Buying or selling a property at auction involves not only quick thinking but also quick processing by all parties.
Farleys’ residential property team have extensive experience of assisting both buyers and sellers of properties at auction and ensuring the sale goes through efficiently.
Legal Support for Selling your Property at Auction
In order to sell your property at auction, you must have a legal pack drawn up by a solicitor which should include:
Evidence of your title to the property (either Land Registry Office Copies for registered properties or an Epitome of Title for unregistered properties)
- Conveyancing searches
- Conditions of sale
- Completed property questionnaires
- Copy tenancy agreements/leases to which the property is subject
In our experience, the more information a seller can provide about a property as far in advance of the auction as possible, the better their chance of selling. Our residential property specialists can prepare a bespoke legal pack and explain the auction sale process to ensure you fully understand the legal procedures involved.
Once the gavel has gone down, we will ensure that all the relevant legal documents are signed and exchanged swiftly, hopefully ensuring a stress-free transaction.
Legal Support for Buying a Property at Auction
Once you have identified a property you are interested in bidding for at auction, it is advised you speak with a solicitor who can look over the property’s legal pack, before the auction takes place. They will identify any potential issues with the property so you do not get any nasty surprises after you have bought the property the property. Sometimes it can be easy to get carried away in the fast pace of an auction but having the documents reviewed by a solicitor beforehand will help you make an informed decision on setting a limit for your maximum bid.
Once you have been successful in your bid, we appreciate that the purchase must go through at some speed (often with a deadline of 28 days) so we will work at a pace that meets the deadline and ensure that you remain updated of the progress throughout.