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Buying Property at Auction
Selling Property at AuctionGuide to selling at auction
If you are unable to attend the Auction Room on the day of the Auction, you are able to bid by Proxy. You will need to read through the Proxy Bidders Terms & Conditions and then download and complete the Proxy Bidding Form and send to Venmores, Imperial Buildings, 9 Dale Street, Liverpool, L2 2SH, together with a cheque for your deposit.
If you are unable to attend the Auction Room on the day of the Auction, you are able to bid for a lot via the telephone. You will need to read through the Telephone Bidders Terms & Conditions and then download and complete the Telephone Bidding Form and send to Venmores, Imperial Buildings, 9 Dale Street, Liverpool, L2 2SH, together with a cheque for your deposit.
Many residential properties at auction are sold subject to an existing tenancy; you can download a brief outline to the various types of tenancies you may find in an auction below.
Making an Offer for an Auction Property.
Our Clients have agreed that only pre-Auction offers of a reasonable level in relation to the Guide Price figure will be submitted for their consideration. Offers must be in writing and will be considered under the assumption that the property has been viewed, the legal documentation inspected and any relevant searches or surveys have already been carried out.
Pre-Auction offers will be on the basis of an immediate exchange of Auction Contracts upon acceptance by the Seller with the Buyer providing the full 10% deposit and Administration Fee, and having the ability to complete within 28 days of exchange. We will only contact you prior to auction in the event that the owner has accepted your offer. Any offer will be assumed to be your best and final offer and we cannot guarantee that you will be invited to increase your bid in the event of an alternative satisfactory offer being received prior to exchange.
Not all vendors will accept offers prior to auction, however in the event that a property does not sell on the day of the auction we will contact any party that has submitted a pre-auction offer, beginning with the highest received prior to auction. Again we will assume that any offer is your best and final offer.
Offers must contain the following information:
• Name of buyer
• Address of buyer
• Phone number of buyer
• Lot Number of Property for offer
• Address of property for offer
• Amount of offer in words
• Amount of offer in figures
Offers can be sent via email to [email protected] or by completing the offer submission form and posting to Venmore Auctions, Imperial Buildings, 9 Dale Street, Liverpool, L2 2SH.
Buying at auction:
We would advise that all prospective purchasers find out as much information as possible before bidding on a property.
All properties for auction will be advertised with a guide price, this is an indication of the price the vendor is expecting to achieve and not necessarily the figure at which a property will sell.
We would advise that all prospective purchasers arrange to view any lots they are interested in and viewings can be arranged by contacting the auction team via email or on 0151 236 6746. Please note certain that we may not have access to certain properties and viewings will be external only.
All properties will be sold subject to the RICS Common Auction Conditions and any Special Conditions of Sale contained within the Legal Documentation which will be provided for each Lot to be sold at auction and this can be viewed online or at the auctioneer's offices in the run up to the auction, subject to it being received from the Sellers solicitors. Please contact 0151 236 6746 for further information.
If you require a survey to be carried out on a lot, we would ask that you arrange for your surveyor to contact us direct to make arrangements for access.
If you are arranging finance to purchase a property, we would advise this is done in advance of the auction date as many lenders will require a survey to be carried out. Once a property is purchased completion is usually within 28 days and you should discuss this with your lender to make sure it will not cause a problem.
Offers can be made on all lots prior to the auction date, you can make offers via email, in writing or over the telephone, you are not tied into any offer placed prior to auction unless it is accepted and exchange of contracts occurs. All offers will be submitted to the sellers for their consideration. If an offer is accepted prior to auction you will be expected to exchange contracts immediately with a 10% deposit. Once exchange has occurred the property will be advertised as Sold Prior and will not be offered in the auction room.
We offer proxy and telephone bidding for bidders who are unable to attend the auction venue. The proxy and telephone bidding forms can be found on the website or in the auction catalogue.
We advise that potential purchasers contact the auction department on the day of the auction to establish if the lot(s) they are interested are still available as properties can be sold or withdrawn right up until the day of the auction.
We strongly recommend that all potential purchasers check that they have read and understood all the legal documents and terms and conditions for each lot they are interested in.
Upon the fall of the gavel in the auction room a binding contract is made between the Seller and buyer. The successful bidder will be approached by a member of staff to come to the front to exchange contracts and pay the 10% deposit. Completion is usually 28 days thereafter unless varied in the special conditions.