Join us on the day for the full auction experience. Being creatures of habit, it can be unsettling to try something new no matter how big the benefits but here at Connect UK Auctions we are here to make property buying fun.
Please complete and return the completed Bidders Registration Form, together with your accompanying deposit and proof of identity to [email protected] or bring all stated with you to the auction venue
Car parking is complimentary and upon entrance to the auction waiting area we ask that you input your car registration into the devices provided.
Hot drinks and nibbles are available before the commencement of the auction for you to help yourself to as well as the auction catalogue with any up to date or last-minute changes included. – This may include final amendments for each property. It is important that you read this document before bidding to see if there is any significant new information. The addendum forms part of the contract of sale.
Team members will be on hand at this time to answer any questions you may have at the time as we’d like to ensure your auction experience is a positive one.
The auction will start promptly at the time printed in the catalogue. Do not be phased if you see a camera man and the camera set up, this is purely for the website live streaming of Connect Realtime© and the ‘at home,’ bidders.
Our presenter will introduce the auction and welcome you all, as well as our ‘at home’ viewing to the property and land sale. The auctioneer will then make a number of announcements about the auction procedure. He will also announce any withdrawn and pre-sold lots. Lots are almost always offered in the order in which they appear in the catalogue.
If you are bidding you will have received an auction paddle, specified by number, in which a short raise will notify the auctioneer of your bid.
Our presenter will introduce each lot and refer to any last-minute changes. The current lot number is usually displayed on a large screen next to the auctioneer along with the lot address.
The auctioneer will then invite bids at a particular level and you can make this bid by raising your assigned paddle or hand. You will notice the bids logged and shown on the screen and they will tell you whether the last bid has come from the room or from internet bidders at home.
The auctioneer will regulate the bidding increments until all the bidding is finished. He will give everyone a few moments warning before bringing down his gavel at which point the property is sold to the highest bidder. As soon as the gavel comes down a legal and binding contract is formed between the vendor and the winning bidder.
If a lot does not sell and you wish to buy it, please approach one of our staff and register your interest with us before you leave the room.
Remember, registering for any auction means you have read and agree to the terms and conditions of the sale.
Fill out the form below and a member of the auction team will be in contact to arrange a free, no-obligation auction valuation.
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If you have questions regarding buying or selling at auction or even have a general unanswered question, please fill out the form below and we’ll get back to you shortly, and remember, no question is too small.
Yes – You have three options when it comes to bidding and each will require its own bidding process.
If you are joining us in the room, we can register you on the auction day, at the auction venue. Just ensure you bring along 2x proofs of ID and proof of funds. Please call us if you are unsure on what to bring.
You can choose from two options; bid via Connect Realtime© or via Proxy/Telephone. Both registrations are swift and straightforward and will ensure your ability to bid on your chosen lot.
By law we will require two proofs of ID – one photographic and the other proof of address less than three months old. Proof of funds will also be asked for at the time of registration. Without the above you will not be able to bid.
A buyer’s premium is payable on all property and land lots. This will be payable upon the fall of the gavel as contracts are exchanged. This will be paid at the same time as the deposit if you are the highest bidder on a lot, before leaving the auction venue. The amount payable will be specified in the lot description.
The Purchaser shall pay a deposit of 5% and buyer’s premium of 2.2% inclusive (with a minimum of £5,000.00) and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot.
Of course. Some clients like to arrange their mortgage valuation prior to auction day and others after. Either way, completion can be set at 42 days (6 weeks) from exchange, rather than the normal 28 days, or in fact, anywhere in between. As long as all parties are notified, your timeframe is paramount. Auction offers immense opportunity and allows one to buy, through some lenders, with only a 15% deposit.
Yes. Any offers made before the auction will always be put to the vendor. If you are really interested in a lot then of course a pre-auction offer is a good idea. Ensure you have thoroughly read the legal pack before offering and if the offer is accepted the sale will exchange before the auction and will proceed under the same, auction conditions.
Here you will advise a representative as to your maximum bid by completing our Proxy Bidding form and the auctioneer will bid on your behalf up to your maximum. They will always endeavour to secure the property for you, either at, or below your maximum bid if possible. If the bidding in the room exceeds your maximum, then you proxy bid would end.
Here you will be asked to complete a telephone bidding registration form. This will be based on a first-come, first-serve basis and a representative will bid on your instruction. You will be able to hear the auctioneer in the background and will also be able to watch the auction live in action through our live stream via Connect Realtime©. A representative will call you a few minutes before the specified lot so please ensure you are ready and waiting.
Connect Realtime© is our live streaming of the auction you will access via our website. Giving you the ability to bid from anywhere in the world, in real time. You will create an account with us, login, then register to bid on your chosen lot(s). Once registered, we will send over the necessary documentation for you to complete before approving your bidding. Once approved, come auction day, just login to your account and watch the auction unfold and bid on your chosen lot(s).
These viewings are scheduled in by our team and give you a chance to view the lot and fully inspect your potential purchase. You can choose to bring someone along with you, a builder, or someone who may have extensive property knowledge if you are unsure yourself. A team member will conduct the viewings so there will always be someone there if you have any questions while your there. If the viewing days have finished but there is still a lot of interested, the team will schedule a further viewing.
In the room
After the fall of the gavel you will be asked to sign the contracts. This will be sent to both your solicitor as well as the sellers’ solicitors.
After providing your solicitors and personal details you will be asked to pay the deposit and buyer’s premium on the specific lot. At this point you are legally bound and the amount will be payable by debit card or bank transfer.
Completion will usually take place 28 working days later (or as varied by the Special Conditions of Sale) under the supervision of your solicitor. As soon as the gavel falls, there is a binding contract of sale. The property is at your insurable risk from this point.
Via Connect Realtime, Proxy or Telephone
You will have already signed to say that you are happy for us to sign the memorandum of sale on your behalf to allow the exchange of contracts after the fall of the ‘virtual gavel.’
After this has been done one of our team will be in touch once the auction has finished to take payment of the lot deposit and buyers’ premium. Once this has been completed contracts will be sent to your solicitor as well as the sellers with completion usually to take place 28 working days later (or as varied by the Special Conditions of Sale) under the supervision of your solicitor.
As soon as the hammer falls there is a binding contract of sale. The property is at your insurable risk from this point.
There are a few reasons for this and the most obvious include the following:
This means that you have done everything you can, in terms of research, before committing to a property or land purchase. This may include viewing the property, commissioning a survey, asking a solicitor to review the legal pack etc.
We take debit card or bank transfers.
If you don’t exchange on the date set you will be given what’s called ‘Notice to Complete’ – This will last for 10 days and will incur a daily charge, of which the amount can be found in your contract. Failure to complete at all with result in a forfeit of your deposit as well as your buyer’s premium plus any shortfall once the property or land is re-auctioned and sold.
Auction finance is a service provided by specialist lenders to auction buyers. We have an in-house specialist who can provide advice and finance on the following:
A survey isn’t compulsory, but if you are unsure about the structure or condition of the property then you might wish to instruct a surveyor, an engineer, or a builder for some advice.
But remember, as soon as the gavel falls there is a binding contract of sale. The property is at your insurable risk from this point.
The bidding registration fee is required in order to be approved for bidding. The fee is £2,400 per lot and is deducted from your deposit upon exchange, if you are the highest bidder. If you are not the highest bidder, the bidding registration fee is refunded to you.