Countrywide Property Auctions

You are within 4 weeks of the auction, and you now have time to find out everything about the property of your choice. 'At the drop of the gavel' in the auction room the property is yours, a contract is concluded on the sale of the property to you and it is too late to cancel the sale if you come across a problem.

Below is a simple guide to the important steps we think you should take in preparing yourself to buy at one of our property auctions.

Inspection

As soon as you can, call the local agents whose telephone number is listed and make an appointment to visit the property. The local agents will have more details about the property including directions and local knowledge.

Look around carefully and try to assess the property’s condition – electrical wiring, central heating, kitchen and bathroom fittings, etc. Check for dampness, signs of repair, external walls and roof. Perhaps a local builder can help by advising you on the costs of the remedial work or possibly a chartered surveyor should be asked to give you a complete structural survey.

Finance

Never consider buying at auction if you have not got the full amount of the purchase price at your disposal or you do not have a mortgage offer on the property. Never be tempted to buy, knowing that you have the deposit to hand and thinking you can easily raise the balance later. As in all property purchases, there are penalties if you cannot come up with the purchase price on completion, usually 20 working days from the date of the auction, but in some instances as little as 10 working days.

Legal Information

The Auctioneers will have available what is known as a legal package on the property. This generally contains copies of the Title Deeds, Special Conditions of Sale, Local Search, Leases (if applicable) and other pertinent documents. It is important that you inspect these yourself or perhaps better still, your solicitor should look through these documents before the auction. The Auctioneers will provide copies of these legal packs for you at a modest cost.

The Auction

Get to the auction satisfied that you know everything about the property you want to buy and make sure that you have your deposit with you and the means of identification required to prove your identity and evidence of address. It is now a requirement that the identity of the purchaser should conform to the Money Laundering Regulations . Your deposit may be paid either by means of personal cheque, company cheque or banker’s draft. The deposit cannot be paid in cash or by credit card as these methods of payment are unacceptable. If you need any additional advice please do not hesitate to contact the Auctioneers, telephone 0870 240 1140.

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.

Please bring:

• Identification to conform to the Money Laundering Regulations.
• Means of payment of deposit either by personal cheque, company cheque or banker’s draft.
• Name and address of your solicitor.

Please do not bring:

• Cash or credit cards as a method of payment of deposit.

 

Before the auction starts, the Auctioneer will explain how the auction is actually run. Sit back and enjoy it and good luck!

Buyer's Guides

Before attending one of our auctions, please ensure you read this important information:

• for properties auctioned in England and Wales.

• for properties auctioned in Scotland.

Data Protection

Countrywide Property Auctions will keep your personal data on file and may pass this information on to other organisations which are part of or connected with the Countrywide Group. If you wish to withdraw your consent to this at any time, you can do so by writing to the auctioneers at 80 - 86 New London Road, Chelmsford, Essex, CM2 0PD.