AUCTION – FAQ
- An auction demonstrates free and fair competition enabling the purchaser to buy at a price that is fairly achieved against other known bidders.
- If you are the successful bidder you know that the vendor cannot withdraw and the property is yours on completion, which usually takes place 28 days after the auction.
THIS IS CONFIDENTIAL AND NOT DISCLOSED TO ANY PARTIES, UNLESS OCCASIONALLY A “DECLARED RESERVE” IS PUBLICISED.
Successful bidders will also have to pay the BUYERS ADMINISTRATION CHARGE, currently £750including VAT, prior to signing the Contract. Cheques may be presented for Special Clearance the day following the Auction.
In the event of the Buyers Administration Charge not being paid at the auction then the auctioneer is authorised to take this administration charge from the deposit paid. The balance then to be paid on completion will, therefore, be increased appropriately.
Do not forget to bring along your photo ID such as Passport or Drivers Licence
Do not leave it too late or you could miss out!