Welcome to the Property Auctions News Blog where we publish industry-related topics with more of an evergreen nature.
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As a seller or a prospective buyer, engaging in any kind of property auction usually involves an auction legal pack.
This is a collection of documents relating to a property being sold at auction. It is compiled and initially paid for by the seller and the seller’s solicitor. However, the seller can recoup some of the costs as part of the sale from the buying party.
While creating auction legal packs is not a statutory requirement, it’s highly recommended.
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Modern Method of Auction (MMoA) continues to grow as a popular means of buying and selling property.
It represents a legitimate alternative to the super time-sensitive nature of traditional auctions and fast cash house sale options, without the uncertainty that comes with estate agency (“private treaty”) sales.
In this article, we’ll explore exactly what Modern Auction offers – delving into the key differences with estate agency sales and the main pros + cons alongside the processes involved. We also examine where this sales method sits within the future of the UK property sales industry.
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