Alongside every property being sold by Auction House, you’ll see an invitation to download a legal pack. This is not a term which you will see when buying a house via the traditional estate agency route, so if you are new to auctions, it’s worth reading on below to understand what exactly a legal pack is and why it’s key when buying or selling property under the hammer.
What is a legal pack?
Legal packs are a set of documentation compiled in the run up to an auction and include everything you could need to know about a property for sale.
Unlike the sale of properties via an estate agent, legal packs are required for auction properties because of their fast-paced nature – with exchange taking place on the fall of the hammer and completion within the following 28 days. The legal pack ensures potential buyers have enough information about the property they are buying before they make the financial commitment of placing a bid or making an offer.
What’s included in a legal pack?
The elements of our legal packs will include the following:
- Articles of Roup - Formal document constituting the placement of the property within the auction
- Minute of Preference and Enactment – Document that represents that the auction sale has been agreed, and records the price and deposit (and together with the Articles of Roup, forms part of the contract of sale)
- Special Conditions of Sale - Includes pertinent information such as completion date, any additional disbursements that become payable on completion, and overage clauses
- General auction conditions
- Title sheet and plan
They may also include:
- Energy Performance Certificate (EPC) for commercial properties, where available
- Leases
- Tenancy Agreements
- Planning Permission Documentation
Who prepares the legal pack?
A solicitor will work closely with the seller to prepare the legal pack for their property for sale, ensuring all the information going into the pack is accurate.
Where can I find a copy of a property’s legal pack?
These are available to download via the property details page on our website. Simply click the 'Legal Pack' link on the property page which will take you to the Auction Passport system. When you first use the system, you will need to register. Once you have done this, you should receive notification of updates to the legal pack as and when additional documents are added.
Do I have to have the legal pack checked by a solicitor before bidding?
If you are not a regular auction buyer, we would strongly recommend that you seek advice from a solicitor before bidding. They will be able to cast an expert eye over the legal pack and provide you with professional advice. If you and/or your solicitor don’t read through it thoroughly, you may miss out on crucial information for your purchase and therefore come across some unexpected surprises along the way. For example, a property that has rental arrears.
It is not compulsory to have the legal pack checked by a solicitor, but most of those who bid at auction will appreciate the assurance of legal judgment.
Further details about our residential properties for sale can be found in the Home Report, which are available for most of our properties. Please contact us to request a copy of the Home Report for a property you are interested in.
For more information about buying or selling at auction, take a look at our guides here or call our team for free advice on 0141 339 4466.
