The catalogue for the UK’s first French property auction is now available
The first auction of French property in the UK will take place at The France Show 2015. The French Property Auction’s inaugural event will be held on Saturday 24 January, and over 60 properties will be auctioned in this exclusive live event.
“Auction has become an increasingly popular and familiar method of buying and selling property in the UK,” says chartered surveyor Nick Green, director of the French Property Auction. “To meet these changing demands we have developed a unique and innovative auction solution to enable French property professionals to access this exciting method of sale in the UK.”
The price of the property is agreed at the fall of the hammer and a non-refundable administration fee is paid. The buyer is then allowed to complete the purchase, in accordance with French property law, and the bid is subject to a seven-day cooling-off period, during which the buyer can withdraw from the purchase if they change their mind. After the expiration of the cooling-off period the sale becomes legally binding, and the notaire will conclude the transaction in the usual way.