One element of our service is in property auctions, where we offer clients a chance to order a Solicitor’s Pre-Auction Report, or ‘SPAR’.
Auction companies recommend that you have the legal pack for the property reviewed by a solicitor, prior to bidding, to ensure you are fully aware of the legal status of the property. When the hammer falls you are legally bound.
Fitzalan Partners works with solicitors who will check for obstacles to a potential purchase and advise their clients on how these can be mitigated. The final SPAR report includes areas such as; lender conditions, defective titles and an assessment of searches provided. The solicitor will also advise if there is information missing that is critical to assessing the risk of the property being offered for sale.
If successful at auction a client will typically need to complete their purchase within 21 days. The solicitor who put together the SPAR report can also further help with conveyancing, quickly and efficiently. If the SPAR report identifies a problem, the solicitor will advise the client what actions to take to de-risk the purchase. Clients can currently get a quote and order a report through Fridaysmove.