First you should ensure you have thoroughly inspected the property and instructed a surveyor to examine the site before you bid.
Get a copy of the sale pack from the agents. This will include legal information and details on the relevant searches.
You should ask a conveyancing solicitor to check the sale pack too. They will be able to confirm that the property is marketable.
If you are using a mortgage to purchase the property it is worth obtaining a mortgage in principle before bidding.
Each of these issues is very important.
Remember that you will be bound to a purchase when you sign a contract following success at the auction. If you do not check these issues then you could end up buying a property which will may well be difficult to sell in the future.
For help and legal advice when buying property at auction please contact Leon Kaye Solciitors Tel. 020 7 3228 2020 or 020 7095 0930
Leon Kaye Solicitors are members of The Law Society’s Conveyancing Quality Scheme.