To help you understand the benefits of selling at Auction and how to go about putting your property into our next Auction, please read through this brief guide we have put together:

Is my property suitable for Auction?

Most types of property are suitable for auction depending on a realistic reserve price being agreed between the Auctioneers and yourself the vendor.

Viewings

We always recommend for you to go and see the property before you bid. Wherever possible we arrange group viewings for all our properties. These can be booked via our website or by calling our Auction team. We would advise you to arrive in enough time as we normally undertake viewings for approximately 15-20 minutes.

Survey

We often get asked the asked the question, ‘Can you buy Auction properties with a mortgage?’ the answer is ‘YES’. We would recommend you have a mortgage in principal, or short term bridging loans can also be used. You can instruct a survey prior to Auction, we will do our best to make access available for a survey to be undertaken.

Legal Documents

All legal documentation for each property can be found on our website prior to the Auction and hard copies maybe available at our offices. We recommend that you get a solicitor to check the legal documentation before you bid. Please remember that you buy subject to all documentation and terms of the sale contract whether or not you have read them.

Offers Prior to Auction

In some instances a vendor may consider selling their property prior to auction. If you are considering making an offer this should be above the guide price and be your best and final offer. You can make an offer in writing, by email, at any time up to the date of the auction, but if your offer is accepted you will have to be in a position to exchange contracts and pay your deposit immediately. Up until contracts have been exchanged there is no commitment from either party and the party remains on the Auction market.

Auction Day…..

Addendums and Notices

Occasionally changes need to be made to the lot information in this instance an Addendum Sheet will be provided on the day of the Auction and any details will also be published online. Any changes will also be announced before the Auction commences. We recommend that you read this thoroughly as any amendments will form part of the sales contract. Most importantly check if the property is still available prior to attending!

Registration

If you are intending on bidding for the property then you will need to register. The registration desk will be open approximately 1 hour before the auction commences. At the registration desk we will ask you for two forms of identification relating to you as bidder. Please bring official photographic ID, such as driving licence or passport, and proof of your address such as a recent bank statement or utility bill. We will take copies on the day. You will then be provided with a bidding paddle which will enable you to bid on any property you maybe interested in.

Bidding

The auctioneer will commence the auction in order of the catalogue, announce each lot and refer to any last minute changes ‘Addendum Sheet’. It is your responsibility to make your bidding clear to the auctioneer via the bidding paddle. All lots will be offered for sale subject to an undisclosed reserve price (unless stated otherwise). Please note that questions will not be taken by the auctioneer from the floor once the auction is in progress. If you do have any last minute queries, you should speak to a member of the Auction team.

At the fall of the hammer, if you are the highest bidder a legal and binding contract will have been formed and you will have bought the lot. We would recommend getting the property insured at this point as you have a legal interest in the property. You will be taken out of the auction room by one of Auction team to sign the auction contract, which is normally conducted by a solicitor.

Payment

If you successfully bid for a property and are the winning bidder you will be required to pay a 10% non-refundable deposit on the day of the auction and a buyer’s fee. These can be paid by debit card, cheque and bank transfer. The balance will then be required on completion.

What happens if the property doesn’t sell?

If the property fails to meet its reserve price then we will not authority to sell and therefore the property will be withdrawn from the sale. However if you are interested in the property please come forward to one of our Auction team and give them your highest bid. We can then speak to the vendors and see if we can agree sale on the same day.

Not able to make it to Auction?

If you are unable to attend, we offer remote bidding services:

  • Proxy bid – you leave us with your maximum bid and we will bid up to that amount for you on the day. The bids will still go up in increments; we don’t just submit your maximum bid.
  • Telephone bid – a member of staff will ring you on the auction day, just before the property is offered for sale. We will take your instructions and bid on your behalf.

There is a form to fill out which can be found within the Auction brochure or by CLICKING HERE. You will need to complete the form and give it back us at least one day before the auction, along with copies of your identification and debit or credit card details or a cheque so we can process the 10% deposit if you are successful.

After Auction

We will write to all parties involved confirming the sale of the property, it is important that you have appointed a solicitor and advised them of the purchase. Both the seller’s solicitors and buyer’s solicitors will then liaise with one another to see the property through to completion.

Completion

Unlike most Auction houses we offer completion time frame of on or before 56 days from the date of exchange. Therefore it enables you to obtain finance during this time and opens the property up to be bought with a mortgage.

Should you be unsure about any aspects of the buying process please do not hesitate to contact one of our Auction team.