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.
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.