lawyer to advise for auction property

VeryMan

hello! where can I find a lawyer to advise me about an auctioned property? how much he will charge? someone in Essex! thanks!

Mossfarr

Speak to the auctioneers selling the property, they often have an arrangement with local solicitors who attend all their auctions.
This was the case with an auction I was bidding in (in Liverpool), I contacted the solicitor and he went through the legal pack with me over the phone & didn't charge anything. They also guaranteed completing within the 28day deadline. Other solicitors quoted hundreds for this!
I was well impressed.

martindow

If you are anticipating buying with a mortgage, before you pay anything have a search for threads on this forum regarding buying at auction. A mortgage that has to be sorted before you bid. Normally a deposit has to paid immediately and the balance 28 days later. There can also be substantial fees payable.

Houses in auctions often have major faults and in the main are for brave, risk-taking cash buyers.

Mossfarr

Martindow, I don't agree that auction properties are risky and for cash buyers. You just need to be organised, have your mortgage in place and do your homework about the property. Also, "houses in auctions often have faults" is a pretty sweeping generalisation - in my area the local housing association are selling off their ex local authority properties at auction when they become vacant. They are usually in need of renovation but structurally in excellent condition.

VeryMan

How can I manage to examine the property structurally and legally and in general, from all aspects in such little time?

Can you give me a plan to follow? what checks to make?

Mossfarr

Again I would direct you to the auctioneers. Make an appointment so see one of their advisors. I found their help invaluable, They will talk you through the whole process and may be able to arrange a viewing date and advise re surveys.

MerrilyA

Hello Veryman,

As Mossfarr mentioned speak to auctioneers they are connected to solicitors, finance companies and other relevant bodies.

Risks are minimised when you are in the know.

Auctioneers have legal documents you can read and have a solicitor read through as well. They are available about 1 week or 2 before the auction.

You can view properties, dates and arrangements will be on their website if not you can contact them to get information. It would be useful to view the property with a good builder who can spot things and give advice on prices.