You must read the legal pack.
Today, every property offered for sale at auction is accompanied by a legal pack which is prepared by the seller’s solicitors. These legal packs are available to download from the Auctioneers website prior to the auction via the Essential Information Group Auction software platform.
The documentation will generally consist of:
· Special Conditions of Sale
· The Contract
· Official Copy of Register of Title (Office Copy Entries) and supporting title documents
· Conveyancing Searches
· Leases (if applicable)
· Other related documents affecting the property, such as fixtures list, property forms and EPC
Auctioneers strongly recommend you inspect the legal packs for the properties you are interested in and if you are bidding for a Lot you will have been deemed to have read the Legal Pack, prior to placing your bid. There may be some additional cost that the seller is expecting the buyer to pay and these costs will be listed in the Special Conditions, so this is an extra reason why the Legal Pack must be read.
If a bid is successful, the buyer is legally bound to complete the purchase and can be fully responsible for all that matters that may come to light later. If a buyer is not completely happy with the information in the legal pack, the best advice is to make further enquiries and seek specialist advice before bidding.