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Commercial Auction Sales: Top Tips for Happy Buyers and Sellers

January 2020

The decision to sell or buy commercial premises at auction is becoming increasingly popular and is proving resilient in the uncertain market conditions. The UK’s largest property auction house Allsop advises that the results from its latest December 2019 Auction sale show a total raised of £43million from 84 properties sold in its December auction achieving a success rate of 84%. Overall the total commercial auction sales for Allsop in 2019 were a whopping £426m from 637 investments. 

However buying, or even selling a property at auction comes with some risks so we have put together our top tips for auction sellers and buyers to help the process go as smoothly and as cost effectively from a legal perspective.

Selling:

Buying:

It is really important when either buying or selling that you have a legal advisor who understands the intricacies of auction processes and who can give you the best possible advice. Time IS of the essence with auction sales so a proactive legal advisor is by far the best decision you can make. If you are thinking of selling or buying by auction and would like to speak to one of our experienced commercial property solicitors then please call 01473 298250 or email CommProp@prettys.co.uk.

Rebecca Cleal

Senior Associate

e rcleal@prettys.co.uk

t 01473 298250

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