buying at auction – an exciting opportunity Auctions offer a whole range of different and exciting property opportunities – why not see what is on offer? can I bid on the telephone? Yes – please download the telephone / proxy bid form from the Buying and Selling Guide section or call the office at least 48 hours in advance of the auction. should I have a survey?
It may seem a daunting process to buy in a saleroom but if you follow these guidelines it is a very straightforward and enjoyable process. Do not be afraid to ask for guidance from us – we are there to help you. can I attend an auction to see what happens? An auction is a public event you are most welcome to attend. We recommend that anyone thinking of buying by this method attends auctions in order to familiarise themselves with the process. how do I find out about new properties? Join our mailing list by either calling the office or send us an email via our website. how do I view the property? Viewings will be arranged and times published. You can view at these times without making an appointment. Arrive early to take advantage of the maximum viewing time. what is a price guide? A price guide is published to give an indication of general price bracket in which the property is likely to be sold. Watch our website or ring for further information – this may be adjusted as the sale date approaches. what is a reserve price? The reserve price will be given to the auctioneer by the vendor. Unless this figure is reached the auctioneer cannot sell the property. This figure is generally not revealed. can I make an offer? Sellers will sometimes accept an offer prior to the sale if they feel a satisfactory figure has been offered. Please be aware that the property will continue to be marketed until contracts have been exchanged. Please check that the property is still available as hollismorgan will not be held liable for any abortive costs.
We strongly advise you to have a structural survey prior to the sale by a suitably qualified person. We will be pleased to arrange access to carry out their inspection outside the set viewing times. what is a legal pack? A legal pack is prepared by our clients solicitor and is available to download via our website. will I need a deposit? You will need to bring a cheque or bankers draft to the auction for the deposit of 10 % of the buying price (minimum £2,000) which is payable to our client’s solicitor. CASH IS NOT ACCEPTABLE . is there a Buyers Premium? You will need to bring a separate cheque to the auction payable to hollis morgan for £750+vat (total £900). do I need ID? You will need to bring photographic identification with you on the sale night. See our separate download for full details . can someone bid on my behalf? Someone else can bid for you. They should make themselves known to the auctioneer prior to the sale. They must be prepared to sign the contract on your behalf and pay the required deposit. They must also bring ID with them. three essential things to prepare for an auction SURVEY – Organise a survey
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FINANCE – Organise your finance
LEGAL – Ask your solicitor to check the legal pack and ask for any additional enquiries to be answered prior to the sale. Good luck and happy bidding!
You can download the full Buyers and Sellers Guides from our website www.hollismorgan.co.uk
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Hollis Morgan Auction Terms and Conditions apply. © Hollis Morgan Property Limited 2016
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