Step 1: Create your Online Account
Go to the lot you are interested in and click on “Log in / register to bid”. Follow the step by step process to complete your account to bid on the lot. Once you have set up your account you will be able to download the legal pack.
In order to authorise you to bid and comply with UK money laundering regulations, we need to confirm your identity and residential address. You will be sent a link via text, or email to do this remotely via the Credas mobile application where you can upload either a photo of your passport or driving licence. Once you have successfully completed this step, you will need to read and accept the Online Auction ‘Terms and Conditions’ and enter a valid debit or credit card to your account and request Auctioneer Authorisation. We will then send you an email confirming our approval for you to bid.
Step 2: Download the Legal Pack
Before bidding we recommend that you thoroughly satisfy yourself with the lot that you are interested in by reading the legal documents and consulting with a solicitor or licensed conveyancer. You can download the legal documents by clicking on the lot you are interested in, then click the link labelled “Log in to view legal documents”. All the information we hold relating to the property is detailed in the legal pack. If the legal documents are not available when you look, we will email you as soon as we receive it from the sellers’ solicitor.
Please remember that when you bid, it is on the basis that you have accepted all the terms and conditions contained in the legal documents, whether you have read them, or not. Any questions you may have relating to the contents of the legal pack, must be submitted by email to auctions@lrg.co.uk
Step 3: View the lot
You should always view the lot you wish to bid on. Whenever possible we will try to provide a virtual tour which can be viewed using the link provided on each individual lot. Internal viewings will be held on a block basis on the dates and times listed in the property details and conducted in accordance with the current guidance on social distancing, PPE must be worn at all times. Please call 01344 753120 to book an appointment.
Step 4: Surveys and Mortgages
We do not investigate the structural integrity of the lots we are selling, if you need to arrange a survey please ask your survey company to contact us and we will arrange access for them.
If you need to arrange a mortgage it is important that you obtain an offer from your lender in principle before the day of the auction. Most building societies and banks will instruct a surveyor to prepare a valuation report before making a mortgage offer. We advise all bidders who require a mortgage to confirm with their Financial Advisor as to whether or not the lot you are interested in would be suitable security to borrow finance against, prior to bidding. For further advice please call Romans Mortgage Services on 01344 753 100.
Step 5: Find a solicitor
Prior to bidding at the auction we would advise you make enquiries with a solicitor who can complete the purchase for you. Please be mindful of the completion time frame required when making your enquiry. For further advice and a quotation, you can contact Emily Jones of The Head Partnership at e.jones@thpsolicitors.co.uk
Step 6: Auction Day
Providing you have completed your Online Account and your photo ID has been verified you will receive an email from the Auctioneers authorising you to bid. Bidding normally opens at 10:00 AM on the day of the auction and you can place bids on any of the lots for sale. The time the auction ends is indicated on each lot individually. Lot 1 is timed to end at 1:00 PM and the following lots are then timed to end at 10 minute intervals. Please check the “Auction End Date” for the lot you are bidding on.
Step 7: Fall of the gavel
If you are the highest bidder when the auction ends contracts are exchanged between you and the seller. Both parties are legally bound to complete the transaction as per the Special Conditions in the Legal Pack. Your card will be automatically debited for the bidder security amount of £5,000 and we will require the remaining balance for a 10% non-refundable deposit and the buyers charge of £1,200 including VAT, to be transferred within 2 working days of the auction. We will contact you after the auction has finished to make these arrangements. If you then decide to nominate additional buyers after the auction ends we will require their photo ID and proof of address, using the Credas mobile application. If this is not provided you will be noted as the bidder and the buyer on the sale memorandum.
Step 8: Completion
Completion normally takes place 20 or 30 working days after the date of the auction, as per the special conditions of sale. Completion is when the remaining balance of the purchase price is paid to the sellers solicitors. Access to the lot, prior to completion will not be permitted unless a key undertaking is arranged via both parties’ solicitors. You may be liable for any costs incurred. Once the sellers’ solicitor has confirmed the balance of payment and any other charges has been received, the keys will be made available for your collection.
Meet your auction experts
Simon Clayton
Manager and Auctioneer
Simon has worked in the property industry for over 30 years and is a qualified member of the National Association of Valuers and Auctioneers.
Gareth Bell
Auctioneer
Gareth has worked in the property industry for over 25 years. For 17 years he has worked as an auctioneer overseeing residential and commercial disposals.
Daniel Gale
Surveyor
Daniel has worked in the property industry since 2006. He has considerable experience in both residential and commercial property.