If you’re buying a property at auction, you’ll know the need for speed is vital. That’s why we provide a professional and thorough auction legal pack review service in just 24 hours.
How it works
The auction house will provide you with a legal pack for the property you’re interested in ahead of the auction. However, many of these packs can lack vital information you need to know as a buyer.
It’s vital you’re aware of all the risks associated with the property, because if your bid is the highest, you’ll be contractually bound to complete the purchase.
To ensure you know everything you need to know about a property before you start bidding, we provide a 24-hour auction legal pack review service that will put you ‘in-the-know’ and give you peace of mind.
Why choose us?
- Over 20 years’ experience of reviewing auction legal packs
- Arguably the fastest law firm when it comes to auction legal pack reviews
- We’ll help you avoid costly traps that could be ‘hiding’ in the small print
What’s included in our auction pack review service?
- Full review of all available paperwork
- Alerts to any missing documents or areas requiring more information
- A written report focusing on potential risks with the property
How much does an auction pack review service cost?
We provide a fast, great value for money service starting at £350 + VAT.
Auction legal pack checklist
We’ll ensure all of the following are in your auction pack and alert you if anything is missing:
- Contract of Sale
- Title Plan
- Register of Title
- Information about conveyancing searches
- Various information forms
- Management Information Pack (for leasehold properties only)
Get your auction legal pack reviewed in 24 hours
Buying at auction can be a great way of expanding your property portfolio. But be sure you’re ready with all the information you need about the place you want to bid for with our fast and efficient auction pack review service.
Get a Quote
Your time is valuable, and there is always a Need For Speed when it comes. Get an instant personalised quote in just three minutes. Remember, time is of the essence in the realm of auctions. So go ahead and get a quote at lightning speed.
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FAQs on Auction Legal Packs
What is an Auction Legal Pack?
A legal pack is the set of documentation prepared by the seller’s auction solicitor. These are available to download via the property details page on the website. A hard copy will usually be available in the auction room too. The usual elements of a legal pack are:
• Official Copy of Register of Title (Office Copy Entry)
• Land Registry and Local Searches
• Special Conditions of Sale
• Property Information Form
• Fixtures and Fittings Form
• Management Information
• Leases
• Tenancy Agreements
• Planning Permission Documentation
We recommend that you review the Auction legal pack. Your legal advisors must be able to help. Pay particular attention to the Special Conditions of Sale, which will include pertinent information about the property, including the completion date and additional disbursements payable.
Where can I find an Auction legal pack?
The legal packs will be available to all prospective buyers via the particular auctioneer’s website. To access them, simply click the link on the property details page which will take you to the Auction Passport system. When you first use most of the sites, you will need to register by providing your name and email address. Once you have done this, you should receive notification of updates to the auction legal pack as and when additional documents are added.
As an auction seller, do I need an auction solicitor
You will undoubtedly need a solicitor. You may want to appoint one as soon as you enter a property into an auction. It is best to choose a specialist auction solicitor such as Creative Legals because particular expertise is required. Your appointed auction solicitor will be responsible for creating the auction legal pack without delay and will handle the conveyancing of the sale after exchange through to completion. Creative Legals offer a FASTER, SMARTER and BETTER service.
As an auction purchaser, do I need a solicitor?
It is not imperative, but it is recommended. We advise buyers to consult an auction solicitor before the auction to advise on the content of the auction legal pack. Taking legal advice is part of your necessary due diligence before you bid. Regular auction buyers may feel experienced enough to do this work themselves, but we always recommend that you consult a solicitor.
If you are the successful purchaser, you will need to have your appointed solicitor’s details available for completion of the memorandum of sale.
If you are not a regular auction buyer, we would strongly recommend that you seek advice from a solicitor before bidding. They will be able to cast an expert eye over the auction legal pack and provide you with professional advice. Creative Legals offer this service at a fixed fee. Whilst it is not compulsory to have the auction legal pack checked by a solicitor, most of those who bid at auction will appreciate the assurance of a legal opinion.
Buyers will usually consult an auction solicitor or conveyancer before the auction to advise on the content of the legal pack. Taking legal advice is part of your necessary due diligence before you bid. Some regular auction buyers may feel experienced enough to do this work themselves, but we recommend that you do consult an auction solicitor. If required, do speak with the auctions team about who to use and what you need them to do.
If you are the successful purchaser, you will need to have your appointed solicitor’s details available for completion of the memorandum of sale.
What checks do I need to do for my due diligence?
It is imperative to carry out certain checks before buying an auction property. These checks include checks on the property, the property condition, remedial works required, property location and property suitability. They also include going through the auction legal pack including title documents, searches, special conditions of sale and other related papers. It is prudent to engage the services of an auction solicitor to check the auction legal pack and advise on their findings. Creative Legals specialist auction lawyers offer an excellent service at a FIXED FEE. They can check your auction legal pack and provide you with preliminary advice to help you bid with confidence.
Can a first-time buyer purchase a property at auction?
Yes. An increasing number of first-time buyers are now purchasing properties by way of auction.
We recommend that you get good understanding of the process first. You may want to attend an auction. Recognise that there is need for speed. You will need to work quickly when you find the property that you intend to purchase.
I am not a cash buyer. Can I buy a property at auction?
Yes, you can. However, there are real risks.
You will nearly always need to have the deposit monies, however if you have other property assets you may be able to borrow against these. Some purchasers buy with a traditional mortgage, but to do so you will need to ensure you choose a lender who can act quickly.
Can I buy at auction with a mortgage?
Yes, you can. But beware of the risks of failure to complete.
Your property will need to be mortgageable. You will need to have your mortgage in place and your mortgage offer to hand when you bid in the auction room. A decision in principle is a comfort, but it does not provide the certainty needed. It is not an unconditional offer. Remember that exchange of contracts takes place on the fall of the hammer. So, you will want to have your funding guaranteed before the bid to ensure it is available for completion, which is normally a few days later (28 days or less).
Creative Legals would be delighted to help you. We work with many auction houses across the country. They recommend us to their client because they know that our service is FASTER,SMARTER and BETTER. If you are an auction house, contact us today to see how we can help add value to your business.
We helped with numerous sellers save time and money. We have saved buyers getting into unattractive deals. Contact us today for a free consultation on how we can help you. Simply click the link below for a free consultation with one of our expert auction solicitors or call us on 0203 313 76 316.
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