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Commercial Property Auctions

What types of property can be bought or sold at a commercial property auction?

  • Retail property
  • Industrial property
  • Commercial units
  • Offices

Buying a commercial property at an auction

The process for buying a commercial property at an auction is for a commercial property solicitor to:

  • Obtain the contract pack from the auctioneers
  • Review the contract pack and advise of any possible areas of concern
  • Deal with any funding arrangements, including loans and commercial property mortgages
  • Upon a successful bid, we will deal with the completion of your purchase within the agreed timeframes, which would usually be within 28 days of the date of the auction
  • Where applicable, we will then prepare and submit the stamp duty land tax return to HMRC before registering the property in your name at the Land Registry

Selling a commercial property at auction

The process for selling a commercial property at an auction is for a commercial property solicitor to:

  • Draft the contract pack and provide this to the auctioneer in plenty of time, before the auction is due to take place
  • Liaise with your lender if applicable, in relation to repaying any mortgage
  • Attend the auction with you, to be on hand to answer any questions from prospective buyers
  • Deal with completing the sale upon a successful bid being accepted
  • Promptly transfer the proceeds of the sale to you

Timeframes: buying and selling a commercial property at auction

Buying at auction

You would usually prefer to have 4 weeks in which to review the contract pack at the auctioneers’ and at the very least, we would recommend that there is an absolute minimum of 5 days to review the documents prior to the auction taking place.  If you are intending to fund the purchase with borrowing, then the longer the time period you have to arrange matters with a lender, the better.

Selling a commercial property at auction

The contract pack will need to be with the auctioneers within plenty of time, before the date of the auction.  Guidelines would be to leave around 4 weeks for preparation of all contract documents.

Contact our commercial property solicitors

Bray & Bray has three main offices in Leicestershire. We will be able to answer any initial questions you have over the phone and arrange for a meeting at your nearest office, at your earliest convenience.

Leicester call us on 0116 254 8871.

Hinckley call us on 01455 639 900.

Market Harborough call us on 01858 467 181.

Bray & Bray's experts don't just dip in and out of different areas of law – all our lawyers specialise in certain areas and have the knowledge and confidence to take on any kind of case in their area of law. Contact us and we'll work alongside you from start to finish.

We know that when our clients are dealing with a stressful legal situation the last thing they need is to be confused by jargon, or made uncomfortable by stuffy professionals. Our plain speaking transparent approach puts people at ease and we're really proud of it.

We offer a complete range of legal services, from personal injury to family law, criminal defence and immigration. We have expert teams of lawyers working in all legal areas, and you'll never work with anyone who isn't fully versed in the relevant laws.

We're based in Leicester and the county but we serve clients nationwide, so don't hesitate to get in touch if you're based some distance away. We do everything we can to make things simple for clients based elsewhere – we'll keep in touch via phone and email, and we'll come and visit you should we need to.

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