The short timetable of an auction can create urgency, but it should never replace due diligence. Investors should review the legal pack, title, searches, leases, occupational interests and special conditions with an appropriate solicitor before bidding.
Model the full acquisition
The headline price is only one part of the cost. Include tax, finance, professional fees, works, contingency, holding costs and the time required to deliver the intended strategy.
Independent legal, valuation, structural, tax and financial advice should be obtained. A successful bid creates a binding commitment, and neither planning outcomes nor future values are guaranteed.