Why do you need a specialist solicitor when buying at auction?
Auction conveyancing follows a different process from usual residential property purchases, so choosing a solicitor who specialises in this area is essential.
Our auction solicitors at Davisons can advise you on all the important aspects of bidding at auction, helping to ensure that you make a sound investment. Any mistakes in auction conveyancing can mean you buy a property with significant problems. For example, there may be high ground rent to pay, or the property may have been extended or altered without planning permission.
We can take care of all the legal practicalities of the sale, from checking property ownership to arranging surveys and property searches. Our solicitors will thoroughly review the auction legal pack provided by the seller’s solicitors to make sure your interests are protected. We will make sure you are aware of any potential difficulties with the property or any sale conditions that may impact your investment.
Our friendly and knowledgeable auction conveyancing solicitors will give you all the guidance you need to enter an auction bid with confidence.
What is in your auction legal pack?
An auction legal pack, which can run into hundreds of pages, is prepared by the seller’s solicitor. The pack is usually available a few weeks before the property auction. It usually contains copies of the following documents:
- Energy Performance Certificate (EPC)
- Fixtures and fittings form
- Office copy entries from the Land Registry
- Planning permission documents
- Responses to conveyancing searches
- Property searches
- Special conditions of sale
- Title deed
It is often the case that properties are put up for auction because they are difficult to sell on the open market due to legal difficulties. The legal pack will often detail these problems, so it is crucial that an experienced auction solicitor checks it thoroughly. Your solicitor will check the small print for hidden covenants and loopholes.
Mistakes with the auction legal pack can mean you pay more for a property than it is worth. It can also mean you are stuck with a property you cannot sell without making a significant loss.