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Bidding at Auction:

Please note that when buying at auction, bidding is only permited if you can confirm that you are in a position to proceed as a cash buyer, or that you have financial arrangements in place to make deposit payments and pay the final balance within the auction timescale, normally 30 days for our Rapid Sale Completion, and nearer 60 days for our Standard Sale Completion properties.  Assuming a satisfactory viewing, the bid must be made before the auction close date and time.  Those buyers who choose to bid without viewing or obtaining an independent opinion, or surveyors report should note that once a bid is made, it is assumed that any due diligence deemed necessary has been conducted to the bidder’s satisfaction relative to the price bid.  Therefore, as with any bidder, there will be a legal obligation to proceed to completion if the bid is accepted at the close of auction, or prior to close of auction.  Please note that all bids on properties marked as "Standard Sale Completion" are made subject to satisfactory searches and contract as with any sale method.

Deposits:

All bidders accept that once their bid is accepted by the owner, before or at auction close, they will immediately make a £1,000 initial payment for UK properties, or 1,500 éuros for non UK properties.

Bids on "standard sale completion" properties will pay this deposit to their solicitors within 24 hours of bid acceptance.  The full 10% deposit is not due until the contracts are ready for exchange, meaning that the only initial deposit is the payment request as explained above. Standard sale completion property bids are all subject to contract.

Where the bid is for a property regsitered for "Rapid Sale Completion", this initial deposit payment will be payable immediately upon receiving our instant deposit payment request, which is payable by credit/debit card.  As all documents are ready for immediate exchange of contracts a further deposit payment equivalent to 10% of the sale price, less the initial deposit payment already made must be made to your solicitor within a period of 3 days.  Deposits are non returnable on properties registered as "Rapid Sale Completion" as with live auctions.

Deadlines:

Bids can be entered up to midnight on the final day of Auction.

Withdrawal of Bids:

Any bid may be withdrawn up to and including the day before the final date of auction.

Bids may not be withdrawn on the final date of action.

Raising of Bids:

As with any auction, bidding at auction does not have to be your final bid.  Should you decide that you want to raise a bid you have already submitted, simply repeat the process through the buttons on your chosen property, but with an increased bid.

Bidding at auction must include the contact details of the bidder's solicitors.  Bids without solicitors contact details may not be accepted.  Once you have entered a bid, It is very important that you advise your solicitor of your intentions should your bid be accepted.  You should also obtain the owner's Solicitor details ready for your solicitor to contact and draw up the contract of sale.

Bidders should be aware that the owner may accept the bid prior to auction close.  Bidders should therefore be in a position to proceed with deposits and a rapid completion, generally aiming for 30 days.

How much to bid:

If your main objective is to win the bid because you have found the perfect property to buy, you are best off bidding at the higher end of the guide price, or even above it to be really sure of winning.

If your objective is to buy the property but only if you can buy at a bargain price, bid nearer the bottom of the guide price range, but realise that you have less chance of being the successful bid.

Property Investors looking to steal a property at a giveaway price, who are prepared to lose several bids in the hope of winning one good one, may choose to enter bids below the guide price.  In order to win a bid on this basis, you would normally need to be in a position to complete in a rapid timescale and it is likely to be available to cash buyers only.

You must remember that other bidders will not be aware of your bid levels and you will not be aware of theirs, so if you want the property enough, it is worth bidding a little higher.

To make the bid, simply click on the Property of your choice, and you will be able to complete the bid form.

The Auction close:

No auction bids will be considered after the auction final close date and time.

The successful bidder will be notified within 24 hours, and should advise solicitors accordingly.

All owners and bidders should have already pre-advised their solicitors, and to have provided them with at least a basic level of document copies so as to ensure a fast and snag free completion.