If you are looking to purchase a property at auction, whether you are a first-time investor or a property mogul, Bendles are able to help you.
If you are successful in your purchase at auction, you will pay a deposit based on the agreed purchase price on the day of the auction.
The deposit cannot be returned to you should you change your mind following the auction and wish to withdraw from the purchase. This is because you “exchange contracts” on the day of the auction.
Exchanging contracts makes the purchase legally binding on both parties to the transaction.
It is therefore very important you understand the property you are purchasing, and the risks should you change your mind after exchanging contracts.
How can Bendles help?
Before the auction takes place, Bendles can assist with reviewing the legal pack for the property you are interested in purchasing prior to the auction taking place.
This will allow you to identify any legal or other issues with the property that you may not have otherwise spotted.
If you are successful at auction, we can then assist you with the conveyancing from exchange to completion.
Our offices are based in Carlisle, Wigton and Whitehaven, and we are able to assist with properties all over the Cumbria area.
Please contact our residential property team on 01228 522215, or email info@bendlessolicitors.co.uk for more information.
