Auction Rules & Terms.

This website operates on the principles of auction by the following definitions:

Auction is the Process by which buyers are sought on behalf of property vendors and their agents. Our purpose is to find buyers who will make offers within or around a guide price, from which the vendors of the property will choose their preferred bidder from those bids above the reserve price. Thereafter the respective solicitors will process the sale as with any other property sale.

The rules by which buyers and sellers participate in the auction are laid down by us, but due to the global nature of our service, we are unable to participate, or be responsible for the enforcement of these rules. Should any buyer or vendor breach these rules, the opportunity exists for the other party to pursue the breaching party for damages through the courts of the Country of the transaction.

Propertyforsalebyauction.com has laid down these rules to form the basis of a fair transaction, and in order that they can be used to support any case should a breach arise. As all participants of this auction must use solicitors, their solicitors will take the necessary efforts to ensure the smooth transition of ownership from the point of sale. i.e. the close of auction, or following a bid acceptance by the seller prior to auction close.

Buyer Rules

All bids must be made directly through this website
All bids must include Solicitors contact details
All bidders must ensure they are in a position to fund the purchase should their bid be the winning bid
Any bids can be withdrawn up until the day before the final date of auction. Bids cannot be withdrawn on the final day of auction.
Any bid can be raised up until the final close of auction
No deposits should be paid directly to the owners, but to the bidder’s solicitors, or through our Deposit payment request system in the case of Rapid Sale Completion Properties.
Rapid Sale Completion Property processes are very similar to a live auction process, and as with live auctions, deposits are non returnable.
Deposits on Standard Sale Completion Properties are viewed the same as in any standard property transaction through an agent or any other method. This can vary from country to country and the local principles to each country would be applied.
Deposits must be paid within the auction timescales, i.e. Once the bid is accepted as the winning bid, by the owner, initial deposit is payable either within 24 hours or 3 days depending on the sale type
There is no charge for buying property through this website.

Seller's Rules

Once a property has been entered for auction, the reserve price cannot be changed within that Auction Period. In the case of an error necessitating change, the property must be withdrawn from the auction, and re-entered in the following auction.
You are under no obligation to accept bids below your reserve price.
You are however, obligated to accept your preferred bid over your reserve price. (Only applies to Rapid Sale Completion properties)
You can withdraw your property from auction at any time up to the day before the final day of auction.
Deposits should only be paid to solicitors in order to safeguard all of our buyers and sellers.
It is the seller’s responsibility to be aware of local laws and taxes within their respective Countries.
When a property is sold through this website, the seller agrees to pay our commission fee of £300 within 7 days of completion. In a Rapid Sale Completion, this fee is deducted from the initial non returnable deposit, the balance of which is transferred directly to pthe buyers solicitor.
We do not operate any exclusivity agreements and owners can market their property via any other means they deem fit.

Disclaimer

All property details on this website are provided directly by the owners or their agents, and we present them in good faith. However, it is the responsibility of buyers to ensure the accuracy of these details to their satisfaction and we accept no responsibility whatsoever for any inaccuracies identified. We aim to introduce buyers to sellers via an on-line auction process, although we cannot accept any responsibility for any sales which do not conclude, or result in any dispute of any kind.

All buyers and sellers through this website must use solicitors. Our responsibility is solely to introduce buyers and sellers, and we will not play any part in the sale thereafter, regardless of outcome. Every effort has been made to ensure that all content on this site is correct, although we cannot be held responsible for any errors or omissions.

Refund Policy. Any refunds of the registration fees will be the sole discretion of the website management.