This creates a legally binding agreement between both parties. There is then a limited period of time to formerly 'complete' transferring what is more commonly a significant asset, for a large sum of money.
The auction conveyancing process is therefore condensed into a matter of days rather than months. For both buyer and seller, this speed can prove to be extremely advantageous; however, it should not diminish the significance of the transaction – there are many considerations for both parties.
Land Registry - Registering land or property
Stamp Duty Land Tax
SDLT Calculator - This calculator can be used for property purchases that are:
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Auction Essentials – the professionals you need when buying or selling at auction
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