Before the Auction
We would advise that all prospective purchasers find out as much information as possible before bidding on a property. It is best practice to carry out your due diligence prior to bidding.
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 we may have limited / no access to certain properties and viewings may be external only.
All properties will be sold subject to the RICS Common Auction Conditions and Special Conditions of Sale contained within the Legal Documentation. This is provided for each Lot to be sold at auction and this can be viewed online, subject to it being received from the Seller's 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. We are able to provide you with a quote for an independent survey, please speak to a member of the team for more details.
If you are arranging finance to purchase a property, we are able to introduce you to specialist advisers who can assist in all areas of auction finance. 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.
In line with Anti-Money Laundering Regulations, we are duty bound to carry out the following on everyone who offers, bids or buys at auction:
a) due diligence on all of our clients to confirm their identity. To do this we will require sight of documents that prove your name and address. These need to be the original documents or certified copies. This can be a valid Passport / Driving Licence and a proof of address document dated within the last 3 months ie valid Driving Licence (if not being used to evidence Proof of ID), utility bill ( not mobile phone) or a letter from the Tax Office of Bank. In the case of multiple ownership, all parties would need to provide the relevant documentation.
b) determine whether our clients, family members, or close known associates are Politically Exposed Persons (PEPs). In order to do this we require a PEP Declaration to be completed by all clients. Please see the PEP Declaration for full details.
If you intend to bid by Telephone / Proxy bid – we will require this information before the day of the auction. If we do not receive Certified ID and the completed PEP declaration, we will be unable to bid on your behalf at auction. If you are going to attend to bid in the auction room, please bring all items with you on the day, to show our team when you register. Please see the Money Laundering Notice and Registration form.If you are a successful bidder we carry out further checks on an electronic verification system. This system allows us to verify you from basic details using electronic data, however, it is not a credit check of any kind so will have no effect on you or your credit history. You understand that we will undertake a search with Experian for the purposes of verifying your identity. To do so Experian may check the details you supply against any particulars on any database (public or otherwise) to which they have access. They may also use your details in the future to assist other companies for verification purposes. A record of the search will be retained.
On Auction Day
We advise that potential purchasers to check www.venmoreauctions.co.uk 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 start 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 electronic gavel, a binding contract is made between the Seller and Buyer. The successful bidder will be contacted by a member of staff to finalise the purchases and pay the 10% deposit and non-refundable buyers fee of 1% + VAT (1.2% incl of VAT) subject to a minimum of £1,500 + VAT (£1,800 incl of VAT). Completion is usually 28 days thereafter unless varied in the special conditions.