Buying property and land with Pearsons Auctions

Pearsons work hard to attract a catalogue of interesting properties and land to be sold at our regular Public Auction. The lots will usually include tenanted and vacant properties, residential and commercial properties, land with or without planning, and often property in need of repair or renovation. If you are looking for a project, an investment, a new home or some grazing land we may well be able to help.

 

WHO BUYS AT AN AUCTION?

Pearsons Property Auctions are Public Auctions and therefore are open to anyone and everyone. Our buyers come from all over the country and do not necessarily fit into a particular category. As well as the professional buyers like investors and builders we attract many buyers who are buying their next home, a business premises or investing a lump sum in bricks and mortar.

There are, of course some rules. You will need to be able to pay a deposit, usually 10% of the purchase price, on the day and you will be committed to completing the transaction and paying the remainder of the price at a pre-set date afterwards, normally 20 business days later.

There is advice to buyers in our catalogue and to download our Guide and our Important Notice to Buyers please click here.

 

BUYING WITHOUT BEING THERE (PROXY/TELEPHONE BIDDING)

If you cannot attend the auction, or do not wish to, you can still bid on our lots by Proxy or Telephone. You will be required to arrange this in advance and for the details and registration forms click here.

 

CONTACT THE AUCTIONEER

Complete Name (required)
Email Address (required)
Telephone Number (required)
Address
Town/City
Postcode
Message

 

Money Laundering Regulations

The Anti-Money laundering regulations, 4th Directive came into effect on 26th June 2017 and as Property Auctions fall within a ‘relevant business’, it is therefore a requirement of Pearsons to follow certain procedures within this legislation.

As a result, all buyers attending our auctions and transacting business with us must provide relevant documentation in order to prove their identity and place of residence, prior to the Auction. Buyers should note that these documents are required for these purposes only and copies are taken subject to all Data Protection Regulations.

Documentation Bidders/Buyers must show us:

If you are planning to bid on an auction property, be it on the day or prior to, the documents required are as follows:

We must verify your name and residential address, and will require 1 original document from List A and 1 original document from List B.

You must allow us permission to copy this documentation to enable us to comply with the Data Protection Regulations. It will be stored and filed for 5 years.

For UK trusts, companies and partnerships, occupational pension schemes, registered charities in England and Wales, local authorities or non UK individuals, you should contact us well in advance of bidding at the auction or buying in advance to confirm the documentation we require.

List A – evidence of identity (including photograph)

– Valid Passport
– Valid Photo Card Driving Licence (full or provisional)
– National Identity Card (non UK nationals)
– Firearms Certificate or Shotgun Licence
– Identity Card issued by Electoral Office for Northern Ireland

List B – evidence of residence (showing your name and address)

– Valid Photo Card Driving Licence (if not used for List A)
– Utility Bill issued within the last 3 months (12 months if the billing is annual)
– Council Tax Bill for current year – Bank or Credit Card Statement issued within the last 3 months
– Mortgage Statement issued for the last full year
– HMRC correspondence issued within the last 12 months (not online)
– Correspondence from a regulated solicitor issued within the last 3 months
– TV Licence letter for the current year.

Purchasing on Behalf of Someone Else:

If you are attending the auction on behalf of someone else, you must be able to provide proof of both your own identity and place of residence and certified copies of the identity and residence of the person that you are bidding on behalf of. Certified copies must be of original documentation and bear an original signature of the person certifying the document and signed as “true certified copies bearing a true likeness’ Only copies certified by a UK Lawyer, authorised financial intermediary such as an independent financial advisor, FCA regulated mortgage broker, certified accountant, teacher, doctor, minister of religion, postmaster or sub-postmaster will be applicable. All of the above must be capable of being contacted by telephone by us prior to you buying and/or on the day of the auction.

Queries and contacting us

If you have any queries relating to the above please contact us at auctions@pearsons.com or 023 8047 4274, particularly if you are considering bidding either at or prior to an auction, under such circumstances it is advisable to contact us well in advance of the Auction Date.