Why are Auction Legal Packs Important?
Auction legal packs are essential documents in an auction pack. They provide prospective purchasers in London with the information they need to understand the property before entering into a legally binding agreement with the seller. Failure to provide a comprehensive auction legal pack may deter buyers in London from making a bid due to consternation and concern surrounding the uncertain nature of what may affect the property.
In our extensive experience as specialist auction solicitors preparing auction legal packs in London frequently, we know that prompt preparation of a comprehensive legal pack will help maximize selling exposure. It equips buyers in London with all the information they need to make an informed purchase decision.
Who prepares the auction legal pack?
Auction legal packs in London are ordinarily prepared by the seller’s solicitors and sent to the auction house. The legal packs will then be available online, and hard copies of the legal pack are usually available in the auction room or can be provided upon request.
Our team of of auction specialist lawyers in London can provide you with a FIXED FEE to prepare the best auction legal pack for you if you are selling at an auction in London. You may also qualify for our NO SALE, NO FEE auction legal pack service. Simply click on this link to request a quote.
What is contained in an auction legal pack?
The key documents in a legal pack in London are:
How long does it take to prepare an auction legal pack in London?
It depends. Quite a few factors will need to be taken into account to include the tenure of the property and the locality of the property. For example, if the property is freehold, we can complete an auction pack within one week. This could take longer depending on how quickly we receive the search results. The excellent relationship with our search providers puts us in a better position to get expedited service.
Auction legal pack timescales in London for leasehold properties are likely to take slightly longer depending on how quickly we receive the leasehold management pack. Some management companies are brilliant and can provide the required information expeditiously. The absence of expediency can inadvertently delay the auction legal pack process.
Do I need to get the auction legal pack reviewed by solicitors if I buy a property at auction in London?
It is not obligatory, but it is imperative to get a specialist auction solicitor to help you review the auction pack before bidding in London. An experienced auction solicitor who deals with auctions frequently should be able to case an eagle eye over the legal pack and help you avoid the common auction pitfalls and hidden charges. Either way, please read and understand the legal pack, particularly the special conditions, as they will include critical information such as additional payments, additional obligations, and completion dates.
Our team of auction specialist lawyers in London can provide you with a FIXED FEE to review an urgent auction pack and identify the risks for you. We pride ourselves on providing a FASTER, SMARTER and BETTER service in London. We can offer a 24–72-hour turnaround from the point of receipt of the pack post client onboarding.
Our detailed legal auction pack review in London will help:
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Whether you are planning to sell or buy at an Auction in London, we can prepare the Auction Legal Pack for you in no time