Beware the Pitfalls of Buying at Auction ; Property Briefing

Summary

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PROPERTY auctions have always catered for bargain hunters and buyers seeking something out of the ordinary. We all hope to get a bargain at auction and in the current economic climate, auction rooms are booming.

Sellers at auctions, and many of these are insolvency practitioners realising the assets of insolvent companies or individuals, know that once the hammer goes down, the sale is fixed.

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Extract

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Beware the Pitfalls of Buying at Auction ; Property Briefing

No second thoughts or renegotiation of the price, because of an adverse survey report. The buyer is on the hook; the ...

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