Auction Just Got a Whole Lot Easier
When it comes to buying at auction, there’s really one golden rule: due diligence, due diligence, and more due diligence.
If you follow this, you’ll be on the right track. Different opportunities suit different buyers, but taking time to review the legal pack, the home report (where applicable), and comparable sales in the area will help you understand your purchase margins.
We also recommend attending an open viewing, where possible. It’s the best way to familiarise yourself with both the property’s condition and the local area.
If you’re new to auction buying, it’s always wise to seek advice from your legal representative before committing.
Need a Solicitor?
If you don’t currently have one, Brighton & Beck can help. Click here to view our panel of recommended solicitors.
Each firm has been carefully chosen for its speed, cost efficiency, and reliability. Once you’ve completed a short information request, a panel conveyancer will contact you to discuss your options.
What You’ll Need Before Bidding
You’ll need to complete our online money laundering check and provide one of the following forms of identification:
- Passport
- Driving Licence
Accepted buying options include
- Cash
- Bridging finance
Once that’s complete, you’re ready to bid. Happy Bidding!
If You’re the Winning Bidder
Congratulations! If you’re successful, here’s what happens next:
- Buyer’s Premium – We’ll notify you with details of the non-refundable Buyer’s Premium* and how to make payment.
- Deposit – A 10% deposit of your winning bid will be required. Brighton & Beck will hold this and release it to your solicitor 24 hours before settlement.
- Completion Funds – Your solicitor will request the remaining 90% from you in advance, and transfer it to the seller’s solicitor within 24 hours prior to completion.
- Completion & Keys – Once completion has taken place, your solicitor will confirm. At that point, you can arrange to collect the keys to your new purchase**.
Congratulations - It’s all yours
Please see our Terms & Conditions for full details of the Buyer’s Premium.
** Please confirm with your solicitor where keys will be collected from. They may be held by the seller’s solicitor or at Brighton & Beck’s offices. If the latter, call us on 01292 894 823 - Estate Agency, 0800 043 8343 - Auctions to arrange collection.