Selecting the Property
The auction catalogue & website contains a brief description of each property on offer. Once you have decided upon your desired property, you should contact the auctioneer to register your interest & see if any further information is available. The Guide Price should give you an indication of what a particular property may be expected to fetch, but this is simply the auctioneer’s estimated value.

Viewing
The viewing arrangements for each of the properties on offer are listed in this catalogue against each lot. If open viewing dates are set for the property then select a date/time which suits and register to attend on-line or by calling our office. You should view the property as soon as possible to give yourself time to make all other necessary arrangements and be sure that the property suits your needs.

Once you have selected a property you would like to bid on at the auction you should contact the following people PRIOR TO THE AUCTION and make the following arrangements…

Your Solicitor You should advise your solicitor immediately of your interest and let him have a copy of the auction catalogue. He will require to check the general conditions of sale and apply for a copy of the special conditions of sale which may be relevant to the particular lot. See Legal Packs…

Benefits of Buying at Auction...

• Equal Opportunity - The property is available for sale on a set day for all interested parties so everyone can have an equal chance of buying

• No Over Bidding – You will only ever pay one bid higher than the under bidder compared with traditional closed tender where the winning bidder may be substantially higher than the under bidder.

• Safe Purchasing - There is no danger of the vendor 'pulling out' as the contract of sale is binding as soon as the gavel falls.

• More Choice - Auctions often offer a wider range of properties and can include repossessions or properties in need of renovation or modernization.

Arranging a Mortgage
If you require a mortgage to assist you in the purchase of property you should see the lender from whom you intend to borrow.

Your Surveyor If you require a mortgage to assist you in the purchase of the property then you will require a surveyor to visit the property prior to the auction. They will indicate to you whether the property is suitable for mortgage purposes & if there is likely to be any additional costs such as renovation and repair works.

PLEASE NOTE: It is strongly advised that if you require a mortgage to assist you in the purchase of the property that you get a survey carried out prior to the auction date as there is no guarantee that access will be available after you buy the property at auction.

Insurance of the Property
If your bid for the property at auction is successful the risk of damage or destruction to the property immediately passes to you on the date of the auction even though legal completion date may be some time later. You should therefore arrange fire and building insurance cover.

Notes of Interest
If you are interested in a particular property you should register your interest with the auctioneers so we can keep you up to date with any new information.

Legal Packs
For every lot that appears in our auction catalogues, we ask the vendors' solicitors to provide us with legal information. This will generally include:

• Special Conditions of Sale,
• Title Deeds, Office Copy Entries,
• Searches (if applied for),
• Leases (if applicable),
• and any other pertinent information.

You can request a Legal Pack prior to the auction. Legal Packs cost £20 per issue. To order please phone reception on 01294 833444. Legal packs are always available for inspection on the day of the auction in the auction hall from approx. 6pm onwards.

At the Auction
This catalogue provides details of where and when the auction is being held. You should arrive early at the auction and register to receive a bidding number. 2 forms of photo ID will be required to obtain a bidders number. You should also check in the auction room prior to the auction commencing to see if any amendments have been issued by the auctioneers.

Deposit
If you are successful in purchasing a property at auction you will be required to pay a deposit on the date of the auction, prior to leaving the auction room so you should certainly organise this deposit in advance. The deposit is payable by cash, bankers draft, debit or credit card. (Cheque accepted only by prior arrangement with auctioneer). The standard deposit is 10% or minimum of £3000. A vendor may request a higher deposit so please check the special conditions to see if a higher deposit applies to your property. An administration fee of £335 +vat is also payable at this time to Wilsons Auctions. No buyers premium is payable with regards to land & property auctions.

Completion Date
The standard completion time is 28 days from the auction date. At this time you will be required to pay the balance of the auction amount through your solicitor. A vendor may request a quicker completion so please check the special conditions to see the completion time which applies to your property.

Auction Contracts
If you are successful in purchasing a property at auction you will be required to sign the legal paperwork for the purchase of the property. A copy of all paperwork will be sent on to your solicitor the next day. Please contact your solicitor to ensure they have received this paperwork & have everything in hand.

If you are unclear regarding any of the points above please contact our office & speak to one of our staff. Tel. 01294 833444

© Wilsons Auctions