Property Auction
Discussion
You are responsible for your own due diligence, including a survey and any searches prior to auction which is why the Auctioneer will be able to provide you with a 'Legal Pack' for the lot.
The fall of the hammer is effectively exchange of contracts and requires you to pay a deposit. Failure to complete would result in legal action from the auctioneers.
The fall of the hammer is effectively exchange of contracts and requires you to pay a deposit. Failure to complete would result in legal action from the auctioneers.
Surveys are not available freely for auction properties. You can organise and pay for your own survey if you wish, subject to arranging access prior to the auction date. Legal packs with searches are available.
We rarely have surveys done prior to buying at auction, unless we spot something that requires a second opinion from a specialist surveyor. The cheap, general property surveys are hardly worth getting done as they barely look at the property, merely a valuation survey.
We rarely have surveys done prior to buying at auction, unless we spot something that requires a second opinion from a specialist surveyor. The cheap, general property surveys are hardly worth getting done as they barely look at the property, merely a valuation survey.
I've bought a lot of properties at auction and never had a survey done, but never been caught out. Some major items like subsidence or sagging roofs, rot etc are fairly easy to spot. Also chat to teh guy doing the viewing - often they're aware of major issues which may save you wasting money on a survey. I'm bidding on a place next week though which I was told has subsidence (somebody has written this on a wall inside - most likely a potential bidder as it certainly doesn't have subsidence, merely a blown plaster crack internally)
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