Bought at auction - solicitors delays....?

electric_comperella

Hi All,

purchased a property at auction for the first time, the completion date should be this week but my sellers solicitor is struggling to get in touch with his client, so my solicitor is struggling to get the work done in time.

Spoke with the auction house who advised to talk to the solicitor but he's already gone home....

what's gonna happen if it doesn't complete on the 28th day?

any advice or experience of this welcome

thanks

Ella

anselld

If you fail to complete the vendor will serve "notice to complete" and you will be liable for any additional costs involved.

There is very little reason for the vendors solicitor or vendor to be doing much. It is down to your solicitor to prepare for completion based on the available legal pack.

You need to make sure your solicitor is getting on with it rather than dreaming up further "enquiries" which are not relevant. The legal pack is-what-it-is at the point the hammer came down.

AdrianC

What's your solicitor actually trying to do that needs the seller's engagement?


In normal purchase terms, you exchanged contracts when the hammer fell, with a 28 day completion. All you need to do is follow through with the money. Everything else should have been done before the auction, or taken on face value from the legal pack.

electric_comperella

will serve a notice to complete or may serve a notice to complete?

I will be speaking to the solicitor to find out what he's waiting on in the morning - will keep you posted - thanks for the assistance

davidmcn

electric_comperella wrote: »

what's gonna happen if it doesn't complete on the 28th day?

That'll be determined by the terms of the auction, which we can't see from here. Presumably you got advice on those from your solicitor before you made any bids? There will be some sort of provisions about what happens if the seller fails to fulfill their side of the bargain.

electric_comperella

thanks david - will find out tomorrow - don't mind it being delayed tbh as long as I don't get charged for the privilege of their client ignoring them.

HouseBuyer77

Was this a normal auction, or the so-called 'modern auction method'? The latter involves a non-refundable fee when the hammer drops but you are able to pull out of the sale within the first 28 days (you haven't actually exchanged when the hammer falls in this method).

electric_comperella

normal auction

martindow

Why is the solicitor raising queries? There is no point as you are committed to buying in any case. Are you buying using a mortgage?

davidmcn

martindow wrote: »

Why is the solicitor raising queries? There is no point as you are committed to buying in any case. Are you buying using a mortgage?

The OP hasn't said they were "raising queries" as such. Even if they're not, the seller still needs to co-operate in order to complete the sale.