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You are likely to find that the contract for the sale of commercial property incorporates the Standard Commercial Property Conditions (Second Edition) and specifies, again, that the property is sold âwith vacant possessionâ or subject to a specific lease.f you seek to provide vacant possession then you must ensure that you pass the two fold test mentioned above and in particular: 1  You must leave the property and ensure that your family/employees leave and, indeed, anyone else-such as trespassers. 2  Take all your goods with you.
A sheriffâs sale is a public auction where mortgage lenders, banks, tax collectors, and other litigants can collect money lost on property. A sheriffâs sale is a public auction where mortgage lenders, banks, tax collectors, and other litigants can collect money lost on property. A sheriff sale occurs at the end of the foreclosure process when the initial property owner can no longer make good on his or her mortgage payments.