Bidding at Property Auction

Important information for bidders

Money Laundering Regulations

We have in place procedures and controls which are designed to forestall and prevent Money Laundering. If we suspect that a supplier, customer/client, or employee is committing a Money Laundering offence as defined by the Proceeds of Crime Act 2002 we will in accordance with our legal responsibilities disclose the suspicion to the National Criminal Intelligence Service. If you are the successful purchaser, we will undertake a search with a Credit Reference Agency for the purpose of verifying your identity only. To do so, the Credit reference Agency may check the details we supply against any particulars on any database (public or otherwise) to which they have access. They may also use your details in the future to assist other companies for verification purposes. A record of the search will be retained.

Auction Procedure - always seek legal advice before buying

BEFORE THE AUCTION

Conditions Of Sale - All properties in this catalogue are sold subject to the Conditions of Sale printed in this catalogue together with the special conditions relating to each individual lot. These, together with any related documentation, will be available via our website prior to the sale. Interested parties are deemed to buy in full knowledge of these whether or not they have actually inspected the conditions. We recommend inspecting the legal documents once they are available and avoid leaving it until auction day. The auction packs will only be available for inspection at the sale room 12.30–1.30 pm

Ordnance Survey Plans - Ordnance survey extracts crown copyright 2003. All rights reserved. Licence no. 10020449. Survey scale 1:250,000. Plotted scale 1:1250. Boundaries are shown for identification only and should not be taken as definitive.

Tenure Details - It is not always possible to provide tenure details relating to each lot at the time the catalogue is printed. Where we have written confirmation from the vendor’s solicitor we will provide details. In the absence of written confirmation the tenure details will be omitted from the catalogue but, details will be included in the Conditions of Sale which will be available on our website and in our office for the days leading up to the auction

Viewing Auction Property - Details of appropriate viewing arrangements are included with each lot in the catalogue. In the cases of severe weather we recommend checking with the office to ensure that viewings are still being held. Viewing times will begin and end promptly as stated and your co-operation is appreciated. Some of the properties offered for sale by auction each month are in a poor state of repair and in some cases hazardous. Interested parties are reminded to exercise caution whilst viewing

Surveys - If you wish to have a survey carried out on the property prior to the auction please refer your surveyor to us as soon as possible and appropriate arrangements will be made. We cannot always accommodate last minute requests.

Registration of Interest – If you are interested in a particular property, we advise you to register your interest with us as soon as possible. We can then make you aware of any alterations and, if requested, inform you when the legal documentation is received. The easiest way to do this is to register for the legal pack.Pre-Auction Offers – We anticipate that the lots in this catalogue will be offered, as advertised, on the day of the sale. There may be circumstances where the acceptance of an offer prior to auction may be considered. However, only unconditional offers will be submitted, ie those which are not subject to mortgage, survey, searches, etc. Pre-auction offers should be submitted in writing using the form on our website.

Telephone / Proxy Bids - We advise that you attend the auction in person if you are bidding for a particular lot. If however you are unable to come to the sale or have someone bid on your behalf, you may choose to bid by proxy or by telephone. The appropriate form together with the deposit requirements will either be printed at the end of the catalogue or will be available via our website.

Alterations - Should any of the properties mentioned in this catalogue be withdrawn from sale or if any alterations arise, details will be included on our website on the same day. An addendum sheet will also be distributed prior to the auction and alterations will be referred to by the auctioneer prior to each particular lot.

AT AND AFTER THE AUCTION

Auction Procedure - If you are the successful bidder, a member of the auction team will approach you with a simple form. You will be asked to provide your name, address and telephone number and if you are bidding on behalf of somebody else we will need the details of that person or company. We will also request the name and address of the solicitor acting on your behalf. The vendor’s solicitor will usually be present at the sale room and will oversee the signing of the contract either straight away or at the end of the auction should you wish to bid on another property

The Deposit - The amount of the deposit required in each case will be stated in the Conditions of Sale and will usually be 10% subject to a minimum of £1,500. Payment must be made at the saleroom by either cheque, bankers draft or card. Failure to do so may lead to lot being re-offered. Deposit payments in cash will not be accepted. All cheques are banked immediately after the auction and you must ensure that you have adequate funds in your account. It should also be noted that some auction contracts also have a provision for payment of the vendor’s fees and your attention is drawn to the paragraph on the following page.

Buyer's Administration Fee - Please note there is an administration fee of £600 including VAT payable on each lot.

Completion Dates - The completion date for each lot can vary, and you are advised to check the Conditions of Sale prior to the auction.

Keys - Keys to auction lots will not be released at any time without prior arrangement. Once we have notification from the vendor’s solicitor that completion has taken place, the keys to the property will be made available for collection at our offices. To avoid unnecessary delay we recommend contacting us in advance to make the appropriate arrangements for collection.

Unsold Lots - Enquiries for unsold lots are welcome after the sale when unconditional offers will be considered. In many cases properties are sold immediately after the auction is finished and if you are interested please see the auction staff at the saleroom

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