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The hammer falling at an public sale signifies the settlement of a binding contract between the customer and the vendor. Most auctioneers will not enable the reserve price to be set too high so as to give the property a good probability of promoting. Earlier than the public sale, you have to additionally instruct your solicitor or conveyancer to prepare a contract and particulars of any particular situations of the sale. Possibly do a web search in the space, and see which property site comes up first.
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