Documents to Review Before Bidding
Check the Paperwork Before You Raise Your Hand
The guide price only tells you where bidding may begin. The legal pack tells you what you could actually be buying.
Before bidding on a potential HMO, your solicitor should review:
- The title register and title plan
- The auction’s special conditions and completion deadline
- Buyer’s premiums, administration charges and additional costs
- Searches, restrictions, covenants and rights of way
- Existing leases and tenancy agreements
- The HMO licence and any licence conditions
- Planning history, lawful use and the local Article 4 position
- Any enforcement notices or unresolved building-control matters
- The EPC and available property-safety documents
We can review the finance position before the auction, but the legal pack should always be checked by a solicitor experienced in auction purchases.
A cheap guide price is not a bargain if the property cannot be operated, valued or financed as the HMO you intended.
