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Taunton Solicitors

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London, WC2A 1AL
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Auction sale or purchase

Auctions of property

Property auctions are becoming more popular than ever and Maitland Walker are here to guide you through the process.

Auction process

The beauty of auctions; from a sellers’ perspective, is assurance of the sale being agreed and a buyer contractually tied to purchase the property at the day of the auction. For a buyer, there is also an attraction to a quick buying process which avoids lengthy chains. Sellers will have their solicitor prepare the contract pack in advance of the auction so that buyers may instruct their solicitors to review these documents in readiness for the bidding.
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On the day of the auction if the buyer is successful in their bid they will be asked to produce a deposit, usually 10% of the purchase price, and exchange contracts. Completion is then set for a period of time after the auction, usually 20-28 days.

Maitland Walker have experience in drafting auction packs for sellers and reviewing auction packs for buyers. If you are thinking of buying or selling a property at auction please give our conveyancing department a call for further information and a bespoke fee estimate
  • "The whole process from start to finish was excellent and any questions that we had were answered promptly and clearly. We were treated with respect and understanding. Thoroughly recommend your service as all the team have been excellent."
  • "Excellent and efficient service. Kept me updated and handled well throughout."

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