The short answer, yes. A solicitor or conveyancer plays an even more important role when buying property through an auction. All the legal checks need to be done before the auction and bidding process, which means you need an experience expert before and after the auction to be able to complete.

For example, it can be a false economy if you don’t carry out a title report or survey on the desired property before an auction. Admittedly you would have to pay for these whether or not you were successful in bidding for the property, but many buyers who don’t get title and survey report end up buying a property with a bad title. This can mean it will be impossible to get a mortgage on the property.

There are many elements to an auction that you will have to consider, which is why you need the expertise of a specialist solicitor or conveyancer. Some of the practical details include:

1. Arrange an inspection or preferably a survey of the properties you are interested in prior to auction
2. Check comparable property prices of the same type of property in similar area as recently as possible
3. Double check whether VAT is payable on the purchase with a commercial property
4. Ensure that you have a 10% deposit available in clear funds
5. Decide whether extra searches are advisable and if any of the information or searches provided by the seller are out of date
6. Consider whether replies to enquiries are satisfactory or are there areas of concern
7. Ensure funds are available to complete, if a mortgage needed, and whether the survey results are important and the mortgage in principle is enough
8. If the property is tenanted check all paperwork and status of tenancy and underlying tenancy documents

This is by no means and exhaustive list of considerations and we strongly advise you to contact us to talk through the auction process.

An auction pack contains all the documents relating to the property that is being auctioned and should include (where necessary):

1. Special conditions of sale
2. Title deeds
3. Leases
4. Office copy entries
5. Searches
6. Replies to pre-contract enquiries

It is vital that the pack and documents are reviewed by an experienced solicitor or conveyancer so that they can check for any potential problems. For example, if there are any environmental concerns or boundary issues.

This may seem unnecessary when you do not own the property, but it can prove crucial in helping you to avoid or make you aware of a costly problem before you buy the property.

The main difference between conventional conveyancing and an auction is the speed at which the contracts are exchanged.

In a typical home buying and selling process, a buyer’s offer can be accepted but contracts usually won’t be exchanged for weeks or months. This gives the buyer or seller a chance to change their mind.

When an auction bid or offer is accepted, the contract is immediately concluded. The sale is complete and all parties our bound by the contract – you cannot back out.

The buyer must pay a deposit, usually 10 percent, and have the balance ready to pay within 28 days.

In practical terms this means that when buying at auction, your legal work must be done before the auction day, which is why you need to instruct an experienced auction solicitor or conveyancer before making any bid.

Yes, you will have to pay stamp duty and factory in other costs including mortgage costs and fees for professional services, such as a surveyor and conveyancing. You will also need to pay on the day of the auction a deposit (usually 10%) and reservation fees.