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Published on : January 29, 2020 10:00

February Auction | Everything You Need To Know

There’s not long to go until our February property auction and we’ve got a pretty epic day lined up for you.

We’ve got a great range of properties on offer, including some fantastic residential and commercial lots going under the gavel.

From quality seaside apartments to homes you can get your hands on for under £80k – we’ve got something for everyone!

There will also be numerous experts on hand to help throughout the day.

Expect to see mortgage experts, insurance specialists, lettings professionals and more.

Related Link – February Auction Catalogue

As always, our highly experienced auction team will also be there to help with anything you might need.

Ahead of the big day, we’ve drawn up a list of important pointers to help you prepare for our February auction. This should answer any questions you have before our auction next week.

However, if you’ve got a burning question that isn’t on our list, please do give us a call on 0161 443 4740 or email [email protected].

When is the auction?

Wednesday 12th February 2020.

Doors open, 12 noon.

Where is the auction?

The Sheridan Suite, 371 Oldham Rd, Manchester M40 8RR

I want to bid on a property, how do I do this?

If you are planning to bid on the day, you’ll need to register at reception where you will then be given a bidding paddle with your unique bidding number.

What do I need to register to bid?

Bring two forms of identification (passport or driving license with photo and a recent utility bill), your cheque book or debit card and all your banking details, as well as your solicitor’s full contact details.

I can’t attend the auction but I still want to bid – what can I do?

If you’ve got your eye on one of our auction properties but can’t make the actual sale, don’t worry! There are a few things we can do so that you don’t miss out.

Firstly, you can make a pre-auction offer. Although each property is set to be sold under the gavel, sometimes we receive offers that our vendors are more than happy to take before our auction.

If you’d like to make a pre-auction offer on any of the properties going under the gavel this February, please give us a call.

If you’d prefer to join in on the bidding, you can do this via telephone or you can make a proxy bid.

With telephone bidding, a member of the auction team will call you during the sale. Usually, it’s a couple of minutes before the lot you want to bid on goes under the gavel.

They will then bid on your behalf upon your specific instructions and will inform you where the bidding is, including all competing bids too.

Although telephone bids are a great way of joining in on the auction action, you do need to make sure you’re in a location with good signal.

You might want to advise your maximum bid in advance, just in case your connection is lost.

Alternatively, you could place a proxy bid. With a proxy bid, you advise our auction team the maximum amount you’d be willing to bid on a particular auction lot.

With your authorisation, the auction team would then bid on your behalf in line with the bidding in the auction room up to your specified amount.

If the bidding in the room exceeds your maximum, then your proxy bid would end.

How do I make a proxy or telephone bid?

If you’d like to make a telephone or proxy bid, click here to download and fill in our form. You can then email this form to our auction team who will coordinate this for you.

Arrangements will need to be set up before auction day, with the information provided, documents signed and funds made available for the purchase deposit should your bid be successful.

You will also need to provide ID and will be expected to have done all the usual due diligence in advance.

Documents to collect once you arrive

On arrival, there are a few things you’ll need to pick up before you make your way into the auction room.

Firstly, you’ll want a copy of the order of sales. This document displays every single lot that is set to go under the gavel on the day.

It also includes a picture of the property and a small section of information on the lot.

Although there will be a snippet of information on the lot in the order of sales, you NEED to read the legal pack if you intend to bid on a property.

We have a desk dedicated to legal packs at our auction. You can look up any legal pack on our touch screens or request help from our legal packs expert who will be behind the desk.

You’ll also need to collect an amendments sheet. This document contains late information or alterations on any lots that are set to be sold at our auction.

This includes information on withdrawals, price reductions and any lots that have been postponed until our next auction.

Don’t assume that all the properties included in the order of sale will be offered on the day – we get a lot of pre-auction offers, so some may have sold before the auction.

Which experts will be there to help me?

We have a range of experts on hand to help you at our February auction.

We have specialists in buy-to-let and auction funding, legal, planning, surveying, insurance, property management… and much more.

We have stations dedicated to each of these areas outside of the auction room, we have large signs displaying which station is which, so it should be easy to find the expert you’re after.

Tips for bidding

Whether you’re a seasoned bidder or a first-time auction buyer, it’s always good to take a look at the auction room before the bidding starts.

Take a few minutes to familiarise yourself with the empty auction room so you are comfortable and confident in the surroundings.

Take a seat or stand somewhere in the room where the auctioneer will able to see you bidding clearly.

When bidding, make sure to gesture clearly at the auctioneer. Either raise your hand or bidding paddle clearly so that our auctioneer doesn’t miss you.

Our auctioneer Nick Green, will warn the room when he’s about to bring the hammer down.

What happens if my bid is successful?

If you’re the highest bidder when the hammer falls, that’s it, the property is yours! As the excitement of the winning bid starts to fade, you might begin to wonder – what happens now?

Firstly, a member of our auction team will make their way over to you to ask you whether you’re finished bidding.

If you’ve still got your eye on a few more lots, you can stay in the room until you’re ready to go.

If you’re finished bidding, a member of the team will take you outside of the auction room to collect the legal pack for the property you’ve just bought.

Once you’ve got the legal pack, you’ll be guided to our accounts team. They will then take payment for your 10% deposit and buyers premium.

After that, you’ll be taken over to our legal team where you’ll sign all the legal paperwork and exchange contracts.

What should I do if my bid isn’t successful?

If you’re pipped at the post by another bidder or the property fails to meet its reserve price, don’t lose heart!

We have a team dedicated to helping you find your perfect property if you’re unsuccessful in the auction room.

They will put forward post-auction offers to the vendors who may accept your bid later at the end of the auction or in the days following.

If the property you wanted has been sold, the team will send you similar properties in areas you’re looking to buy.

Make sure you head over to the ‘make us an offer’ desk to have a free, friendly chat with our auction consultants.

Leave your full details with the team so that they can contact you after the auction.

If you need any last-minute advice before the big day, call us on 0161 443 4740 or send an email to [email protected]

Related Links

Auction Catalogue February 2020

Amendments February 2020 

Legal Packs February 2020

Notice to Prospective Buyers 

Common Auction Conditions

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