New to Auction?
So you’re new to property auctions and starting to think about investment.
Here’s some practical advice to guide you through the process.
01
Secure your funds-
Decide if you’re a cash buyer or if you’ll need a mortgage or bridging loan. We strongly recommend seeking financial advice before you start.
02
Arrange property viewings-
View the property as many times as you need to feel confident before bidding.
03
Review the legal pack-
The vendor’s solicitor provides a legal pack before the auction. You can download it directly from the website.
We highly recommend that your solicitor reviews these documents, as the auction house cannot give legal advice.
04
Confirm your solicitor’s availability-
Before bidding, check that your solicitor will be able to complete the sale within the 28-day completion period.
05
Making an offer before auction-
If you make a pre-auction offer and it’s accepted by the vendor, you must pay a 10% deposit and the buyer’s premium, with completion in 28 days.
06
Be aware of the risks-
If you do not complete the purchase, you will lose both your 10% deposit and your buyer’s premium.