Guide Prices - These are listed on a separate sheet in the catalogue and are a general indication of the current level of the vendor’s intention as to the reserve price. The sale price is usually expected to exceed the guide price and prospective purchasers should check with their auctioneer
Proxy/Telephone Bidding - If you are unable to attend the sale you can arrange to bid on the phone, on the internet or via a Proxy Bid.
Finance - It is always best to arrange your finance with your bank or building society and have the property surveyed if required. Special arrangement for surveyors can be made by contacting your auctioneers directly. A number of financial companies who specialise in auction properties advertise across the market and i can point you to a few.
Offers - Generally sellers are prepared to consider pre-auction sales and offers can be made by phone, fax, e-mail or in writing. Offers should be unconditional and you should ensure that you are in a position to exchange contracts. Acceptance is at the discretion of the vendors and if accepted there is no commitment on either side until a legal binding contract is exchanged and a lot will not be withdrawn from the auction until then.
Remember these tips when buying property at an auction and you should be in good sted to win your dream renovation property
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