Business
GOING GOING GONE!
Ricardo Mapp, Head of Conveyancing at Grant Saw Solicitors LLP explores the world of auction purchases
I
n the current economic climate everybody is looking for a bargain.
Property Auctions are increasingly catching the interest of the private buyer looking for a new home
or an investment. Auctions are no longer simply the playgrounds for investors and corporate property companies.
However, if you are new to the world of auctions
there maybe a few points worthy of serious consideration:
• To bid at an auction you usually need a minimum 10% deposit immediately available. • You will usually be expected to complete and
pay for your successful bid 28 days after the auction (although the timescale may vary). • You will be expected to have the balance of your purchase funding in place before the completion date, otherwise you may end up losing your deposit and be sued for breach of contract. • You need to investigate and possibly view the property ahead of the auction to be satisfi ed it is suitable for your purposes. • It is usually possible to have your solicitor view the sales package ahead of the auction to check there are no problems in the title which may well have given rise to the property being sold at auction. • It is not uncommon to fi nd the small print means you are paying the seller’s legal fees and commission costs.
It is usually possible to have your solicitor view the sales package ahead of the auction to check there
are no problems in the title which may well have given rise to the property being sold at auction
2012
If you are considering an auction purchase ensure you have your funding in place in good time. Do not be complacent and think 28 days is plenty of time to arrange your fi nance. Use a specialist adviser and before you think of even bidding on a property take legal advice and get your solicitor to investigate the legal title of the property. You want to ensure that if nothing else the property can be sold again without great diffi culty. For more information contact Ricardo on 020 8858 6971 or
rm@grantsaw.co.uk.
Ashley McCall CEO with Yasin Ahmed, Ibrahlm Ahmed and Jubel Ahmed.
Two work-based learning charities merge
YOUNG PEOPLE IN THE EAST OF LONDON will get a boost in helping them get their fi rst step on the employment ladder as two of the regions top vocational training charities merge. Bexleyheath based ‘Skills for Growth’ and Stratford based ‘Landmark Training’, both long established charities with impressive success records, have just joined forces and will look to access a share of the £1bn additional funding recently announced by the Government for work based learning. The strengthened charity will continue to assist those ‘Not in Education, Employment or Training’ (NEET), by providing additional opportunities and courses, to be delivered across nine Local East of London Borough Councils, located north and south of the Thames. Working with a variety of local Councils, businesses, schools and youth & community groups, the merged charity will operate in the short term under the Skills for Growth/Landmark name delivering a diverse range of vocational training courses, plus providing advice and support. It currently has a Government funded budget approaching £4m, augmented by employer fi nancial contributions to training, and is headed by Ashley McCaul, the current CEO of Skills for Growth. Skills for Growth/Landmark,
379 - 381 High Street, Stratford, London E15 4QZ. 020 8221 0500
by Daphne Clifton President
What are you leaving behind in 2011 and taking with you in to 2012? This is a traditional and pretty sensible time of the year to think about how your business is going to grow and change in the next 12 months. How will you build ‘bench strength’ on your team and what you need to do more of to keep ahead of the game? From the Chamber of Commerce perspective, we’ve already started doing that, with particular emphasis on communication. What we know we’ll be bringing in to 2012 are more of our networking events. The feedback we receive is that our events are second to none, well-organised and welcoming. There’s no doubt
30 l
www.meridian-magazine.co.uk
about it that networking is work and with that in mind, dare I suggest that joining or renewing your Chamber membership should be a high priority in 2012 – the year the Olympics come to town!
The Chamber team and Board will do
all we can to make networking work for our members; the rest is up to you. We understand, because we run our own businesses, that the bottom line has to add up and the marketing budget must be spent wisely. The media would have us all running and hiding at the prospect of further recession but I don’t hold to that course of
action. When we share success, challenges and ideas it has a positive impact on leaders, teams and business. And where better to share your success and challenges than with other business leaders at the South East London Chamber of Commerce. I wish you and your teams a happy and prosperous New Year in 2012.
Daphne Clifton - President
At the South East London Chamber of Commerce we are constantly helping businesses grow, can we help you?
Call NOW 020 8317 3365 or
www.selondonchamber.org
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