A GUIDE TO BUYING AT AUCTION
– To buy property at Auction –
IMPORTANT PURCHASER INFORMATION
In order to buy property at auction you must first register at the
registration desk on the day of the auction.
You will not be able to bid or buy property at auction if you do not provide identification at the registration desk. If you are bidding as an individual two forms of original identification will be required for each purchaser.
On the ‘Fall of the Hammer’, contracts are exchanged for the sale & purchase of the property, both the vendor and buyer are legally bound to complete within the defined timescale (see below). This strict process gives security to our vendors and comfort for the buyer that no gazumping can occur.
To Register and to Buy Property at Auction
You will need to bring one form of each of the below ID:
If you are bidding on behalf of a Company you must provide the following original identification:
• Proof Residence and photo ID for one of the Directors (as detailed above)
• Certificate of incorporation for the company (if a Limited company)
• Official list of Directors
If you are bidding on behalf of another person/company you must provide:
• Original identity documents (as detailed above) for both yourself, as the bidder and the person/company who will be listed as the purchaser
• A letter of authorisation from the purchaser for you to act and bid on their behalf
How do you pay the deposit? NO CASH
10% deposit / minimum £5,000 + Fees
Credit Card | Debit Card | Bankers Draft | Bank Transfer | Cheque
Cannot attend the Auction?
There are a number of ways you can buy one of our Auction Properties, even if are unable to attend on the day.
After the Auction, how long do I have to complete my property transaction?
Standard is 20 working days from exchange of contracts.
However, please check the legal pack as it may differ.
Interested parties are free to submit an offer prior to the auction. If accepted, this will be under strict Auction terms as if it were sold in the Auction room.
Some lots fail to sell at the auction, in such cases, buyers are still free to submit an offer post auction for the vendors consideration.