T 020 8290 0440 Call us on 020 8290 0440  |  Email us  |  Request a call back

Open Close

Commercial Property Transactions

Pre-auction service

Properties being sold at auction are likely to be unique, difficult to value or may have some hidden issues or defects. An auction contract is usually prepared by the seller's solicitor in collaboration with the auctioneer and once the gavel falls, the buyer is bound by those terms. To prevent costly mistakes it is vital that a solicitor has checked this for you - before you attend the auction. You should also ensure that you have finance in place prior to the auction.

We provide a service for the purchase of auction property including:

  • Reviewing the terms of the contract.
  • Reviewing the documentation provided by the seller in the auction package and if time permits we would carry out a local authority search which will reveal all the information the local authority holds in relation to the premises.
  • Reviewing any formal written enquiries.
  • Prepare a full and detailed report to you explaining (a) the terms of the contract and the obligations contained in it (b) the results of the searches and (c) the replies to enquiries raised with the seller.

If you are successful at the auction we would then be able to deal with the pre-completion searches and post completion formalities.