You will need to appoint a solicitor or licensed conveyancer while dealing with properties at auction. The solicitor will oversee the legal requirements and procedures during sale and purchase. The legal conveyancer or solicitor charges a legal fee for the service which includes producing a legal pack and process to exchange and completion on behalf of the seller. Also, for a buyer he will take care of the monetary process, stamp-duty land tax (SDLT) and registering title after purchase. They also ensure that everything is efficiently handled until completion, without any hassle or complications.
The legal fee constitutes a professional fee and research covering for bankruptcy, penalties, fixtures and damages, repair liability, environmental and location-specific local searches. Other legal expenditures may include mortgage fees, land registry fees, postage, photocopying, phone, bank charges, disbursements, Stamp Duty tax return, the cost of time spent dealing with your lender, professional indemnity contribution, and home insurance.
In addition to the cost of your solicitor or licensed conveyancer’s time, other legal expenditures may include mortgage fees, land registry fees, searches (e.g. bankruptcy, environmental, local authority), administration and communication costs, disbursements and Stamp Duty Land Tax.
Here, at just-sold.co.uk, we have partnered with a panel of professional and experienced solicitors on board, who have detailed knowledge and experience of the real estate industry and auctioning. Their professional legal assistance will safeguard your assets and make your move a less daunting process.