Whether buying, selling, renting, or developing, our expert commercial property lawyers guide you through the auction process. We keep you informed and in control from bidding to completion, ensuring a smooth and confident experience.
Send us a confidential message. Our initial call is always a no-obligation consultation.
At Wildings Solicitors, our team of commercial property solicitors collaborates with you to expedite and streamline auction transactions, encompassing the acquisition and sale of business premises, development land, and mixed-use properties. While auctions have gained prominence as a method for commercial property transactions, it’s crucial to grasp the legal prerequisites and make thorough preparations. Our solicitors provide specialized guidance to ensure you seize every opportunity without any oversight.
Securing a Mortgage for Auction Purchases
If you plan to finance your purchase with a mortgage, it’s crucial to be prepared. Lenders will need to verify the property’s value, so early assessments and valuations are key. Typically, a 10% deposit is required on the auction day, with the remaining balance due within 20 working days.
Insurance Considerations
In addition to the financial requirements, you’ll need to arrange for building insurance between exchange and completion. Auction contracts often transfer liability to the buyer immediately after the gavel falls, making it necessary to secure insurance coverage without delay.
Let us help you navigate the complexities of buying commercial property at auction, ensuring a smooth and secure transaction.
For buyers, auctions offer a unique opportunity to acquire commercial properties at potentially lower prices than those available through conventional open market channels. Property transactions are governed by the ‘caveat emptor’ principle, emphasizing the buyer’s responsibility to exercise due diligence. Once the auctioneer’s hammer falls, you are legally bound to the purchase, necessitating thorough research and preparation. Our solicitors will meticulously review the sale conditions, conduct in-depth due diligence on the auction pack, and provide comprehensive advice throughout the entire process. This includes :
If buying a commercial property at auction with a mortgage, be prepared for a lender’s valuation. A 10% deposit is required on the day, with the balance due in 20 working days. You must also insure the property immediately, as liability transfers to the buyer at auction.
Selling Commercial Property at Auction: A Seamless Process
Selling commercial property at auction offers numerous advantages, including a quick sale and the potential for competitive bidding that can drive the final price up.
At Wildings Solicitors, we work closely with you to ensure your property is fully prepared for auction. Our comprehensive services include:
We also collaborate with third-party experts, including commercial agents, accountants, and independent financial advisers (IFAs), to tailor the transaction to your unique needs. With our guidance, you can rest assured that your auction sale will proceed smoothly and efficiently.
Send us a confidential message. Our initial call is always a no-obligation consultation.
862-864 Washwood Heath Rd, Ward End, Birmingham, B8 2NG
0330 333 8797
info@wildings-solicitors.co.uk
Monday to Friday
9.00am - 5.00pm
Nafisa Hussein2024-05-21Trustindex verifies that the original source of the review is Google. I recently had the pleasure of working with Mr Mahmood from Wildings Solicitors for the purchase of my home, and I cannot recommend their services highly enough. He was incredibly knowledgeable, pleasant, and helpful throughout the entire process. They ensured everything went smoothly and kept me informed every step of the way. Their dedication and professionalism made a significant difference, and I am extremely grateful for their hard work. Kate2024-05-16Trustindex verifies that the original source of the review is Google. Farzana, the receptionist, was exceptionally efficient and friendly. Soyod, our solicitor, dealt with what needed to be done in a timely fashion and made sure we had copies of what had been completed. I was very pleased with the service and will use this branch again for future needs. Nazreen Akhtar2024-05-07Trustindex verifies that the original source of the review is Google. wilding were handling the paperwork during the sale of my property. my case was seen by tafsir fahim Khan. I had excellent communication from him with very thorough accurate information provided for realistic deadlines to complete the deal. I would happily seek their services if needed again. I would highly recommend them too. Azmina Shaikh2024-05-06Trustindex verifies that the original source of the review is Google. I would highly recommend Wildings Solicitors. Our move wasn’t easy but Daniyaal mehmood worked hard to get our move done.seller solicitors so much mess around but Daniel show so much patients to them .Communication was excellent, he always answered my calls and email.we are first time buyer a lot questions in mind always answers calmly.I can not thank them enough. I lady who work in reception so nice ,So professional.In Sha Allah definitely will come again to wilding solicitor in future. Griseld Qosja2024-05-03Trustindex verifies that the original source of the review is Google. Very happy with the service. Mr Tafsir Khan has been very helpful and professional during all the process of moving house . yahya Abdirahman2024-05-02Trustindex verifies that the original source of the review is Google. The Best Professional Service ever from Wilding Solicitors ( Daniyaal). I recommend to you all to contact them if you need legal issues. Mustansar Sarfraz2024-05-01Trustindex verifies that the original source of the review is Google. I cannot say enough good things about Wildings Solicitors. They were incredibly professional, knowledgeable, and efficient throughout the entire process. They made a stressful situation so much easier to navigate and I am extremely grateful for their expertise. I would highly recommend their services to anyone in need of legal assistance. Thank you, Wildings Solicitors, for your outstanding work! Sami A2024-04-06Trustindex verifies that the original source of the review is Google. We purchased a house a few months ago using this company we was allocated a very professional thorough gentleman called Daniyaal Mahmood. Amazing service quick fast and easy knew exactly what he was doing it’s stressful as it is buying a house but our experience was calm and dealt with in a professional manner was available all the time over the phone and email quick response as forst time buyers you do have 101 questions! Very happy will 100% recommend and will definitely be using the services again! Thank you daniyaal for everything highly appreciated! :) Jo-Ann Clover2024-03-28Trustindex verifies that the original source of the review is Google. I can not express how wonderful this company is as so efficient , helpful and friendly. Thank you Avenues Post office2024-03-27Trustindex verifies that the original source of the review is Google. They are very professional solicitors especially neelam afzal.she helped me with my case from start to end.she updated me at every stage of the case.i highly recommended to everyone.
Wildings Solicitors are authorised and regulated by the Solicitors Regulation Authority (no. 552128). Wildings Solicitors is a trading name of Wildings Solicitors LLP, a limited liability partnership registered in England and Wales. Registration Number OC360274 registered office 862-864 Washwood Heath Road, Ward End, Birmingham, B8 2NG. A list of Directors is available from the registered offices. We do not accept service by email.