The auctioneer opens the
sale with any pre-sale announcements.
Bidding is regulated in
increments by the auctioneer: lots are announced
individually and are displayed on a screen on the stage, tracking
the last bid taken.
Bidding: Please
bid clearly and make sure we can see you.
When the gavel
falls: If you are the highest accepted bidder when the
property is knocked down you will be under a binding contract to
purchase it. A member of our team will give you a purchaser's card
which you must complete. If bidding on behalf of someone else we
need their name, address and telephone number. Please double check
the special conditions of sale to establish whether VAT is
chargeable on the property at this time.
Deposit: We also
require a deposit cheque for 10% of the agreed price at this point.
This must be drawn on a UK clearing bank and is generally payable
to the auctioneers, unless otherwise specified in the special
conditions of sale. We do not accept cash.
Buyers Fee: You
may also be asked to pay a buyers fee in addition to a deposit. For
full details please see the hard copy or PDF version of the
catalogue.
Money Laundering
Regulations 2007: Requires that we see two original forms of
identification at this time: your driving licence or passport with
photo ID, and a utility bill or bank statement with proof of
address.
You will then be invited
to complete the memorandum of sale and any other documentation at
our contract table and will receive copies of the signed documents
to give to your solicitor. Completion commonly occurs 20 working
days afterwards when the deposit funds (minus our fees) are paid to
the vendor.