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Buying At Auction

Buying properties at auction is becoming quite common. There are without any doubt quite a few advantages and benefits associated with buying from auction. However, it is important to tread carefully and seek help and assistance from professionals, before, during, and after the entire process. This is because buying at auction might offer a better opportunity in terms of price and choice but there are quite a few legal and other matters that need to be kept in mind. As a first starting point once you have decided to buy a property at an auction, you must engage the help of a qualified and experienced conveyancer.

Firstly, the contract must be reviewed prior to the auction date and the pre-inspection reports, loan approval and negotiation of the terms and conditions of the contract also need to be done prior to auction because if you are the successful bidder at auction, the contract becomes legally binding and you cannot terminate without incurring penalty. There is no cooling-off period when a property is purchased at auction.

Since we have experience in this line we will be able to guide the buyer regarding the maximum price at which the property is worth buying. Once the bid is successfully completed, we help the customer regarding the various conveyancing process of the property. We assign our expert group of valuers to find out more about the fair market value of the property. Our team of conveyancers also gets into the act for sorting out the legal, administrative and other aspects of the entire transaction. Hence, there is no doubt that when buying a property at auction you must engage the services of an experienced conveyancer.