What are the common costly hidden charges or unexpected fees I need to budget for when buying a residential property through a modern method of auction in the UK, beyond the hammer price and standard buyer's premium?
Quick Answer
Modern method of auction can include unexpected fees like reservation document charges, enhanced conveyancing fees, and indemnity policies, adding thousands to the property's cost beyond the hammer price and typical buyer's premium. Investors must thoroughly review legal packs.
About This Topic
Uncover hidden costs in modern method auction UK property purchases. Budget beyond hammer price for reservation fees, enhanced conveyancing, and 5% SDLT from April 2025 to avoid financial surprises.
This question is part of our Buying Your First Property category, providing expert guidance on UK property investment.
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