Information Pack for land auction

I'm interested in buying 3.5 acres of agricultural land. The auction is on Thursday 4th May and the vendor's solicitor has provided an information pack.

I have never bought land at auction before and my solicitor has advised me that they should look over the information pack. This seemed like a good idea until they told me the bill for doing so would be £1200.

I gather the information pack contains title deeds, land registry maps and copies of searches which have been done. It seems to me that £1200 is a lot of money to check someone else's work.

From what I've read it seems that the vendor's solicitor has a legal obligation to fairly represent the property. Would it therefore be reasonable to purchase the land on the basis of the information provided by them? Or should I fork out to have my own solicitor preform the same checks?

I can't imagine everyone at the auction will have paid a grand to have the information provided checked over. But nor do I want to be irresponsible and have a nasty surprise. So what to do?

Any advice gratefully received.
 

franklin

New Member
Get a different solicitor?

It is pointless for you to do your own searches / check the title, and there is most likely the clause in the aution for the purchasor to pay the vendor for the searches done in the pack. What you are paying for is an insured professional to point out anything more exciting to you to avoid future cost / risk.

As with all, it is a case of buyer beware, but they will provide a) everything you would expect to need and b) your solicitor can always raise any other queries.

I am presuming that the £1200 is actually £1000 + VAT, so thats about 6 hours of solicitor work. Having recently sold land at auction, I think that is not excessive but then if you buy it remember that you are signing the contract on the night ie there is naff all else for the solicitor to do. £1000 plus vat for doing the whole purchase is not far out, so in a way this is part of the benefit of an aution in that it weeds out the "tyre kickers". If you get it, I wouldnt expect to have to pay any more in legal costs bar any statutory fees.
 

chaffcutter

Moderator
Arable Farmer
Location
S. Staffs
IMO if you read through it carefully if there are any big traps you will easily find them. The most likely things to be aware of seem to be covenants in favour of the existing owner should the land be developed in future, sometimes these go back to previous owners as well. Are there any option agreements in place, are there rights of way in favour of others across it, have you got an inaliable right of access etc?

No doubt there are plenty more possibilities but these are a few to lookout for. Remember on the fall of the hammer there is no going back !
 

Bee+

New Member
Thank you for the replies. That's very helpful.

The solicitor told me she charges £115 per hour which sounds like par for the course. At 10h00 this morning she received the information pack and told me she'd have her report ready for tomorrow morning and the charge would be £1000 + VAT

£1000 seems OK to complete the purchase but ridiculously expensive to look at the contract and advise whether there's anything untoward that needs closer inspection.

I've been somewhat reassured by the partner at the auctioneering firm who has advised me that the deeds, searches etc have been conducted by a reputable firm and that there's nothing untoward.

I expect I'll know some of the other interested parties. I guess I'll just take my chances and assume that someone who is bidding will have spotted a problem if there is one.

I've looked at the searches and the answer to all the questions is 'none'

Documents show that the vendors have the right to sell.

I guess I'll just go for it. We're all in the same boat. If we win the auction we are exchanging contracts on the night.

Thanks all.
 

Bee+

New Member
The one documrnt which stands out is an agreement which relates to mains water which crosses the land,. It grants the neighbour the right to repair the pipe and make good.

There are no covenants related to development. There are no rights of way.
 

Bee+

New Member
I agree, the hourly rate wasn't excessive. But I'm not sure that the task warranted nearly nine hours work - and I was promised it by the next morning.
 
I agree, the hourly rate wasn't excessive. But I'm not sure that the task warranted nearly nine hours work - and I was promised it by the next morning.

Slow reader.

Was in the same situation myself, sent the hefty legal pack to solicitor they checked it over and did a written report. I didn't purchase the property and the solicitor didn't charge for looking and compiling the report.
 
Last lot we bought was 6 acre, got an extortionate quote so decided to do it ourselves. The sellers solicitors weren't overly happy but like you said, it was sold via auction, vendors had appointed solicitors so we took the gamble! It was as easy, read over the documents and googled a few little points. We delivered documents by hand as their solicitors were only a few miles away and then a trip to Hull to the land registry office with our ID etc and it was all done! Wouldnt use a solicitor in future either, google Linda Box Wakefield Solicitor, she has caused one hell of a mess for my friend! If you want anything doing right, do it yourself!
 

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