When you are buying or selling land or property at an auction, although your ‘Lot’ may take a matter of seconds to be won, if you are to be successful in the long run, planning and effort is required before and after the gavel falls.
Auction Essentials brings together market leading professionals from the auction world, use their skills and knowledge to help make the right decisions and build a successful portfolio.
Upon the exchange of contracts, you often gain an insurable interest in your newly acquired property. So although you have not completed, it comes ‘on risk’, meaning that you have the responsibility to insure it immediately under the terms of the auctioneer’s conditions of sale. To cover this liability you will need to find an insurer that can provide same day cover.
Bickers Insurance Service are a UK based insurance brokers, specialising in property insurance. When the hammer drops, you need cover immediately, so our webquote facility is available 24/7 for quotes and instant cover.
When you buy a property at /auction, it is often unoccupied for a period whilst works are completed. If this isn’t disclosed to your insurer, your policy could be void, rendering it useless in the event of a claim. Be sure to obtain the cover you need, by buying a policy designed specifically for your situation.
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