A proxy bid allows those who can’t attend the auction in person to be able to bid on the phone through one of Connect UK’s representative.
Welcome to Connect UK’s Auction Academy – Here to answer all your property auction questions.
Here’s what you’ll need to do in order to proxy bid.
This process of buying will require you to complete a registration form which will advise a representative as to your maximum bid on your chosen lot.
Connect UK representative will then bid on your behalf up to your maximum bid.
However, If the bidding in the room exceeds your maximum then you proxy bid would end.
If you are successful and your bid is the highest, a representative will sign the contract on your behalf in order to exchange.
Once the auction has finished a member of the team will be in touch to give you the great news. You are then required to pay your deposit and any administration/legal fees or buyer’s premium.
Check out our other videos where we discuss the telephone bidding.
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