One thing that differentiates auctions from the traditional estate agency route is a property legal pack.
The word can sound intimidating, so we are here to break down what it means, what it’s for, and why you need it.
Legal packs are essentially the whole end property searches, but done up front. It prevents there being any nasty surprises for buyers.
This means when your property is live on the auction, potential buyers can download the legal pack and see exactly what your property is offering, warts and all. Because of this, once we have the final winning bid, there is no delay and contracts are exchanged immediately.
This is also one of the reasons buyers find auctions preferable. There are no concerns about finding property issues later on down the line. Everything is honest and transparent and they know what they are getting for their money.
In addition, because of this investors can often bid in confidence without even having the need to view the property.
This makes the process quicker, faster and simpler for all parties involved.
As legal packs are done up front, this can often mean an upfront charge for most auctions, however with Smart Auction UK, our solicitors work on a
no-sale no-fee basis, meaning that unless your property is sold by us, you will not be charged for the legal pack. They will also deal with all the conveyancing at the end, and because our referral solicitors are accustomed to auction time scales, they are quick, reliable, and work with us to our strict deadlines.
You can use any solicitor you want to conduct the legal pack. However 9 times out of the 10 the solicitors will want payment up front. This is why our recommended solicitors offer a no-sale no-fee service, as it is not always affordable to make up front payments for legal services before the sale is complete.
What is required for the legal pack?
If you have a tenant, you will need to supply documents such as your tenancy agreement and gas safety certificates. But all property searches will be carried out by the instructed solicitors, so the process is simple for you and completely stress and hassle-free. If you are not selling with a tenant, the process is even simpler.
Do I have to provide the solicitor with lots of paperwork and documentation?
Actually no, most things like titles and EPC's can be obtain through online channels, meaning the solicitors will only ask you for the necessary documentation. We keep the process as simple as possible for you, and Smart Auction UK will even correspond with your solicitor so we can get the ball rolling faster, meaning a quicker sale and purchase for everyone involved.
Why not enquire today and see what we could do for you?
If you want to learn about the modern online auction, see if auction is right for you here.
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With us, it’s totally free to sell – no hidden costs,
no commissions, no “optional extras”. We offer a complete service, including a free estate agent, to make your sale as smooth as possible. Our local experts will always be on hand to guide you and answer any questions.
All information is kept completely confidential and will only be used by our team to assess if we are a good fit.
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