Top 10 Tips for Preparing for Auction Day!

We often get asked what do I need to do before the day of the Auction so here are our top 10 tips for you to help you prepare!

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We often get asked what do I need to do before the day of the Auction so here are our top 10 tips for you to help you prepare!

1. Check the website for available lots

The quickest way to find out about lots is to keep up to date with the listings as they appear on our website:

Auction House Manchester

Auction House West Yorkshire

Are your local Auction Houses!

2. Keep checking the website for viewing dates

For properties where viewings are available we usually offer open viewing dates which are published on the website. The houses are open for 30 minutes and you can just turn up to view, there is no need to book!

3. Look at the legal packs before the Auction Day

Legal packs can be downloaded on the Auction House website as soon as they are available and it is also possible to register your interest in any lots there too. The legal packs include (where applicable) copies of special conditions of the sale, title deeds, leases, office copy entries, searches and replies to pre-contract enquiries.

4. Decide how you are going to bid on the day

You can bid at the Auction either in person by attending the Auction, making a proxy bid ahead of the Auction or by arranging a telephone bid in advance of the Auction. A proxy bid allows you to submit a bid in writing on a proxy bidding form and authorise Auction House to act for you. The bidding is made in increments as the auction progresses up to your maximum bid. They do not automatically offer your maximum amount and will try and buy the property for you at the lowest amount possible.

A telephone bidding service is also available to those unable to attend, but you will need to make the necessary arrangements with Auction House prior to auction day. You bid on the property during the auction whilst on the telephone to a member of the Auction House team. We will call you a few minutes prior to your chosen property being offered for sale and repeat the Auctioneers words to you and you instruct the team member when and how much you wish to bid.

5. Arrive at The Auction in plenty of time to register

On arrival at the auction venue you will need to register at the registration desks where you can collect a copy of the auction catalogue, your paddle ready to bid and an addendum sheet for news of any last minute sales, withdrawals or material alterations. Registration desks are open one hour prior to the start of the Auction and we advise getting there in plenty of time to register ensuring you do not miss your lot!

6. Don’t forget to bring TWO forms of ID

If you are planning to make a bid at the Auction you are required to bring two forms of Identification to the Auction. This must be one form of photographic identification such as a current valid signed passport, current valid signed photo-card driving license, valid identity card etc. The second form of identification must be proof of address such as an original utility bill less than three months old, an original council tax bill less than three months old, and original mortgage statement for the account year just ended, original bank statement, credit card statement less than three months old etc.

7. Deposit and buyers admin fee

If you are the successful bidder you will need to pay a 10% deposit (subject to a minimum £3,000) and our Administration Fee which is 0.5%+VAT (subject to a minimum £500+VAT). Some lots may also have additional Buyer’s Premiums, these will be clearly displayed on the property’s catalogue page and on our website. Please check whether or not the lot you are interested in has a Buyer’s Premium before bidding. Payments can be made by debit card, cheque or credit card (subject to 3% charge). We are unable to accept cash. For advice on any other means of payment please contact us to discuss.

8. Solicitors

As any successful bidders will be entering into a legally binding transaction you will need to provide us with solicitors details on the day of the Auction. Solicitors do attend the Auction sale so we can help you with this on the day if you do not have any solicitors in place.

9. Completion Dates

You will usually have 28 days to complete your auction purchase, however, we strongly advise you to check the Special Conditions contained within the Legal Pack as some lots may have a shorter or longer timeframe. PLEASE NOTE THAT ONLY CLEARED DEPOSITS (DEBIT CARD) ARE ACCEPTABLE ON LOTS WITH 14 DAY COMPLETION DATES- WE WILL NOT ACCEPT CHEQUES.

10. If the lot you are interested in doesn’t sell

Don’t worry if the lot you are interested in doesn’t sell on the day! You can still make a post Auction bid on these lots. Just speak to a member of the Auction team who will be happy to help.

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