Auction Property Purchases

Why Auction Property Conveyancing is Different From a Standard Purchase

At a traditional property sale, there is time to carry out searches, raise enquiries and review contracts before exchange. At auction, exchange is immediate, the fall of the hammer is exchange of contracts. All legal due diligence must therefore be completed before you bid, not after. Completion must occur within 28 days for traditional auction sales. Failure to complete on time means losing your deposit and potential further liability.

What Our Solicitors Do Before You Bid

Pre-auction legal advice is essential and should be sought as soon as you identify a property you intend to bid on. Before auction day, our solicitors carry out the following:

• Reviewing the legal pack provided by the seller, including title deeds, special conditions of sale, and any existing tenancy agreements
• Advising on any title defects, restrictive covenants, rights of way, or other issues that could affect the property’s value or your intended use
• Identifying any unusual or onerous conditions in the auction contract
• Advising on whether searches should be obtained before auction day or whether search insurance is appropriate
• Reporting to you on all findings clearly before you bid, so there are no surprises

What We Do After the Hammer Falls

Once you have successfully bid, we manage the entire post-auction conveyancing process to meet your completion deadline. This includes all of the following.

• Managing the full conveyancing process to meet the 28-day completion deadline
• Carrying out any outstanding searches and co-ordinating with your mortgage lender if applicable
• Preparing completion statements and arranging transfer of funds on the completion date
• Registering your ownership at HM Land Registry post-completion

Why Choose Nelsons as Your Conveyancing Solicitors?

Nelsons is one of the largest residential property teams in the East Midlands. We hold the Law Society Conveyancing Quality Scheme (CQS) accreditation, are proud members of the Conveyancing Association, and were named Conveyancing Firm of the Year – Midlands at the LEAP Modern Law Conveyancing Awards 2024. Here is what that means for you in practice:

• Law Society CQS accredited: the recognised quality standard for residential conveyancing
• Conveyancing Firm of the Year: Midlands, LEAP Modern Law Conveyancing Awards 2024
• Member of the Conveyancing Association: committed to industry best-practice standards
• A Named Conveyancer Throughout: You’re assigned a dedicated conveyancer for your transaction, so you always know who to call and aren’t passed between departments.
• Local Knowledge, Three Office Locations: With offices in Derby, Leicester and Nottingham, we understand the local property markets we work in and offer face-to-face appointments where you’d prefer them to a phone call.
• Innovative Processes: most of the process can now be undertaken electronically including the use of electronic signatures for the
•  Contract and Transfer deed.

Speak to Our Conveyancing Solicitors

Ready to move forward, or want to discuss your situation before committing? Our residential property team in Derby, Nottingham and Leicester is here to help. Get auction property advice advice today on 0800 024 1976 or via our online enquiry form. No-obligation quotes available.