Although we strongly advise prospective buyers to attend the auction, we realize that not everyone can always make our auction date. However, all is not lost as it is possible to bid on properties that you may be interested in without having to be in the room on the day. Please note that there are three options available to you, which I will explain below:
Proxy or Telephone Bids
We offer the facility to bid by either a proxy or telephone bid. I will firstly explain both methods:
A Proxy Bid means that you would have given the Auctioneer consent to bid on your behalf up to an agreed maximum, without having to be in the room.
A Telephone Bid provides you with the facility to participate in the auction remotely (on the end of a phone), allowing you make your own bid, without having to be physically in the auction room on the day.
How Can I Make a Proxy or Telephone Bid?
In order to make a Proxy or Telephone Bid you will need to complete our registration documentation, which consists of 2 documents which can be obtained by clicking on the link below
It is also a requirement to provide the Auction Department, (three days prior to the auction taking place) with two cheques and identification for the purpose of money laundering. This is to enable us to take the payments of the 10% deposit and Buyers fee of £510 including VAT, for the exchange of contracts on auction day.
A list of money laundering Identification requirements can be found on our Pearson’s Auctions website by clicking on the link below:
Point 8 will explain what forms of identification is required for the purpose of money laundering.
Third Party Bidding
This is when it is possible to arrange for another person to bid on your behalf. In order to do this written authorization would be required from the buyer, along with their proof of Identification and your proof of identification. Should you be looking to send somebody else along to the Auction to act on your behalf, please make sure that it is somebody that you trust and agree figures before bids are submitted.
We strongly advise potential buyers to check that the property is still available prior to the Auction and that there have not been any changes to the Lot, which would be highlighted on the Final Addendum document, which is published prior to the Auction.
Thank you for reading our blog and should you need any assistance please do not hesitate to call us on 02380 474274.