Collaborative Post | Buying a property at auction is quick, exciting—and final. Once the hammer goes down, you’re legally committed. That’s why understanding how conveyancing works in this scenario is so important. If you’re not prepared, the dream deal could turn into a costly mistake. ![]() Photo by Roger Starnes Sr on Unsplash What makes auction purchases different?Traditional home purchases allow time to carry out legal checks and surveys after your offer is accepted. At auction, it’s the other way around. When you win a bid, you're immediately bound by the contract. You’ll pay a 10% deposit on the day, with the remaining balance due—typically—within 28 days. That short timeline makes pre-auction preparation essential. What you need before auction dayHire a conveyancer early Before bidding on any property, get a conveyancing solicitor, like SAM Conveyancing, involved. Their job is to check the legal pack provided by the auctioneer. This includes:
Review the legal pack thoroughly Ask your conveyancer to look closely at:
On the day of the auctionBe Financially Ready You’ll need to:
Bid with Confidence Only bid once you’re satisfied with the legal review, have a firm mortgage offer (if needed), and understand all costs involved. If you win, your conveyancer gets to work straight away to meet the tight completion deadline. After the hammer fallsPost-auction conveyancing steps Once you've won, your conveyancer will:
Don't risk a rushed dealBuying at auction isn't just about snapping up a bargain. It’s a legal commitment with no cooling-off period. That’s why early, thorough conveyancing is so important.
Get a solicitor involved as soon as a property catches your eye, not after you’ve bought it. This way, you’re not just bidding with confidence—you’re buying wisely. Need help understanding what’s in a legal pack or whether a property is a good bet? Get expert support before the auction clock starts ticking. Disclaimer: this is a collaborative post. Comments are closed.
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The articles on this page are guest posts and reflect the views of the author, not Fifty & Fab. While I occasionally feature guest content on my blog, I do not personally endorse or promote any specific services, products, or companies mentioned. Please conduct your own research and use discretion before making any financial, health, or lifestyle decisions. Please note: This content may relate to a niche that is considered sensitive (e.g. gambling, cryptocurrency, international finance or CBD). The inclusion of this post does not imply endorsement or recommendation, and I cannot be held responsible for any outcomes resulting from its content or links. |