Auction conveyancing
At auction the legal work happens before you bid, not after. Getting that order wrong is expensive.
In a traditional auction you are contractually bound the moment the hammer falls. There is no period afterwards in which to discover a problem and withdraw — the survey, the searches and the legal pack review all have to happen beforehand, at your own cost and risk, on a property you may not win.
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The legal pack is the whole job
The seller provides a legal pack containing the title, searches, special conditions of sale and any leases or tenancies. Your solicitor reviews it before the auction and tells you what you would be taking on. This is where problems live: restrictive covenants, missing title guarantees, tenancies in place, rights of way, or conditions transferring costs to the buyer.
Special conditions deserve particular attention. It is common for the buyer to be made responsible for the seller’s legal fees or the auctioneer’s costs, and for the deposit to be non-refundable in all circumstances. None of that is negotiable after the hammer falls.
Traditional versus modern method
Under the traditional method, exchange happens on the fall of the hammer and completion usually follows within a short fixed period — commonly 28 days, though the pack governs. You need funds genuinely available, not merely agreed in principle.
The modern method typically involves paying a reservation fee for an exclusivity period, with exchange later. The timescales are longer and more forgiving, but the reservation fee is generally non-refundable and is on top of the purchase price. Read which method applies before bidding — they are materially different commitments.
Having finance genuinely ready
A standard mortgage offer often cannot be produced inside a short auction completion window, which is why many auction purchases are funded with bridging finance and refinanced onto a mortgage afterwards. That route needs arranging before the auction, not after.
If the property is unmortgageable in its current state — no kitchen or bathroom, serious structural issues, short lease — a mainstream lender will decline regardless of how strong you are as a borrower. Establish that in advance.
What to watch for
- !You are committed on the fall of the hammer, with no cooling-off period
- !Deposits are generally non-refundable even if your finance falls through
- !Special conditions frequently pass the seller’s costs to the buyer
- !Legal pack review costs are incurred per property, including ones you do not win
Common questions
Do I need a solicitor before bidding at auction?
Yes. The legal pack should be reviewed before you bid, because once the hammer falls you are contractually committed. Instructing afterwards means discovering any problems when it is already too late to act on them.
How quickly does auction conveyancing need to complete?
Traditional auctions commonly require completion within 28 days of exchange, though the legal pack sets the actual period. That is the reason funding needs to be in place beforehand rather than arranged afterwards.
What happens if I cannot complete on time?
You are in breach of contract. Typically you lose your deposit and can be liable for the seller’s losses, including any shortfall if the property is subsequently resold for less. This is why the finance question is settled before bidding.
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Compare conveyancing quotes →This page explains the general conveyancing process and is not legal advice. Your own circumstances, lease or contract may differ — rely on the advice of your appointed conveyancer.