Buying a house is likely to be the most important investment that you ever make. With vendors seeking to exploit the market, auctions have become an increasingly popular method of sale.
Before attending an auction there are a number of things that you should do and which we consider imperative before purchasing any property at an auction. This includes:
If you are successful at the auction in purchasing the property you will not have the benefit of any cooling off period as provided for under the current conveyancing laws in New South Wales. Therefore it is imperative that you be well prepared for the auction and have undertaken, at the very least, the steps set out above.
There will be a cost in properly preparing for an auction. However the costs of same will be completely outweighed by the costs that you could incur if something went wrong. Being prepared for an auction will provide that peace of mind that you need when undertaking probably the largest investment of your life.
Brydens Lawyers are the conveyancing experts and can provide expert legal advice and representation in reviewing all contracts and acting for both purchaser and vendor in connection with all conveyancing transactions.
Brydens Lawyers – protecting your future.