This guide gives useful information as to what to do before, during, and after an auction. We strongly suggest that anyone thinking of bidding reads the following:
1. The particulars are intended to give a brief description of the properties included in this auction. Appointments to view can be arranged via the Meller Braggins office specified. Prospective purchasers will be deemed to have inspected the property they are interested in before bidding.Where the details state “External viewings only” there will be no access provided to the property either pre-auction or between the auction and the completion date. We would recommend that lots which cannot be inspected, whatever the reason, might be unsuitable for buyers who do not regularly deal with such properties, as there is always the risk that they might not be exactly as described. Access to the roof void, cellars, and other hard-to-reach areas, whether or not there are ladders/steps present does not form part of the normal viewing process.
Prospective buyers are advised to engage a surveyor to carry out these inspections. However, should the buyer wish to carry out these inspections then they do so entirely at their own risk, and accept full responsibility for any damage caused, and may be asked to sign a disclaimer.
2. The Auctioneers have not tested any apparatus, equipment, fittings or services so cannot verify that they are in working order. The buyer is advised to obtain his own verification. Any plans or photographs published are for the convenience of prospective purchasers and do not form part of any contract.
Any items shown in the photographs are not necessarily included. No representation or warranty is made in respect of the structure of the property nor in relation to the state of repair thereof. The Auctioneers advise that prospective purchasers should arrange for a survey of the property to be undertaken by a professionally qualified person prior to bidding. Reproduction of maps should not be assumed to be to any specific scale: boundaries and all area calculations should be assumed to be approximate.
Purchasers who require finance in order to buy should ensure that they have an unconditional offer from their lender before signing any contract. Some of the lots offered have not always been in ownership for six months and as such this can have an impact on which lender to use. We recommend you speak to one of our whole of market mortgage advisors on 0161 532 3510.
3. The properties included in the online catalogue are all to be offered for sale by Public Auction unless previously sold by private treaty.
Pre-auction offer(s) will only be considered once received in writing by the Auction Department. They are then conveyed to the vendor in writing, and you will only be notified if the offer is accepted. Should you not hear from us, it is safe to assume that your offer was rejected and the property is still going to auction. All pre-auction offers will be assumed to be your best and final offer and no guarantee can be given that you will be invited to increase your bid in the event of an alternative acceptable offer being received prior to exchange.
4. All properties are offered subject to the Common Auction Conditions, extra and special conditions, or by an addendum. Ask for a copy of our Common Auction Conditions. The extra and special conditions, along with addenda, are available for inspection by appointment with the Auction Department prior to sale day.
The legal pack for each individual property is available for inspection online. If you are unsure how to utilise this documentation, we recommend you take the advice of a solicitor before joining the auction, as all prospective purchasers will be deemed to have inspected the legal packs and made the usual pre-contract enquiries before bidding or signing contracts either pre or post-auction. In particular, we would recommend that enquiries be made of the relevant Local Authority, as the local searches that are given to us may not always contain up-to-date information regarding regeneration strategies and associated compulsory purchase schemes.
5. Intending purchasers are advised to check all documentation and take advice upon the exact nature of domestic tenancies on properties in which they are interested prior to bidding. Tenants who occupy Regulated Tenancies almost undoubtedly have their security of tenure protected. Others, on Assured Shorthold Tenancies, will only have limited protection.
Would-be purchasers should assure themselves that the documentation has been completed as they expect, since the auctioneers were not party to the original lettings and cannot, therefore, certify the descriptions as correct. Where the online catalogue states that we are “awaiting sight of tenancies”, buyers should check with Meller Braggins that these have been received prior to bidding on the property.
Please note that it is not always possible to arrange access for surveyors to inspect properties that are tenanted, and it is therefore imperative that prospective buyers who require finance enquire about access before bidding at auction.
6. Guide prices are provided as an opinion only and are not to be taken as the reserve price, which may or may not be the same as the guide. These can be subject to amendment at any time. The reserve price is the lowest price the vendor will accept. This is agreed upon between the vendor and the Auctioneer. This is also confidential and not disclosed to any parties.
Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for a lot may exceed the previously quoted guide price – as the seller may fix the final reserve price just before bidding commences.
*Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the guide range or no more than 10% above a single figure guide.
7. If you are not able to attend the online auction, then you may bid by instructing the Auctioneer to bid on your behalf by Proxy. Contact the auction department for a Proxy bidding form which needs to be completed and returned to the auction department together with a cheque representing 10% of your maximum bid (minimum £3000), at least 48 hours before sale day.
8. The Auctioneers reserve the right to amend the property lot order at any time prior to the sale.
9. If there are any Addenda to the online catalogue, these will be announced prior to the commencement of the sale and interested parties will be notified via email. Purchasers shall be deemed to purchase with full knowledge of this information.
10. You will need to have created an online bidding account to enable to you bid along with bidding tokens. See our Online Auction Buying Guide | Unconditional Sale for how you do this. Please read carefully and complete all areas of the auction registration.
11. The auctioneer reserves the right to bid up to the reserve on behalf of the vendor.
12. The fall of the virtual hammer on your bid indicates that you have successfully won the bid, the transaction now becomes legally binding. A member of the team will be in touch to discuss the next steps but our auction platform immediately after the end of the auction signs the contract on your behalf and sends a copy to your solicitor and the seller's solicitor
A deposit of 10% of the purchase price (minimum £3,000) is payable along with the buyer's premium minus the token amount of £5,000. Completion usually takes place 28 days from the date of exchange. Deposits must be paid by debit or credit card (we will not accept American Express), banker’s draft, building society cheque, or bank counter cheque. Personal cheques can be used if accompanied by two forms of identification (i.e. driving license, passport, or utility bill). Failure to do so may result in the property being re-offered for sale.
Please note that any cheque returned unpaid by the bank, whether represented or not, will incur a charge of £25 which will be billed to the originator of the cheque.
13. A Buyer’s premium is payable Buyer or his/her agent for each lot purchased, at the same time as, and in addition to, the contractual deposit. This can be paid separately or added to the deposit. In addition, some lots may have additional/supplementary administration charges applicable that are payable on the day of sale. All of these are outlined in the legal pack and interested parties.
14. Keys will not be released on any property until completion has taken place. Should keys be required before the agreed completion date, then the buyer will have to arrange the usual key undertaking via their own solicitor, or alternatively, affect the completion early.
If you have any further queries please do contact our auction department on 01565 656544.