General Buyers' Information - Westcountry Property Auctions

Legal Packs

A legal package will be prepared for each property by the seller’s solicitors. It will generally consist of the Special Conditions of Sale, the Land Registry Search, Leases (if applicable), the Epitome of Title and other pertinent documents affecting the property. These packs are available to view online by clicking here.
Alternatively these packs are available from Westcountry Property Auctions.If you would like a photocopy of the legal paperwork this can be ordered for a small charge by calling us on 0870 2414343 with your credit card details (this charge is not recoverable) or you can arrange to view the paperwork free of charge in our offices in Exmouth, Devon. Legal paperwork can always be viewed in the auction room on the day of the sale. It is important that either you or your solicitors inspect this paperwork prior to auction.

Plans and Photographs

The plans and photographs published in the catalogue are there to aid identification of the property only. The plans are not to scale.

Guide Prices

Within a Westcountry Property Auctions catalogue the guide price for a property is expressed either as a range or a single figure. If a guide range is given, the reserve is likely to be set in the majority of cases within this range. If a guide price is given, the reserve is likely to be set in the majority of cases no higher than 20% of the guide price given.

Reserve Price

Each property will be sold subject to a reserve price. This is a confidential figure agreed between the Auctioneer and the seller prior to auction and is a figure below which the Auctioneer cannot sell the property.

Bidding by Proxy or by Telephone

If you are unable to attend the auction for any reason, you may care to make use of our special arrangements for bidding by proxy or by telephone. Please call our office on 0870 2414 343 for a bidding form and conditions.

Pre-Auction Sales

Offers made on property included in this catalogue may be accepted by the seller before the auction. It is therefore important that you register your interest in any particular property. We are obliged by law to inform the sellers of any offers made prior to the auction.

There are occasions when properties will be sold or withdrawn before auction. Neither the Auctioneers nor the seller will be liable for any claim for compensation from a prospective buyer arising out of a sale or withdrawal of a property prior to auction.

Do ring us on the day before the auction to check whether the property that you are interested in is still on offer. At the same time, you can ask for any modifications that there may be to the information in the catalogue. This information will be available on the day of the auction as a catalogue supplement.

Attending the Auction

It is always wise to give yourself plenty of time to get to the auctions, which start promptly. Important announcements are made at the start of the auction which could relate to the property you are interested in. Legal packages for all the properties are available for inspection prior to the auction and it is important that you inspect these.

We sell about 25-35 lots per hour but you should not rely on these figures for calculating the time when your lot is due because many lots may be sold prior to the auction or withdrawn. It is best to be there at the start.

Purchaser’s Proof of Identity

In order to conform with the UK's current Money Laundering Regulations, we ask all prospective purchasers to provide proof of identity at registration which takes place immediately prior to the auction. Please bring to the auction your passport and either a UK driving licence, a current public utility bill, a bank statement or a Local Authority tax bill.

Solicitors’ Details

Bring with you the name, address and telephone number of the solicitors who will be acting for you to see you through from exchange of contracts to completion.

Deposit

When you buy a property, you will be asked to come to the settling desk to sign the Memorandum of Sale in duplicate. At that time you will be asked to provide a deposit. This will be 10% of the purchase price or a minimum of £2,000 (i.e. properties sold for less than £20,000 will have a minimum deposit of £2,000). Some variations to these figures may occur to accord with individual vendor’s requirements. Check with the Auctioneers before you come to the auction on the deposit required on the property of your choice. Deposits can only be paid by a Banker’s draft, Building Society cheque, company cheque or personal cheque. Cash will not be accepted nor payment by credit cards.

Buyers Administration Fee

In addition to the deposit payable upon exchange of contracts whether pre, at or post auction, a Buyers Administration Fee of £800 (inclusive of VAT) will simultaneously be required from the purchaser. A Vat receipt will be issued if requested.

Insurance

From the time that the property is sold to you at the auction, it is at your insurable risk. Please make sure that you obtain insurance cover urgently after the auction.

The Contract

Once the Memorandum of Sale has been completed, you will be asked to sign 2 copies, one will be given to you, together with a copy of the legal pack, which you must then take to your solicitors. The second copy and deposit are retained for the seller’s solicitors. Completion will usually take place in 20 working days, but this date can vary depending upon the seller’s requirements.

Royal Institution of Chartered Surveyors Common Auction Conditions (Edition 3)

The conduct of the auction is governed by the above, which can be viewed by clicking here.

Addendum

The particulars of any property included in the auction catalogue and shown on the websites may require amendment or elaboration and this information is contained in an addendum which will be available at the auction. The Auctioneer will refer to the addendum prior to the commencement of the auction and purchasers will buy on the understanding that they are fully aware of the information contained in the addendum before bidding.

Post-Auction Sales

If a property you are interested in is not sold at auction, talk with the staff at the auction and make an offer. This will be put to the seller for his decision and, if you are successful, you will be asked to complete the Memorandum and pay the required deposit.

CATALOGUE

To order a hard copy of Westcountry Property Auctions latest catalogue, please call the order line on:

0904 163 0006 - (All calls cost £1.53 per minute from a BT landline, other networks may vary. Mobiles will be higher. You must ask the bill payers permission; calls may appear on your bill)

Alternatively, to receive the Westcountry Property Auctions catalogue for 12 months, please download, complete and return the mailing application form.