What due diligence is absolutely essential before bidding on a residential property at a UK auction, especially for a first-time investor, and what red flags should I look out for in the legal pack?
Quick Answer
Before bidding at a UK property auction, essential due diligence includes thoroughly reviewing the legal pack, conducting a physical viewing, and researching local area comparable sales. Look out for abnormal clauses, restrictive covenants, and missing documentation in the legal pack, as these can derail your investment.
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Essential UK property auction due diligence for first-time investors. Learn to review legal packs, spot red flags, and avoid common pitfalls.
This question is part of our Buying Your First Property category, providing expert guidance on UK property investment.
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