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Buying at auction in Sheffield and South Yorkshire can be an effective route to acquiring a home cheaply, but many find that failing to get professional advice from Conveyancing Solicitors in Sheffield beforehand leaves them with a very expensive problem once their bid is accepted.
If the hammer falls on your bid, you are contractually bound to buy the property. You can't change your mind or pull out as you would be able to do with a standard home purchase.
If you find out afterwards that you can't get a mortgage, or that there is a problem with the legal title, too bad. Failing to complete will cost you the 10% deposit paid at auction and you can be sued for damages and costs, and there is little a Sheffield Conveyancing Solicitor could do.
Finding Conveyancing Solicitors in Sheffield
Don't get caught out! Contact a South Yorkshire Property Lawyer who specialises in property auctions.
Blundells (part of Auction House UK) is one of several firms which have regular auctions of properties in Sheffield and South Yorkshire. Their next sales on 27 September and 22 November 2011 are being held at the Sheffield Park Hotel, Chesterfield Road South, Sheffield S8 8BW.
What are the benefits of getting early advice from Conveyancing Solicitors in Sheffield?
Your Auction Conveyancer in Sheffield can:
- check that the seller's legal title matches the property description in the auction brochure.
- check any local searches and other information supplied by the sellers about the property, or advise what steps should be taken if no searches are available.
- if the property is leasehold, check the provisions of the lease and information about the management of the building, such as the level of service charges.
- discuss your financial arrangements to check that you will not have any problems in completing.
- advise you on the Conditions of Sale which will form part of the sale contract.
- ask the seller's solicitors for more information if required.
If you think that obtaining this advice is going to be expensive, think again. If you are unsuccessful you will not be asked to pay the full fee for a purchase, and if you do buy a house then the total legal fees will be the same as for a normal purchase.
Auction contracts always provide for a fixed completion date. This is usually 28 days from the auction date, but it may be earlier.
Instructing your Conveyancing Solicitors in Sheffield beforehand means that they will already be on your case and will not have any difficulties in arranging completion on the specified date.
Even if a sale is only a few days away it is never too late to get advice from Property Lawyers in Sheffield before attending the saleroom.