Frequently Asked Questions - Buyers
How are we different?
auctionmove.co.uk offers live, continuous property auctions with bidding on each lot lasting upto four weeks. Buyers can bid at any point during the auction period.
How can I place a bid?
Potential bidders first need to register with auctionmove.co.uk.
What happens after the auction ends?
You will be notified via email whether or not you have won the item. If you are the winning bidder, see below. If you were not successful, we will provide you with information on similar available properties.
What happens if I successfully win a property?
If you are the highest bidder and the reserve is met, you win the property and are obliged to buy the lot for the winning bid price in line with the associated terms of the sale memorandum.
You are required to transfer the deposit monies (usually 10% unless stated otherwise on the lot particulars) to us via same day bank transfer by the end of the working day. Details of our HSBC Client Holding Account will be sent to you via the winning bid email alert and can also be found within your My Account page of the website.
You are also required to pay our buyers fee of upto 3% of the final sale price plus VAT. You may pay by credit card or debit card through the secure HSBC payment portal, details of which will also be within your winning bid email alert or found within your winning ‘My Account’ page of the website.
How do I sign and return the sale memorandum?
Once you have become a winning bidder you are legally obliged to complete, sign and return the sale memorandum. You will receive this via your winning bid email alert or within your ‘MY Account’ page of the website.
You will be required to print the sale memorandum, sign and return by fax or scanned e mail by the end of the working day. If you do not have access to either then you must ‘Contact Us’ to agree an alternative method, by the end of the working day.
How does auctionmove.co.uk get paid?
auctionmove.co.uk charges the buyer a fee of upto 3% plus VAT.
How can I keep up to date with a lot that I have bid on?
auctionmove.co.uk is available 24 hours a day, seven days a week so it is simple to keep up to date with the bidding process.
Through My Account, you will be able to keep track of all the properties you have bid on or are interested in.
Another feature enables you to save lots of interest to a special favourites list, which is easily accessible and allows you to view a property quickly and with ease.
We will also send you email updates at every stage, when you bid, if you are outbid at any point, if the reserve price is met, when the auction closes, if and when your payment is confirmed and sale information.
How long are properties listed for bidding on auctionmove.co.uk?
Properties are listed for a period of upto four weeks, allowing the lots to reach more potential buyers than a traditional auction. Bids can be placed at any time during the auction period.
Is the bid binding?
Yes, once you make an offer the bid is binding and if your bid meets the reserve price at the close of the auction, this constitutes an exchange of contract.
How quickly do I have to buy the property?
You need to be able to complete the sale of the lot within 28 days (unless stated otherwise within the lot particulars).
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