I'm looking at my first buy-to-let property at auction; what are the typical hidden costs or legal pitfalls commonly associated with auction purchases that aren't immediately obvious?
Quick Answer
Auction property purchases come with specific hidden costs and legal risks like non-refundable deposits, rapid SDLT deadlines, and undisclosed property defects. Due diligence before bidding, particularly reviewing the legal pack, is crucial to identify potential liabilities.
About This Topic
Discover hidden costs and legal pitfalls of UK property auctions, including non-refundable deposits, rapid SDLT deadlines, and overlooked legal pack issues. From April 2025, account for up to 100% Council Tax premiums. Essential guide for buy-to-let investors.
This question is part of our Buying Your First Property category, providing expert guidance on UK property investment.
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