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Buying at auction is a different process to the conventional way of buying a property. Buyers at auction will have exchanged contracts if their bid is accepted. A Buyer is then usually bound to complete on the purchase within 28 days or lose their deposit. It is too late to worry about the legal process until after the auction. You should go into the auction fully aware about the property’s legal state. It is therefore essential that you have a solicitor investigate title to the property to ensure that the property is not defective and unmortgageable prior to auction.
If you are considering buying a property at auction then call our mobile friendly enquiry line on 033 33 22 1000 or 0800 987 8156 to speak to a conveyancing solicitor.
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