Do not step into the auction room without an AIP. Because of the tight 28-day completion window, you need to know exactly what a lender is willing to give you before you raise your hand. 2. Consult a "Lending-Specific" Solicitor
Standard conveyancing can take months. You need a solicitor experienced in auctions who can review the before the auction and move at lightning speed once you win. 3. The Valuation Hurdle
This is an extra fee paid to the auctioneer on top of the purchase price.
You’ll need to pay 10% immediately on the day.
This post outlines the essential steps and risks of using a mortgage to purchase a property at auction. 🏠 Can You Buy at Auction With a Mortgage?
Do not step into the auction room without an AIP. Because of the tight 28-day completion window, you need to know exactly what a lender is willing to give you before you raise your hand. 2. Consult a "Lending-Specific" Solicitor
Standard conveyancing can take months. You need a solicitor experienced in auctions who can review the before the auction and move at lightning speed once you win. 3. The Valuation Hurdle
This is an extra fee paid to the auctioneer on top of the purchase price.
You’ll need to pay 10% immediately on the day.
This post outlines the essential steps and risks of using a mortgage to purchase a property at auction. 🏠 Can You Buy at Auction With a Mortgage?
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