Where is the next property auction held?
We hold our regular auction at The Auctioneer, Shepherds Inn, Montgomery Way. Rosehill, Carlisle, CA1 2AW. (free parking).
Directions: From the M6 motorway, junction 43 take the first exit onto the A69 signposted Carlisle. At the traffic lights turn left onto Montgomery Way. The Auctioneer can be found on the left hand side just after passing Lloyd Land Rover.
Buyers deposits explained
The successful bidder at auction is legally bound to exchange contracts on the night. The buyer will have to pay a 10% deposit (minimum payment of £3000) on the night to secure the sale.
This payment can be taken by debit card not visa master cards. Some properties also require the buyer to pay an admin fee of £600 + VAT please check the property details, this payment is also payable on the auction night.
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Buyers and sellers guide to auctions
People buy at auction for lots of reasons, they might want to move quickly, or could be looking for repossessed property, a plot of land to build on or quite simply a quick purchase that is straight forward, risk free and secured the same day as making the successful bid.
Before you attend the auction we strongly advise you to view the property before auction. If you have any questions about the property you must ask these before the auction. You may also want to make arrangements for a survey to be carried out prior to auction.
All persons interested in bidding on a property must register their details at the foyer of the auction with a member of our team. Each auction property will be announced by the auctioneer and bidding will be open to the audience. You must have photo ID with you.
Buyers need to know they have their finances and affordability arranged before making a bid. If a mortgage is required you must have your formal offer in place before the auction. You can speak to our mortgage advisors for more information please email Ann for more details Ann@cumbrian-properties.co.uk
Once the hammer falls contracts are then legally exchanged. The contact will need to be signed and the deposit by the buyer will need to be paid. Completion of sale is usually 28 days. The balance of the sale price will be payable upon completion, a solicitor will deal with this on your behalf.
All bids are to be made clearly and directed at the auctioneer. The auctioneer reserves the right to regulate bidding and to refuse undesirable bids. The vendor of the property reserves the right to bid up to the reserve price or to authorise the auctioneer to do so. Once the hammer falls contacts are legally exchanged. When a bid is successful the bidder will be escorted by a member of our team to the administration area in order to complete the paperwork and payment. Successful bidders will need to provide our team with photo ID normally in the way of a driving licence or passport, we will also need your National Insurance number.
In the event of any dispute in respect of the Auction, the Auctioneers decision is final. Each lot is offered subject to the reserve price unless otherwise stated.
How to place your bid:
There is no need to be nervous about buying at auction, it’s easier than you may think. Our experienced auctioneer will conduct the sale at a pace where newcomers will feel comfortable, he will recognise when you are making a real bod and our team are always on hand to help.
There are 3 simple ways to make your bid:
- Bid in person – be in the room. Upon arrival to the auction you will receive a copy of our auction catalogue and also information on any amendments, withdrawals or last minute sales. If you need guidance at any time during the auction please mention this to us and a member f the tem can sit with you and help you with bidding. Make eye contact with the auctioneer, a simple nod of the head or hand gesture should be fine to make your bid known.
- Bid by Proxy – If you cannot attend the auction in person you can authorise Cumbrian Properties to bid on your behalf up to your maximum price. All you need to do is fill in a proxy bidding form, this will allow us to act for you.
- Bid by telephone – This is another way to bid of you cannot attend the auction. To make a bid over the phone you would need to arrange this service with our office prior to the auction. Then on the day a member of the team will call you shortly before the property is being auctioned and they will relay to you over the phone the auctioneer’s words to you. You can then instruct our team member to place a bid on your behalf.
Please note if you decide to bid via the proxy process or the telephone service you will need to complete a form and send it to us along with your reservation cheque and buyers administration fee.
Our valuers can meet with you at your property to discuss its value and auction potential. We can provide you with a free no obligation auction appraisal of your property. The valuer will fully explain the auction process to you and guide you through the whole process from our initial visit to your property right up until the completion. Why not come along to one of our auctions and familiarise yourself with the auction process.
This is the minimum price you would take for your property, again this is something our valuer would discuss with you. This safeguards you from having to accept a figure too low. This reserve price is not made public this is confidential between the seller, Cumbrian Properties and the Auctioneer.
Our catalogue is not available just yet but pleased leave your name and email and we can notify as soon as it is available