Browse our Auctions Services
The commercial property lawyers at Bury and Walkers Solicitors can help you to get the very best from property auctions.
Whether you are looking to buy or sell a property at auction, our experienced solicitors will give you the very best advice and guide you carefully through the process. Over the years we have acted on behalf of a wide variety of clients, from private individuals, to property owning companies and local authorities buying and selling property at auction.
Selling a Property at Auction
Many of our clients are familiar with what is involved in selling a property at auction. For clients new to the auction process, we will help steer you through it. We will put together an auction pack to help you to attract potential buyers of your property and maximise interest. We will liaise with the auctioneers on your behalf to create an auction pack that meets the specific requirements of the auctioneers involved.
You want as many potential buyers as possible to bid on your property. Experience has shown us that by making available prior to and at the auction copies of all the appropriate legal documents associated with the property will encourage more people to make a bid.
After a successful bid, we will communicate with the buyer and their solicitors to ensure a smooth sale.
Buying a Property at Auction
It is important to understand the risks of buying a property at auction because once you have bid on a property at an auction you are making a financial commitment to that property. We therefore strongly recommend that anyone buying a property should take legal advice and conduct the necessary due diligence before attending an auction and bidding on a property.
Auctions are sometimes used by sellers who want to dispose of unusual or difficult properties, and it pays to check what issues may be discovered before you have committed to buy the property at auction. Remember, if you are successful at auction, then you are obliged to buy the property and it is too late to withdraw from the transaction, at least, without losing your deposit.
Prior to bidding on an auction property, we can help to identify any issues that might prevent your bank from lending money to you in order to buy the property.
Property Auctions – legal fees
We are conscious that clients, whether buying or selling a property at auction, may not be successful. We therefore provide estimates of costs based on both a successful purchase and sale, or an unsuccessful purchase and sale. This puts you fully in control of the finances.
It may help you to listen to our Property Investor Guides which give more information about buying or selling a commercial property at auction. *LINK TO PODCASTS*
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