Auction sales can be a successful way to sell a home in Reading, as the recent sale of Kate Middleton's childhood home shows
The Reading area has recently been in the news following the sale by auction of the childhood home of the new Duchess of Cambridge. The house on Cock Lane, Bradfield Southend, Reading RG7 in which the former Catherine Middleton grew up, was sold to a private buyer at the auction sale, and fetched well above its reserve price. Kate's parents bought up the house in near Reading in the 1970s, and set up their successful party planning business there before selling the property in 1995.
Selling and buying houses at auction has become a more popular choice over recent years. Although it has long been a common way of selling in situations where the seller does not live at the property, such as mortgage lenders and personal representatives, many home owners are now finding attractions in this way of finding a buyer.
The main advantage for sellers is that once the auctioneer's hammer falls a sale contract is immediately created, so the buyer cannot withdraw without paying a penalty. Romans whose local office is at 33-34 Market Place, Reading, Berkshire RG1 2DE hold regular auctions including properties in the Reading area. The results of their most recent sale show homes achieving significantly more than their guide prices in most cases.
Instructing a Conveyancing Solicitor early is important
If selling at auction it is important to instruct a Conveyancing Solicitor at the earliest opportunity. Once an auctioneer has accepted a house for auction a legal pack will have to be prepared for inspection. Most auctioneers now require these packs to be supplied electronically, or even uploaded by Conveyancers directly to the auctioneers website, so that prospective buyers and their Conveyancing Solicitors can quickly check them.
If you are considering buying a Reading property at auction, get professional advice before attending the auction. Conveyancing Solicitors regularly get clients turning up having bought a house at auction without having had a survey or getting the title checked. All to often it turns out that there are structural problems or the legal title is defective and cannot be accepted by a mortgage lender, leaving buyers with an expensive mistake or being sued for breach of contract.
Fridaysmove can assist you to obtain the services of a Conveyancing Solicitor who specialises in auction Conveyancing in Reading. Phone 0330 660 0286 for a quote now.