Chartered Surveyors | Estate Agents | Auctioneers | Residential Letting Agents

 

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Guide to Buying at Auction

The Guide Price

Guide prices are not necessarily a reflection of the value of the property, nor the reserve price, but an indication of the price required by our vendor.  The price achieved at Auction may be more of less dependent upon the demand on the day.

Arranging a Viewing

To arrange a viewing contact the office dealing with the property as indicated on the sales particulars, the website advert and local press advertising.

Legal Pack

The legal packs for each property is available from the office of Scargill Mann & Co or the offices of the solicitors as indicated, mainly in an electronic format.  Hard copies can be made available to you at a charge of £25 plus VAT, or you or your solicitors are free to read the contract at your leisure at one of our offices.

Financial Requirements

The successful purchaser on the day of the Auction is legally bound to pay a deposit based upon 10% of the sale price achieved, plus a buyer’s premium of £250.  The deposit should be made by cheque or Bankers Draft.  Please note we do not accept cash.  All cheques should be made payable to Scargill Mann (Derby) Limited.  It is advisable to arrange all finances prior to bidding.

Statutory requirements

You are advised that due to Money Laundering Regulations you are required by Law to produce documentation to confirm your proof of identity and address, such as photographic ID through a Passport and Driving Licence and either a utility bill, issued within the last three months or Driving Licence showing your address.  Copies will be taken before the auction commences.

Pre-Auction Enquiries

The contract for sale and other documentation will be made available prior to the date of the Auction and it is the Purchaser&rsquo responsibility to check all the documentation and make their own inspections and surveys prior to the date of the Auction.  It is important the Purchasers read the conditions of sale including any special conditions attached thereon to the property.  You are advised to have a solicitor to act on your behalf.

Properties sold prior to Auction

On some occasions the Lots to be offered for sale can be withdrawn or sold prior to the Auction.  We therefore strongly advise that you check any properties that you are interested in and their availability prior to attending the Auction.

Pre-Auction Bids

If for any reason you are unable to attend the Auction, it is possible still to make a bid.  Arrangements can be made for telephone bidding subject to prior arrangements with our office.  For further information please contact the Auctioneer direct.

Acceptance of my Bid

If your bid is the final bid and is formally accepted, one of our team members will escort you to the signing area where you will be asked to sign the contract documentation and pay the necessary deposit and buyer’s fee.  We also remind you on the fall of the hammer it is the Purchaser’s responsibility to insure the property.

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