From a legal point of view, vendors of the property do not usually answer any written enquiries whatsoever about the property being sold. The standard auction conditions of sale prevent the buyer or his solicitor from raising any questions about the property once the hammer has fallen.
This ‘Glossary of Terms’ – those commonly used in the realm of property auctions, is monitored and updated regularly to remain a current reference point.
If there are any terms that you have come across which we have not included here and you are unclear about, please do get in touch and we will be happy to provide you with a clear explanation and add the new term to our list.
For more information on buying or selling at a property auction, have a read of our guide to buying at auction.