Buying a property at auction
Discussion
Just after a bit of advice/pointing in the right direction regarding the process of buying a property at auction. I have seen a property that will be going up for auction at the end of September.
Having read the auction company's website and legal bits, they say that the buyer should have any searches completed before buying at the auction. So as I understand it, this is the process:
1) Go down and view the property
2) Instruct a solicitor to do the conveyancing on the property
3) Go to the auction and hopefully win
4) Pay and complete
I appreciate that may be slightly simplistic, but is there anything glaringly obvious that I have missed?
Is there any chance of getting the conveyancing completed within 3 weeks, or is that just wishful thinking?
I've never bought a property before, let alone at auction, so any advice appreciated.
Having read the auction company's website and legal bits, they say that the buyer should have any searches completed before buying at the auction. So as I understand it, this is the process:
1) Go down and view the property
2) Instruct a solicitor to do the conveyancing on the property
3) Go to the auction and hopefully win
4) Pay and complete
I appreciate that may be slightly simplistic, but is there anything glaringly obvious that I have missed?
Is there any chance of getting the conveyancing completed within 3 weeks, or is that just wishful thinking?
I've never bought a property before, let alone at auction, so any advice appreciated.
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