Western Mail Property Doctor Column #4
By admin
Issued on behalf of Emyr Pierce Solicitors
I am considering buying a house at auction. What do I need to be aware of and what preparation do I need to make?
Buy a property at auction and it’s a legal commitment from the moment the hammer falls and your bid is accepted. There’s no turning back. So, if you’re looking to buy this way – and you can still pick up a bargain at auction – then the key is to be well prepared long before you start to raise your hand and make your bids. Unlike an ordinary house transaction, you have to undertake all the preliminary work before the auction date. In other words, you need to inspect the property, carry out the surveys and any local searches, instructing a solicitor to conduct all these very necessary investigations for you so when you turn up at the auction and your bid is accepted you are confident you’re not buying a ‘pup’. This preparation work is absolutely crucial. You can’t do these things afterwards because as the auctioneer’s gavel falls it’s already too late. Your legal obligation starts the moment that hammer comes down. Incredibly, some people still turn up at auction, get carried away, make a successful bid and end up having to worry about the implications later of buying a property they know little about. Instruct a solicitor to carry out all those preliminary investigations at least a month before the auction takes place and you’ll at least feel confident in the knowledge that it’s worth bidding for in the first place. You will usually have 28 days from the date of auction in which to complete and supply the balance of 90 per cent of the purchase price (having paid a 10 per cent deposit on auction day). So, either get your finance sorted in advance or ensure you have the full funds available in order to settle within 28 days.
I’m looking to buy a new property which has a shared driveway. But what implications could this have for me?
Shared driveways are increasingly being used as a means to fit in more plots on new developments. The ownership of the driveway will be allocated between those people using it, with each house-owner having the right to use the shared part of the drive, although they are not allowed to obstruct it. In other words you can’t park on it – or allow your friends and family to park on it if they’re visiting you.
Each owner has an obligation to maintain and repair the driveway which can lead to potential problems over what needs doing and when, although you will at least be sharing any costs. But anything that’s shared in property can be a source of dispute between neighbours. I have on occasion been instructed to act for the owners of shared drives whose access in and out of their property was being regularly obstructed by one of the other owners. So you need to be aware of the implications of sharing a driveway. While the section directly outside your property may remain private, the rest of it is communal and has to be readily available for use by all the other owners at all times.
Emyr Pierce is Managing Partner of Emyr Pierce Solicitors in Rhiwbina, Cardiff, Western Mail Conveyancer of the Year, specialising in property conveyancing. Contact www.emyrpierce.co.uk or email law@emyrpierce.co.uk
