Dangers of buying at Auction - is there any come back?
This is my first posting, my apologies if it is in the wrong category.
I am new to property investment, I recently purchased a property at a national property auction after reading the particulars and viewing the property.
Having bought the property I have noticed severe structural problems with the property, mainly subsidence. The neighbours tell me the vendor had been struggling to sell thi for years because of this.
Also whilst there was clear evidence of rising damp in the property, fresh plastering around skirting boards and a few brand new skirting boards gave the impression that DPC had been recently carried out. However, I have taken out at cost a full Damp report which confirms that no DPC has been done.
The Auctioneers particulars made no mention of these 2 points nor did the agent when we viewed the property. Since there was only 1 day day's block viewing there was no opportunity to have any surveys done ahead of the auction.
My question is, do we have any recourse, either with the Auctioneers or the vendors because these defects, which in our view, are significant were not mentioned to prospective buyers before the or during the auction?
Some people have suggested I take the vendor to court for misrepresentation. Some have also suggested taking action against my own solicitor for not explaining things to me fully before hand.
Any advice would be useful.
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