If you are looking to buy a property at auction, Leon Kaye Solicitors can pre-check the auction pack. This will avoid you committing yourself to unreasonable legal obligations. We deal with all types of residential commercial and property purchases including freeholds and leaseholds.
If you are buying with the assistance of a Mortgage (a loan from a bank, building society or other financial institution), you should obtain advice from your lender or mortgage broker as to the best mortgage for your circumstances. We do not provide financial advice or make recommendations in relation to mortgages. You should give your lender or mortgage broker our details so that the Mortgage Instructions are sent to them.
Mortgage Instructions are details sent to your Solicitor as to how much your mortgage lender will lend, who they will lend it to, how the money is to be repaid and over what period. Additional charges may be added to your loan for Surveyors Fees (Survey: your mortgage lender will require that their Surveyor visit the property in order to ascertain that it’s value exceeds the amount to be lent and the state and condition of the property and to prepare a Report), Arrangement Fees (the cost of arranging your mortgage) and other sundries, for example Bank Charges.
HOW IT WORKS
Once you have found a property you are interested in bidding for just email, fax or post to us copies of the legal documents which you can obtain from the auctioneers and let us know what you propose to use the property for (ie as a home, shop, restaurant, etc). If the documents are available online simply email us the link. We will check the legal documents to ensure that everything is in order and that all necessary property searches have been done. We will let you have our report on the legal documents relating to the property. You can then bid for the property reassured that everything is in order. If, however, there are any legal problems, we will advise you accordingly and you can then decide whether or not to bid for the property.
WHAT ARE THE COSTS?
For checking the documents for most properties we charge a fixed fee of only:
£175 + VAT for freehold
£250+ VAT for leasehold
If there are more documents than usual, or the matter is more complex than usual, we will advise you in advance of the amount of additional fees before we commence work. If you are successful in bidding at the auction and instruct us to do the legal work on your behalf, we will deduct the fee you have already paid to us from our conveyancing fee payable on completion.
Email: info@leonkaye.co.uk Telephone: Battersea Office: 020 7228 2020 or Knightsbridge Office: 020 7095 0930