completion we would check to ensure that the person named in the contract is, in fact, the legal owner.

Again, once completion takes place the property will be registered in the new owners name and a copy of the title will be sent out once the registration has been completed.