Quick answer
At a traditional auction you are legally committed when the hammer falls, so the legal work comes first. Send us the auction legal pack before you bid. We read it, tell you about any problems and extra costs, and then work to complete your purchase by the date in the contract.
Our instant quote does not cover auction purchases, so call either office or ask us to call you back for a written quote.
Bidding at auction?
Send us the legal pack before auction day. Call us for a written quote.
Get my quoteOn this page
What we do for you
- Read the auction legal pack before you bid and report on it in plain English
- Raise questions with the seller's solicitor and order searches the pack does not include
- Point out every extra cost the special conditions put on the buyer
- Tell you the completion date, so your money or mortgage can be ready in time
- Complete the purchase, pay any Stamp Duty and register you as the owner at HM Land Registry
What we check in the legal pack
The auctioneer usually publishes a legal pack before the auction. We check:
- The title: who owns the property, what land is included, and any rights, restrictions or charges on it.
- The special conditions of sale: the completion date, the deposit, and any costs you must pay on top of the price.
- The searches: local authority, drainage and environmental results, or what is missing if the pack has none.
- The lease, for a flat: the years left, the ground rent and the service charge.
- Planning and building work: whether the paperwork for past work is there.
Buying a flat with a short lease? See our lease extension solicitors page before you bid.
Before you bid
- Send us the legal pack as early as you can, so there is time to ask questions
- Make sure the deposit and the auctioneer's fee can be paid on the day
- If you are borrowing, check with your lender that the money can be ready by the completion date
- Consider a survey: at auction you buy the property as it is
- Read any addendum the auctioneer issues on the day: it can change the terms
On auction day and after
- The hammer fallsContracts exchanged
At a traditional auction you are bound to buy from that moment. You usually pay a deposit of 10% on the day, plus the auctioneer's own fee.
- Straight awayInsurance
The property is usually at your risk from exchange, so arrange buildings insurance from that day.
- By the contract dateCompletion
The contract sets the completion date. It is often around 20 working days or 28 days after the auction. We send the rest of the money and you get the keys.
- After completionTax and registration
We file the Stamp Duty return and pay any tax due within 14 days, then register you as the owner at HM Land Registry.
A standard purchase typically takes 8 to 10 weeks from instruction to completion for a freehold home, or 10 to 12 weeks for a leasehold one, depending on the chain, the searches and your lender. An auction contract usually gives much less time, which is why the checks happen before you bid. If you miss the completion date, you can lose your deposit and may have to pay the seller's losses.
Buying to let out? Our buy-to-let conveyancing page explains the lender and lease checks that apply.
What it costs
| Our legal fee | A written quote before work starts. Call us, or ask us to call you back. |
|---|---|
| VAT | 20% on our fee, shown in your quote |
| Third-party costs (disbursements) | Listed separately in your quote, for example any searches we order |
| Costs set by the auction | The auctioneer's buyer's fee, and anything the special conditions make the buyer pay. We list them when we read the pack. |
How our charges work, including our hourly rates, is set out on our fees page.
Set by the government, shown separately: Stamp Duty Land Tax and the HM Land Registry fee are not part of our fee. See GOV.UK for the Stamp Duty rates.
Who you can talk to
What clients say
Where we act
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Leicester office 3rd Floor, St George's House, 6 St George's Way, Leicester LE1 1QZ 0116 393 0334
Conveyancing in Leicester
Questions people ask about buying at auction
When should I contact a solicitor about an auction property?
As soon as you are thinking of bidding, and before auction day. The legal pack is usually available from the auctioneer in advance. Send it to us early, so there is time to read it, raise questions with the seller and get any searches that are missing.
What is in an auction legal pack?
Usually the title register and plan, the special conditions of sale, searches, the seller's replies to standard questions and, for a flat, the lease and service charge information. Packs vary, and some leave out searches. We tell you what is missing and what that means for you.
Am I committed when the hammer falls?
At a traditional auction, yes. Contracts are exchanged when the hammer falls, you pay the deposit that day, and you must complete by the date in the contract. If you cannot complete, you can lose your deposit and may have to pay the seller's losses. That is why the legal pack should be checked before you bid.
What if I do not win, or decide not to bid?
Then there is no contract to complete. Your written quote sets out what you pay for the work done on the legal pack. After the hammer falls it is different: you are bound to buy, and if you do not complete you can lose your deposit and may have to pay the seller's losses.
How long do I have to complete after an auction?
The contract sets the date. It is often around 20 working days or 28 days after a traditional auction, but some auctions set a different period. Under the modern method of auction, you usually have a set time to exchange and then to complete. We read the conditions and tell you the date before you bid.
Can I get a mortgage for an auction property?
Sometimes, but check with your lender before you bid. A mortgage has to be offered and ready in time to complete by the contract date, and the lender's valuation may not match the price you pay. We cannot advise on finance, but we can tell you the completion date and any conditions in the pack that a lender is likely to ask about.
What extra costs can there be at auction?
The special conditions can make the buyer pay costs a buyer would not usually pay, such as the seller's legal fees, the cost of the searches or arrears of service charge or ground rent. The auctioneer usually charges its own buyer's fee as well, and under the modern method of auction there is often a non-refundable reservation fee. We list every extra cost we find in the pack, so you can allow for it in your bid.
How much do you charge for an auction purchase?
Call either office or ask us to call you back for a written quote before work starts. VAT is added to our fee, and third-party costs, such as searches and the HM Land Registry fee, are listed separately. Stamp Duty Land Tax is not part of our fee.
Helpful guides
Bidding at auction soon? Send us the legal pack, or call either office for a written quote.