Why choose Auction?
Why choose Auction?
SPEED & MOMENTUM
Fastest way to achieve a sale
OPEN & TRANSPARENT
Ease of opportunity to obtain legal documentation, with no hidden surprises
SECURITY OF SALE
Instant sale with immediate exchange of contracts
DEFINED TIMESCALE
Completion will usually take place within 28 days (20 working days) of exchange of contracts
LEVEL PLAYING FIELD
Equal opportunity for all bidders and best possible prices achieved
The Auction Process Checklists
Please see checklists below for buyers and sellers:
Buyer's Checklist
01
Research the Lot
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View lot details on our website
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Contact us to arrange a viewing / book your viewing - we will advise dates and times for viewings of any particular property on our website
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Arrange a survey (if required) - we will endeavour to arrange access should you require your own survey (at your own cost) prior to an auction
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Check the addendum (if necessary) - some changes may be made to the original information supplied regarding a property and will be added to an addendum. Please ensure that you check any addendum as it could change any time up until the auction
02
Review the Legal Pack
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Download Legal Pack from our website
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Consult your own solicitor for advice on the Legal Pack - we highly recommend that you seek independent legal advice prior to bidding
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03
Arrange Funding
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​​Organise any necessary funding - if you intend raising finance or a mortgage, please note that you should obtain an offer in principle from your chosen lender before the auction. Most auction property sales will complete 20 working days from exchange of contracts on the auction day and you should discuss this with your lender prior to making any bids. Please refer to the Special Conditions of Sale for completion on any particular property.
04
Consider Pre-auction Offers
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Some vendors are willing to sell prior to auction - please contact us to discuss if you wish to make any pre-auction offers. We will advise if the vendor of the property you are interested in will consider offers. Please note, your offer should be your 'very best offer' and will have to be in excess of the advertised guide price. Any pre-auction offers that are accepted will still be under Auction Conditions.
05
Consult Buyer's Guide
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Register to Bid - Please follow instructions on the Buyer's Guide.
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All parties wishing to bid on any particular property will be required to provide ID as part of the registration process to satisfy the Anti-Money Laundering (AML) Regulations - Please refer to AML Check in the Buyer's Guide.
Seller's Checklist
01
Request Free Auction Appraisal / Instruction
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Once we have been contacted by you, we will undertake a free, initial inspection / appraisal of your property, advising on our recommendations for guide and reserve prices. We will also discuss our fee structure with you for entering a property into one of our online auctions.
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As part of this initial appraisal, we will take photographs of the property which may be used in subsequent marketing assuming that we are instructed to advertise the property for sale.
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Once prices and fees are agreed, we will send you our T&C's for approval and signing.
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You will be required to provide us with proof of identity to satisfy anti-money laundering regulations and we will advise at this point what is required from you. ​
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02
Instruct a Solicitor to
prepare a Legal Pack
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We will require details of your solicitor who will be instructed to prepare the Legal Pack.
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We will contact your solicitor to ask them to prepare a Legal Pack to include all relevant documentation which once received, will be uploaded onto our website for interested parties to inspect prior to an auction.
03
Marketing
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Once we are ​​instructed, we will prepare draft sales particulars to be sent to you and your solicitor for approval prior to advertising.
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Marketing will be conducted in the following ways: ​
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Our website
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Zoopla
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Lot sale boards (if agreed)
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04
Auction Day
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On the fall of the virtual gavel, a legally binding contract is entered into and the purchaser will be contractually obliged to complete the purchase within the specified timescale outlined in the Special Conditions of Sale.
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The successful bidder's holding fee will be retained as part of the 10% deposit payable under the terms of the auction. We will contact the successful purchaser to transfer the remainder of the 10% deposit and the 1% Buyer's Premium which must be paid within 24 hours of the conclusion of the auction.
05
Completion
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Completion will normally take place 28 days (20 working days) from the date of the auction.
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All parties should refer to the Special Conditions of Sale for confirmation of the completion date as sometimes dates can be varied by the solicitor acting for the vendor.