Town and Country are here to help, whether it’s your first-time buying atauction or you are an experienced purchaser. Our registration and buying guides will provide you with the guidance to confidently secure your purchase.
Operating across the UK and Europe our property experts have years of experience ensuring you are in secure hands when making your auction purchase. Our team is on hand to provide guidance throughout the process from your initial enquiry right through to completion.
If you're looking to buy a property at one of our online auctions, there are several steps you should take to ensure a successful purchase.
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The guide is an estimate given by the Auctioneer, providing you an with an indication of the seller’s reserve price.
A reserve price is price stated as the lowest figure acceptable to the seller. This is confidential between the seller and the auctioneer.
Yes, unless stated otherwise on the particulars. Contact the office dealing with the property you are interested in, you will be asked to provide your contact information along with your buying position for example mortgage agreed in principle or a cash buyer.
In a private treaty sale through an estate agent, you would expect to see the legal documents after you have made an offer. As the auction sale requires speed of the transaction these are provided by the seller's solicitor in advance of the auction.
Contracts are exchanged immediately following the fall of the gavel, the purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated). A deposit and a buyers premium are payable immediately.
Upon the fall of the hammer, the auction conditions require exchange of contracts within 28 days (unless otherwise stated) followed by completion within 28 days of exchange. The purchaser shall pay a non-refundable buyer’s premium. The buyer’s premium applicable to the property will be noted on the property listing.
Buying a property at auction is very different to traditional purchases. Completions happen much faster, so it often pays to arrange your finance before the auction gets into full swing. After all, you’re the legal owner the moment the hammer goes down – and you’ll typically have only 28 days to provide the balance of the purchase price. We work with DNA Financial Solutions, who are well-versed in the world of short-term finance. Their experts are on-hand before, during, and after the auction to help you turn the funds around within a tight timeframe. They will finance your standard two up two down or semi- detached to used opportunities, unusual properties, and building plots lacking planning permission.
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