Q: Do we need to Register?
A: No need to register with us. As long as you are proceedable on the day you can turn up and bid. It is a verbal contract so if you are the wining bidder you are expected to proceed.
Q: What do we need to take on the day?
A: Your cheque for 10% of your highest bid in case you are the successful bidder and a form of identification in case the Solicitors require it.
Q: Do we exchange on the day?
A: Yes as the hammer falls, contracts are exchanged.
Q: Will there be time to do my due diligence?
A: Yes, any surveys, builders or other contractors you would like to see the property before the auction are able to organise a viewing.
Q: Is there a buyers fee?
A: No, we do not charge a buyers fee.
Q: What happens if a property doesn’t sell in the room?
A: Generally by the auction we have identified interested applicants and if the property does not sell we are able to talk to these people to negotiate a sale.
Q: How quick is the auction?
A: The auctioneer takes a more leisurely pace than most auctions so do not worry that you may not hear or that you may miss a bid.
Q: How do I bid?
A: A bidder must raise their hand, nod their head or ensure they get the auctioneers attention.
Q: Do I need to be there to bid?
A: We offer the ability to insert a Proxy bid or a Telephone bid. A proxy bid means that you have given your instructions to the auctioneer to bid on your behalf up to a certain level, you would have to include a signed cheque for 10% of your highest bid in case you are successful. Telephone bids mean a person in the room telephones you as the auction begins and talks you through the bidding as it is happening, bidding on your behalf, again a signed cheque would be required however, this time blank as you are in control of your bidding. In both cases if you are unsuccessful the cheques would be destroyed or returned to you.
Q: What happens next if I am the successful bidder?
A: The Legal Pack is available from the Solicitors prior to the auction and will have any information on completion dates following the auction, as a rule of thumb this is normally 28 days.