What solicitor involvement do i need at a property auction ?

midnight68

Hi Mike,

I have my property up for auction and as far as I know (from a selling point of view) the solicitor does not have to attend the auction, they can operate over the phone or via the auction link online during the sale. I think they will attend if you request, but you will be paying their expenses and costs for time out of the office.

I agree with an earlier post that said get a solicitor to look through the legal pack prior to bidding.

ValHaller

mikeyw wrote: »

my dad in an architect so happy for him to confirm all is well on the legal pack before getting the solicitors involved.

While Dad's extra pair of eyes will be very useful, do not use him as a substitute for a solicitor! Not even pre bid. His expertise is different.

mikeyw

Anyone able to say roughly what i should be paying for a solicitor to read the legals and oversee the purchase after the auction....would £300-400 cover it ?

eddddy

mikeyw wrote: »

Anyone able to say roughly what i should be paying for a solicitor to read the legals and oversee the purchase after the auction....would £300-400 cover it ?

In the past, I've had quotes from solicitors of between £450 and £900 for perusing an auction legal pack and reporting back to me (including the search).

Then roughly the same again for the post-auction conveyancing (including Land Reg fees).

But solicitors fees vary greatly according to the affluence of their local area (as well as their level of expertise). If you are in an affluent area, try getting some quotes from solicitors further afield in less well-off areas.

chappers

As others have said if you are inexperienced at this get your Solicitor involved straight away. It's too late once the hammer falls thats the point of exchange.

Richard_Webster

Even a firm mortgage offer is no use if the solicitor cannot certify the title as mortgageable.

You must get a solicitor to look at the legal pack before th auction, particularly if you are relying on mortgage finance.

hazyjo

Stating the obvious... but it's very easy to get carried away after spending money beforehand, involving mortgage companies and solicitors, etc.

Set yourself a maximum bidding limit and stick to it. Or get someone else to attend/bid for you. Chances are, it'll go for over the guide price... Be prepared to lose it!

Jx