If you are buying from an auction as a cash purchaser or requiring a mortgage for the purpose you could be at risk if the property contains structural problems.
This is one reason why a property could be offered at an auction.
If a mortgage is required a valuation survey will be carried out and if structural issues are found the mortgagee will request a structural survey.
If structural defects are identified - these may prevent a mortgage being granted.
Be prepared and have a piece of mind survey prior to the auction.
If you fail to meet with the auction requirements and cannot complete you could lose up 10% of your purchase price.
Be informed before you bid - its a sound investment
A piece of mind survey is cheap compared to the end financial outlay and can be carried out with you accompanying on the survey - so you have advice on hand from an expert.
Please contact us for more information.