Hello,
There is an apartment that we like going up for auction in a few weeks. It is out of our price range by quite a bit. Being a little bit optimistic, I want to go to the auction just in case. The vendor is apparently an elderly man who has moved interstate already so maybe there's a chance he could be eager to sell. How risky is it for us to bid without having the contract checked out beforehand? It is an apartment so would be less risky than buying a house in the same way. I don't want to pay our lawyer $250 to look at it when in all probability, we likely won't get it. We have a "back up" property in mind if we don't get it.
Thoughts?
There is an apartment that we like going up for auction in a few weeks. It is out of our price range by quite a bit. Being a little bit optimistic, I want to go to the auction just in case. The vendor is apparently an elderly man who has moved interstate already so maybe there's a chance he could be eager to sell. How risky is it for us to bid without having the contract checked out beforehand? It is an apartment so would be less risky than buying a house in the same way. I don't want to pay our lawyer $250 to look at it when in all probability, we likely won't get it. We have a "back up" property in mind if we don't get it.
Thoughts?