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First time attending an auction? Read on…

October 24th, 2018

First time attending an auction? Not to worry!

Attending an auction for the first time can be an unnerving experience, but there is no need to panic, we have made the process as simple as possible, so you can relax. You only need to bring three things to the auction:

Two forms of ID (one form of photographic ID e.g. Passport or Driving Licence and one proof of residency dated within the last 3 months e.g. utility bill, bank statement or Council tax bill)
Your solicitors’ details if you have them (if you haven’t decided who you will be using by the time the auction takes place we will need them as soon as possible following the auction if you are successful)
Your payment method e.g. debit card/bankers draft. It is possible to pay your deposit with a personal cheque however this will need to be agreed by prior arrangement.

When you first arrive at one of our five venues you will need to register to bid at the Registration Desk. It’s a simple process that normally takes around 5 minutes. Once you have registered you will receive your unique bidding number, you can use this at any future auctions as long as your details stay the same, meaning you don’t have to register every auction you attend.

Once registered you can grab a drink and wait for the auction to start. Feel free to talk to one of the exhibitors at the auction who can provide you with a quote if you require one. Once the auction has commenced a simple raise of your bidders’ number is enough to let the auctioneer know that you wish to bid. If you are the successful bidder, you can make your way to the Clerk’s Desk where you will meet one of our team, pay the 10% deposit and administration fee and sign the Memorandum of Sale.

Why buy/sell at auction?

Benefits for sellers

Competitive bidding could lead to your property achieving a higher price than you anticipated.
You can set a reserve price for your land or property. The reserve price is the minimum figure you can expect if the property sells.
We promote your property through our catalogue and online portals such as Zoopla, On the Market, Rightmove and PrimeLocation providing expansive marketing across the country.
The hammer seals the deal. Once the hammer drops that marks the final price and exchange of Contracts. The purchaser will pay a 10% deposit and completion normally takes around 20 business days following the auction date.

Benefits for Buyers

Speed - once the hammer falls, you’re the successful purchaser and exchange of Contracts takes place.
Transparency - our aim is to find as many bidders for each property as we can. For buyers, this means that you have the confidence that you can see who you are bidding against and you all have an equal chance of success.
If you cannot attend the auction there are different ways to bid: