Auctions can be an exciting and cost effective way of buying a property. Our LIVE Online Auctions are held online via video stream and run in the usual fashion with the auctioneer on the rostrum offering lots one at a time in lot order. Buyers are able to bid via telephone, online or by submitting a proxy bid. The live video stream of the auction is available via the Maggs & Allen website and Essential Information Group.
Please click here to download the RICS common auction conditions.
The Auctioneer or a representative of Maggs & Allen will bid on your behalf up to a specified amount on your selected lot(s).
We will call you on the day of the auction when the lot(s) you have selected are being offered for sale.
You will be emailed with further information together with a bidding link where you will be able to view the auction live and bid on your selected lot(s).
1. Review the property particulars, online auction legal pack and conditions of sale
Before you bid at the auction you should read the auction legal pack including the Common Auction Conditions of Sale and Special Conditions of Sale, check the property particulars and take legal advice from your solicitor if required.
2. Complete this Registration Form for Proxy, Telephone and Remote Online Bidding
You will need to complete the registration form overleaf stating the details of the lot(s) you have selected, details of the buyer (and bidder if different), your solicitor’s details and confirmation that you will arrange a bank transfer for the Premiminary Deposit. If you intend to bid on more than one lot, please list the lot numbers of the lots you wish to bid on in the ‘Lot Number’ field.
3. Provide us with proof of identity, proof of address and source of funds documents
We require documentation for the buyer, bidder and deposit payer in order to conduct the appropriate Anti-Money Laundering checks.
4. Return your completed Registration Form, no later than 24 hours before the auction date
Your Bidder Registration Form (available to download from our website at www.maggsandallen.co.uk) should be completed and submitted no later than 48 hours before the auction date. We must also be in receipt of your Preliminary Deposit monies (£5,000) and your identity documents before we can approve you to bid.
Signing the Contract
By signing the Bidder Registration Form for Proxy, Telephone and Remote Online Bidding, you authorise Maggs & Allen to sign the contract on your behalf if you are the successful bidder. The contract will be completed using the buyer’s details stated in the Bidder Registration Form.
Deposit and Buyer’s Premium Payments
You will already have provided your Preliminary Deposit and the balance of the deposit monies and the Buyer’s Premium (£1,800 plus VAT) must be transferred to our client account within 24 hours of the auction sale.
Contracts sent to your solicitor
The signed contract will be sent to the solicitor stated on your Remote Bidding Form.
Buyer's Premium
Please be advised all lots subject to a Buyers Premium of £1,800 plus VAT, which is payable to Maggs & Allen on the fall of the hammer.
Preliminary Deposits
Before you can be authorised to bid at the auction, you will be required to pay a Preliminary Deposit at least 24 hours before the auction.
The Preliminary Deposit required for each lot you wish to bid for is £5,000.
If your bid is successful, the balance of the deposit monies and Buyer’s Premium (£1,800 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you within 5 working days.
Terms & Conditions for Proxy, Telephone & Online Bidding
These terms and conditions apply to the bidder and the buyer (if different) and you will be bound by them if you bid by telephone, proxy or via online remote bidding.
1. You can use our Remote Bidding Service for internet, proxy or telephone bidding. You should complete and sign the remote bidding form overleaf, confirming which service you wish to use by selecting the relevant method of bidding. You will also be required to make a bank transfer for the Preliminary Deposit, details of which can be found on the last page of this form.
2. If you wish to bid for more than one lot then lot numbers for all of the properties you intend to bid on should be listed in the ‘Lot Number’ field.
3. The Bidder Registration Form must be signed and submitted via the Maggs & Allen website, emailed to auction@maggsandallen.co.uk or delivered to Maggs & Allen, 22 Richmond Hill, Clifton, Bristol, BS8 1BA so that it is received no later than 24 hours before the auction day. It is your responsibility to ensure the Bidder Registration Form has been received and Maggs & Allen accept no liability for Registration Forms that are not received or that are received after the deadline.
4. In compliance with Anti-Money Laundering legislation you are required to provide with this form two forms of identification. If you are bidding on someone’s behalf identification is required for both the bidder and buyer. We will carry out an online Anti-Money Laundering check and by signing this form you agree for this to be carried out.
5. The maximum bid price must be stated as an exact figure for proxy bidding.
6. The prospective buyer appoints the Auctioneer as agent and authorises the Auctioneer to bid for the relevant lot on behalf of the prospective buyer in such manner as the auctioneer thinks fit at their absolute discretion.
7. The prospective buyer shall be considered to have inspected the particulars relating to the lot you are bidding on, the Common Auction Conditions and separate Special Conditions of Sale, the Auction Legal pack and any Auction Addenda, all of which are available at www.maggsandallen.co.uk or will be available on the day of the auction. They are also deemed to have obtained any legal and professional advice regarding any queries they may have.
8. A remote bidder (and buyer if different) accepts that their offer is binding and that the Auctioneer or any duly authorised partner or employee of Maggs & Allen has full legal power to sign the contracts on behalf of the buyer, providing for completion in accordance with the Special Conditions of Sale as applicable to that lot.
9. The preliminary deposit is dependent on the guide price for each lot and must be received no later than 24 hours before the auction, details of which can be found on the last page of this form.
10. If your bid is successful, the balance of the deposit monies and Buyer’s Premium (£1,800 plus VAT) must be transferred to our client account within 24 hours of the auction sale. If the balance of the deposit has not been paid within 5 days, Maggs & Allen reserve the right to rescind the contract and the preliminary deposit will be forfeited by the bidder/buyer.
11. The successful buyer and/or bidder will be jointly and severally liable to pay Maggs & Allen the buyer’s premium referred to in the Auction Catalogue.
12. The prospective buyer may, in writing only, at any time up to the commencement of the auction withdraw the Auctioneer’s authority to bid or make alterations to their Bidder Registration Form. It is the prospective buyer’s responsibility to ensure that the Auctioneer personally receives such instructions and the prospective buyer should check to ensure such instructions have been received. Any withdrawal or alterations to the Bidder Registration Form should be emailed to amaggs@maggsandallen.co.uk.
13. The Auctioneers may relay to the Seller that a proxy bid has been received. However, the amount will remain confidential.
14. Maggs & Allen reserve the right to refuse to accept any proxy, telephone or online bids without assigning reason thereto. We reserve the right not to bid on behalf of a telephone, proxy or online bidder should there be any error, confusion (either apparent or otherwise) in respect of the instructions or accompanying deposit payment and identity documents.
15. The Auctioneer reserves the right to bid himself or through an agent up to the reserve price for the particular lot.
16. The Auctioneers or the Seller hold the right to withdraw or sell prior to Auction the lot, even if a remote bid has been received and processed.
17. The provision of an online remote bidding service is not guaranteed. The prospective buyer accepts that access to the Essential Information Group services (whether the website, via the auctioneer’s site (if applicable) or the services or access to a particular lot) may be withdrawn or interrupted at any time. Remote bidders must make alternative provision for making bids prior to the sale and must not rely on and are not entitled to rely on the services (whether the website or the services) or the use of the auctioneer’s site to make bids. Such services and sites may not be continuous and may be interrupted by factors within or outside our control.
18. The website and remote bidding services are provided free of charge by the Essential Information Group and Maggs & Allen Auctioneers ‘as is’ and ‘when is’ available only. Maggs & Allen Auctioneers and the Essential Information Group shall have no liability where a bid fails to be received by the Auctioneer or is delayed, or where the bid is made in error for whatever reason.
19. The auctioneer will accept no liability whatsoever for any bid not being made on behalf of the prospective buyer for any reason whatsoever. Prospective buyers will not hold Maggs & Allen liable for any loss or claims relating to the remote bidding system.
20. Proxy bidders will be informed whether the lot has been successfully purchased as soon as possible. Where a proxy, telephone or remote bid has been unsuccessful, the Preliminary Deposit will be returned as soon as reasonably possible.
Bidders are advised to telephone Maggs & Allen on 0117 973 4940 on the day of the auction to ensure that there are no late amendments to either the details or the legal documentation.
Questions must be asked of the Auctioneers or Solicitors before the Auction and will not be dealt with once the auction has started.
Arrange your finance early. If you need a mortgage remember that a mortgage lender is legally obliged to obtain a valuation for which you will have to pay.
We have not surveyed the property and it is essential that you carry out your own inspection. You are advised to commission a Surveyor to assess its condition. Your Solicitor will advise you of a suitable firm and the cost of a survey is small compared with the size of your proposed investment. The Auctioneers accept no responsibility for the condition of the property.
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
The Purchaser is responsible for Insurance of the building from the fall of the Auctioneer’s hammer. It is prudent to make arrangements for this to be put in place prior to the Auction.
All measurements and areas provided by the Auctioneers are approximate, to give guidance only. It is essential that you check any which are important to you as they cannot be guaranteed.
If you think that fixtures and fittings are included in the price, you must check with us to confirm.
We have not tested services, appliances and fittings and are unable to guarantee they are safe, comply with regulations or in working order. You should obtain specialist advice on such items.
You may wish to submit a Pre-Auction offer to tempt the Vendor to sell prior to Auction. These offers may or may not be accepted by the Vendor prior to Auction.
The Auctioneers for themselves and the Vendors, whose Agents they are, give notice that these particulars do not constitute any part of an offer or a contract.
Intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars, as neither the Auctioneers, nor anyone employed by them has authority to make or give any representation or warranty in relation to this property.
The particulars are for you to identify the property and are expressly excluded from the contract as they are not intended to delineate the legal interest. All enquiries relating to legal matters should be directed to the Vendor’s Solicitors.
Properties which are registered for Value Added Tax will be sold net of VAT and the Purchaser shall pay VAT to the Seller in addition to the sale price.
Tenancy details are provided by our Clients and cannot be guaranteed by us.
Tenancies (particularly of residential units) do change and you should check before the Auction with the Vendor’s Solicitors to ensure that the tenancy details and rents are accurate and remain the same as those included on our marketing details. No responsibility is accepted by the Auctioneers or the Vendor where tenancy details have changed.
No warranty is given by the Seller or the Auctioneers that the property or any part thereof is authorised for any planning use or complies with regulations relating to such use. Purchasers must make their own enquiries of the appropriate authorities.
1. These particulars do not constitute part or all of an offer or contract.
2. The Measurements indicated are supplied for guidance only and as such must be considered incorrect.
3. Potential buyers are advised to recheck the measurements before committing to any expense.
4. Maggs & Allen have not tested any apparatus, fixtures, fittings or services and it is in the buyers interest to check the working condition of any appliances.
5. Maggs & Allen have not sought to verify the legal title of the property and buyers must obtain such verification from their solicitors.
The Ministry of Housing Communities & Local Government have confirmed the housing market remains open.
All of our departments will be open for business as usual but please be assured that stringent measures are being followed to ensure of the safety of all our clients and staff.
We will continue to offer both physical and virtual valuations and viewings for residential, auction, commercial and lettings as will at our full range of RICS surveys.
If we can be of any assistance please get in touch:
Henleaze: 0117 949 9000
Clifton: 0117 973 4940
