When selling through auction it is the responsibility of the chosen auction house to instruct the creation of a property or land ‘legal pack.’
Welcome to Connect UK’s Auction Academy – Here to answer all your property auction questions.
A legal pack is simply a collaboration of important documents of the property or land that is going to be sold.
The pack is prepared by the sellers’ solicitors and contains all the necessary and legal documentation like the Title Deeds, Special Conditions of Sale, Land Registry Search, Leases and other pertinent documents.
Many people worry that the legal pack is some sort of specific, auction only need but in fact this pack is exactly the same as what is prepared through a private treaty sale.
The only difference between the two, is that when selling via auction the pack is made before auction day and when by private treaty the pack is made once an offer has been accepted.
Doesn’t sound so scary now, right?
Sellers – Yes there is a fee for the construction of this legal document however it is no different than a private treaty sale as the cost would be included in your solicitor fees!
Buyers – It is advised that you read the corresponding property or land legal pack before committing to any lot purchase. Many request a legal pack after viewing a property which is the point they decide the lot becomes a potential buy but they will not move forward in their intent to purchase until they have read through the legal pack documents. It is also recommended that a solicitor reviews the pack, for your piece of mind.
So let’s recap – a legal pack is just a term for all the legal documents that accompany the sale of the property or land being sold. Simple!
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