Buying at Property Auction - Your Legal Checklist

Buying at Property Auction - Your Legal Checklist
20th March 2008

By Rob Best

Right up front, I'm going to give you the two best bits of advice possible when it comes to dealing with the legal side of buying property at auction:

Caveat Emptor - or, in English, Buyer Beware!
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Let's look into each one of these in more depth.

Caveat Emptor

The vendor of any property is not allowed to misrepresent the property in any way. However, they are not under too much obligation to tell you everything about it, either. The introduction of HIPs (Home Information Packs), that are required for auction properties as well as those being sold by private treaty, has improved this situation slightly, but you still need to be careful. You have very littler comeback once the gavel has fallen.

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