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Auction sales and purchases

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We can provide a comprehensive report on documents prior to auction, so that you are fully aware of any issues before you proceed and we can also help prepare a sale auction pack in advance of the auction.

Why (or when) someone would need this service?

For buying and selling freehold commercial property by auction. The seller may have different reasons for making a sale through auction, particularly if it is imperative that a sale is achieved by a particular date or if the property suffers from a problem which has proved a stumbling block in prior attempted private sales. A buyer may be looking for a bargain or have been unable to negotiate a price privately.

How does the process work/what are the steps?

A seller client contacts us in advance of the auction and provides the auction details to us. We will then provide an “auction pack” including all relevant documents which will be required by a buyer’s solicitor. These are typically made available online by the auctioneer prior to the auction.

A buyer client would typically contact us once they have identified a property in an auction catalogue which may be suitable to them. Occasionally a buyer may have already purchased the property at auction before they first instruct us although this is not advisable. In such cases we can still act but the buyer will probably have to go through with the purchase, whatever our advice.

The contract is made when the successful bidder’s bid is accepted by the auctioneer as the final bid made above the set reserve price.

Following a successful sale or purchase at auction we deal with the other party’s solicitors to complete the sale or purchase of the property within the contractual time period.

How long does it take?

When acting for a seller we would ideally like about six weeks’ notice prior to the auction to allow us time to obtain relevant searches and have these ready sufficiently in advance of the auction date.

When acting for a buyer we would ideally like two weeks from first instruction prior to the auction date so we may properly advise on all information available.

Completion typically takes place four or six weeks after the auction.

Is it expensive ? How do the costs work?

For auction work we typically agree one fee for (in the case of a seller) preparing the auction pack and sending copies to interested parties and (on behalf of the buyer) reviewing the auction pack prepared by the seller’s solicitors. We would then charge a second fee, based upon the value of the transaction on a sliding scale, to see the matter through to completion. If the seller is confident of achieving a sale we may agree special arrangements where most of our charges are recovered from the buyer under the terms of the contract.

What are the things people should consider before calling?

Buyers should have details of the auction catalogue, lot number and confirmation of their proposed funder, if they wish to have mortgagee consent to the transaction prior to bidding at auction.

Sellers should contact us as far in advance as possible, provide all deeds and documents in their possession and give full details of the name of the auctioneer, the date of the auction and (if issued) the lot number.

Why are Grant Saw the best people for the job?

You will have a named solicitor acting for you who will take a pro-active approach to progressing the matter to completion. 

To discuss your legal requirements, please email [email protected] today or contact our team on 020 8858 6971.

Meet the Auction sales and purchases team
Ray Crudgington
Managing Partner
greenwich
02083054224
ray.crudgington@grantsaw.co.uk
Maria Lati
Partner
Head of Residential Property
blackheath
02083054229
maria.lati@grantsaw.co.uk
Mike Clary
Partner
Head of Family
greenwich
02083054237
mike.clary@grantsaw.co.uk
Kalpa Prajapati
Partner
Head of Private Client
blackheath
02083053536
kalpa.prajapati@grantsaw.co.uk
Mario Savvides
Partner
Head of Commercial Property
greenwich
02083053531
mario.savvides@grantsaw.co.uk
Sarah-Kate Jackson
Partner
Head of Litigation
greenwich
02083054236
sarah-kate.jackson@grantsaw.co.uk
Adina-Leigh Collins
Litigation
Solicitor
greenwich
02083053556
adina-leigh.collins@grantsaw.co.uk
Aimal Gram
Commercial Property
Solicitor
greenwich
02083053524
aimal.gram@grantsaw.co.uk
Aisha Mohammed
Residential Property
Solicitor
greenwich
02083054228
aisha.mohammed@grantsaw.co.uk
Aishat Balogun
Aishat Balogun
Family
Solicitor
greenwich
02083054214
aishat.balogun@grantsaw.co.uk
An Le Tran
Commercial Property
Professional Support Solicitor
greenwich
02083054226
anle.tran@grantsaw.co.uk
Angus Young
Litigation
Solicitor
greenwich
02083054225
angus.young@grantsaw.co.uk
Atifha Aftab
Atifha Aftab
Family
Solicitor
greenwich
02083054238
atifha.aftab@grantsaw.co.uk
Bimal Kotecha
Litigation
Solicitor
greenwich
02083053523
bimal.kotecha@grantsaw.co.uk
Charlotte Mandy
Charlotte Warren
Private Client
Solicitor
blackheath
02083054231
charlotte.warren@grantsaw.co.uk
Claire Mac Mahon
Litigation
Solicitor
greenwich
02083053537
claire.macmahon@grantsaw.co.uk
Deborah Taite
Residential Property
Solicitor
blackheath
02083053542
deborah.taite@grantsaw.co.uk
Emily Pearce
Residential Property
Solicitor
greenwich
02083053526
emily.pearce@grantsaw.co.uk
Georgia Beales
Litigation
Paralegal
greenwich
02083054206
georgia.beales@grantsaw.co.uk
James McKimm
James McKimm
Corporate and Commercial
Solicitor
greenwich
02083054217
james.mckimm@grantsaw.co.uk
Jeremy Brooks
Jeremy Brooks
Private Client
Solicitor
blackheath
02083053534
jeremy.brooks@grantsaw.co.uk
Joanna Godden
Notary Public
Notary
greenwich
02083083535
joanna.godden@grantsaw.co.uk
Kim Whitaker
Kim Whitaker
Corporate and Commercial
Head of Corporate and Commercial
greenwich
02083053539
kim.whitaker@grantsaw.co.uk
Laura Danquah
Compliance Manager
greenwich
02083054222
laura.danquah@grantsaw.co.uk
Lauren Smith
Employment and Family
Paralegal
greenwich
02083053543
lauren.smith@grantsaw.co.uk
Mandeep Clair
Family
Solicitor
greenwich
02083054235
mandeep.clair@grantsaw.co.uk
Michael Pope
Employment
Consultant Solicitor
greenwich
02083053540
michael.pope@grantsaw.co.uk
Michelle Pinnington
Michelle Pinnington
Residential Property
Solicitor
greenwich
02083054216
michelle.pinnington@grantsaw.co.uk
Noella Gooden
Employment
Solicitor (Australian qualified)
greenwich
02083053543
noella.gooden@grantsaw.co.uk
Raj Waghela
Raj Waghela
Residential Property
Solicitor
greenwich
02083053529
raj.waghela@grantsaw.co.uk
Randeep Thethy
Randeep Thethy
Residential Property
Solicitor
greenwich
02083054209
randeep.thethy@grantsaw.co.uk
Ruggero Pesciatini
Ruggero Pesciatini
Corporate and Commercial
Paralegal
greenwich
02083054220
ruggero.pesciatini@grantsaw.co.uk
Sarah Conner
Sarah Conner
Private Client
Solicitor
blackheath
02083054234
sarah.conner@grantsaw.co.uk
Simran Lalli
Simran Lalli
Employment
Solicitor
greenwich
02083054208
simran.lalli@grantsaw.co.uk
Susan Collins
Commercial Property
Solicitor
greenwich
02083054200
susan.collins@grantsaw.co.uk
Tatiana Zenina
Tatiana Zenina
Private Client
Solicitor
blackheath
02083054239
tatiana.zenina@grantsaw.co.uk
Trisha Djemal
Trisha Djemal
Residential Property
Consultant Solicitor
blackheath
02083053546
trisha.djemal@grantsaw.co.uk
Tyrone Grant
Residential Property
Head of Leasehold Enfranchisement
blackheath
02083053522
tyrone.grant@grantsaw.co.uk
Denise
Accounts Staff
greenwich
02088586971
enquiries@grantsaw.co.uk
Jayne Lye
Support Staff
Office Manager
greenwich
02083054204
jayne.lye@grantsaw.co.uk
Jamie
Support Staff
Head of IT
greenwich
02088586971
enquiries@grantsaw.co.uk
Kasia
Accounts Staff
greenwich
02088586971
enquiries@grantsaw.co.uk
Michael Tobin
Michael Tobin
Support Staff
Marketing and Business Development Manager
greenwich
02083053550
michael.tobin@grantsaw.co.uk
Sue Holness
Support Staff
Customer Services
greenwich
02083054221
sue.holness@grantsaw.co.uk