Buying a Property at Auction

[Alfiembra]

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Thanks for the response.

If you don’t mind me asking, what element of risk worries you more, ending up with a dud property or is it the auction process where by you pay a deposit and are bound by it at the point of bidding?

If it’s the dud property that worries you would that not be the same whether you bought it at auction or the open market?

Yeah it’s the risk of not knowing if it’s a dud or not. When you are buying on the open market it’s up to you to find out as much as you can by means of surveys and viewings, or land registry issues which your solicitor would check. Even when you have bought you have a few days grace if things like the central heating is faulty that the seller has to make good