FAQ

Bids can be placed on Lots before the auction commences. It is up to the vendor whether or not they accept the bid. If you are interested in an unsold lot please contact us.

To pay a deposit or a reservation fee on lots we accept:

• Cleared funds banked with The Auction Group Ltd prior to the auction. These would be refunded the day after auction if unsuccessful

• We do not accept cheque payments

Yes. We would strongly recommend viewing any properties before placing a bid

Yes. If you would like to have a survey carried out or need one to obtain a mortgage, you can arrange to have one done prior to the auction.  Please be aware that on the fall of the virtual gavel exchange of contract will take place  immediately so you must have your finances in place prior to bidding. Please speak to our specialist finance providers if required

A reservation fee applies to any properties marketed with The Auction Group. The seller has elected to sell their property under these terms and conditions and an additional fee applies separate from the purchase price

Current HMRC policy is that the chargeable consideration (monies or monies worth) for a land or property transaction is what has been given (either directly or indirectly) in order to acquire the subject matter (i.e. property) of the transaction, by the purchaser or a person connected with them. This includes fees which have to be paid in order to acquire the property. This means that whatever the buyer pays, it will form part of the purchase price for the property and it will be included in their liability for Stamp Duty. In all circumstances we would recommend discussing this with your chosen Solicitors prior to committing to a bid

The Reservation Fee is held by The Auction Group to reserve the property to the buyer and show their commitment to the purchase. It is later used to cover the auction fees for the seller, paying the Listing Agent and Auctioneer who work in partnership to provide the auction

Once the hammer has fallen on a property you are legally bound to complete the sale. With conditional lots you would forfeit your deposit but would not be bound to continue with the purchase

A legal pack is produced by the seller’s solicitors for interested applicants to view ahead of bidding. These packs will be available on all lots marked (U) & (UR). They contain copies of searches, title documents, leases, special conditions and any other necessary documents to allow immediate exchange of contract