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The 7 Step Guide to Auctions is designed to help anyone considering buying a property at auction. It highlights the risks involved in buying a property at auction. It makes you aware of what to look out for when buying a home at auction.

Please do not hesitate to contact us to discuss any auction related questions, we offer a FREE CONSULTATION, just use this link to arrange an appointment: https://creativelegals.co.uk/auction-legal-pack/

0:00 Introductory video
0:43 Buying a property at auction
0:56 Ways to buy a property at auction
1:09 What are the risks of buying a property at auction?
02:10 Can you buy a property with a mortgage at auction?
04:50 Do you need cash to buy a house at auction?
05:09 What is included in an auction legal package?
08:56 What ID do you need for an auction
09:23 When do you take out insurance when buying a property?
10:59 What does the buyer's property research reveal in the conveyancing process?
13:23 What exactly is due diligence
15:37 When does the contract at the auction become legally binding?
16: 08 When will the completion take place
16:29 Can a house sale fail after the contract has been signed?

What is an auction? How do you buy at an auction? Why do people buy properties at auction? Do you need cash to buy a property at an auction? Can you buy a property at an auction with a mortgage? Can first time buyers buy at an auction? What happens if the mortgage funds are not available on the day of closing? What happens if the seller does not complete the purchase on the closing date? What happens if the buyer does not complete the purchase? These are some of the many questions that are asked in relation to buying a property at an auction. This video helps answer most of these questions.

It is often thought that buying or selling property at auction is complicated and risky and should only be attempted by experienced property investors. I hope to help bring clarity to this matter. Of course, buying at auction is risky. Particularly if you end up without the money to complete the purchase, or if you encounter more onerous obligations with the property or the others than expected. However, these days auctions are a popular way for many people to move, find a home improvement project or make a rental investment.

It's important to know what you're getting into, which is why it's important to have a specialized team of auction lawyers like Creative Legals as part of your power team. Come join us for the chat and ask any questions you have in the comments.

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