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Buying property in auction?
shiqi
Posts: 1 Newbie
Hello
My parents live overseas and they are interested in investing in properties in the UK. We had a look at the option of buying houses from auctions. We have a couple of queries however and wonder if anyone could help?
Many thanks in advance for your response. This area is pretty new to me therefore any kind of advise would be much appreciated.
My parents live overseas and they are interested in investing in properties in the UK. We had a look at the option of buying houses from auctions. We have a couple of queries however and wonder if anyone could help?
- I already have a Help to Buy mortgage under my name. Can I still buy and own an auctioned property if we can pay it with cash? Will it affect my current Help to Buy mortgage in any way?
- My parents would have to send the fund from overseas. Do we have to send paperworks. gifting letters etc prior to contract exchange if we won an auction?
Many thanks in advance for your response. This area is pretty new to me therefore any kind of advise would be much appreciated.
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