Want an Auction Conveyancing Solicitor in Birmingham quickly?
Call us NOW on 0330 660 0286
Buying at auction in Birmingham and the West Midlands can be one way to acquire a home cheaply, but many have found that failing to get professional advice from Conveyancing Solicitors in Birmingham beforehand leaves them with a very expensive problem once their bid is accepted.
When 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. 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 Birmingham Conveyancing Solicitor could do to help you then.
Cottons of 361 Hagley Road, Edgbaston, Birmingham, B17 8DL (Tel: 0121 247 2233) is one of several auction houses which hold regular sales which include residential properties. Their next sales are on the 20th October and 1st December 2011.
Taking early advice helps avoid problems
Some of the problems that taking early advice from Conveyancing Solicitors in Birmingham can help you to avoid:
- Problem with the title – many homes are put up for sale by auction because the seller's title is not in order. The auction conditions will prevent you raising any arguments about it, so this is one good reason to get a Conveyancing Solicitor in Birmingham to check things first.
- Buyer can't get a mortgage – many people think that they can arrange a mortgage in the time between the auction and completion, which may not be possible.
- A survey shows up major defects – buyers often don't bother to get a survey before the auction, some haven't even looked at the property! If you find out after the sale that your house is in danger of collapsing, you will still have to go ahead with the purchase or risk losing your deposit.
- Difficulties with leasehold flats – when the property being sold is a flat, it is often found that the seller is in arrears with payment of service charges, or the lease is defective and not acceptable to mortgage lenders.
- Buyers cannot arrange finance in time for completion – the final completion date is specified in the auction conditions. Although often four weeks from the auction, it may be sooner. The date is not negotiable, so if you aren't ready to complete by then, you will have to pay interest and other penalties.
Getting advice is not expensive
If you think that obtaining advice from Conveyancing Solicitors in Birmingham is going to be expensive, think again. Phone 0330 660 0286 now and get a quote. If your bid isn't successful 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.
Instructing your Conveyancing Solicitors in Birmingham beforehand means that they will already be up to speed with your case and will not have any difficulties in arranging completion on the specified date.
Get a Birmingham Conveyancing quote.
Even if a sale is only a few days away it is never too late to get advice from Property Lawyers in Birmingham before attending the saleroom.