Bridging Loan Auction
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Auction Bridging Finance
Auction Bridging Finance at auction has to be fast. Why? When you win the bid at auction you have just exchanged contracts and typically are required to complete the transaction within 4 weeks of the auction. That’s why bridging loan auctions with Madison Carter Finance are executed fast.
Bridging Finance Auction Property
Folks list their property at auction as it’s a faster way of trading out of the asset class. Bridging loans are a great form of Bridging finance auction property.
Property Auction Bridging Loan
We have the resources at hand to facilitate fast loans for property auction bridging loans. These type of transactions require a lot of commitment from all parties. That includes you, the borrower.
Buying a Property At Auction?
In this article we discuss the process of purchasing a property at auction.
First of all, look at the brochure from the auctioneers such as auction house london. This could be an online or physical brochure.
Then inspect the property and consider a survey in advance of the auction. If you are using a contractor to perform the construction works, then take them along as well.
Once you are happy with the property, the value, and costs in advance of the auction, then attend the auction with an idea of the maximum price you can pay for the property.
When you win the bid in the room, that is an exchange of contracts. You will need to complete the transition within 4 weeks of exchange.
This is why property purchasers at auction use bridging loans as they are fast and have non status lending capabilities.
You are legally bound to purchase the property or you risk losing your 10% deposit from exchange and are at risk of being sued for not completing the contract.
If you are purchasing a property at auction in London then be sure to check with us for funding.
Why you should use it
Purchasing a property at auction is an efficient way of acquiring a property. You don’t have to spend time, perhaps spending many months on end using search portals or speaking with Estate Agents or dealing with sellers who are not serious.
Who is it for
For people who want to avoid the private treaty method of selling a property. In fact, on occasion we have recommended that clients sell their property in an auction room instead of taking a bridging loan.
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Here is an example of an auction property that we maybe able to advise on.
It Might Seem Like Chaos But Its Art As Well As Science
The Financial Conduct Authority (FCA) may regulate your loan. If your loan is regulated we can deal with your application. It must be submitted through an FCA regulated intermediary.