Buying at Auction.
Buying at Auction can be exciting, and some buyers can get carried away. At Uneek Homes -Auctions we are mindful of this and always provide our Buyers with help and assistance throughout the process to ensue throughout the process to ensure your purchasing experience is a positive one.
Why Purchase a property through Uneek Homes?
Uneek Homes are established Buyers and Sellers of property, with our team having extensive knowledge and experience within all aspects of the property sector. after purchasing numerous properties at auction, we have always been unhappy with how Buyers are penalised for purchasing via the auction route, With Expensive Buyers fees, covering the cost of the Sellers Legal Fees and not to mention the hidden fees. We decided to create our own auction. Our Buyers only pay the one fee. A reasonable Buyers Premium.
There is NO contract charge, no Sellers fees to pay and certainly no hidden costs.
Q. What is the Buying Process?
View the property
You should always go and see the property before you purchase. Ensure that you fully check the property is suitable for your requirements and that you are confident with the level of work required (if any).
Survey
If you decide to have a survey done, we will do our best to make access available. Properties are sold in an “as is” condition, if you purchase the property without a survey you are still legally required to complete regardless of the surveyors report.
Legal Documents
Legal documents are usually available to view or download from our website. Please remember that you buy subject to all documentation and terms of the sale contract whether or not you have read them. We advise all Buyers to read these and ask your legal representative to read these prior to purchase.
All lots (unless otherwise stated) are sold subject to the Online Auctioneer Terms, the RICS Common Auction Conditions of Sale (Part), Form of Purchase agreement and any Special Conditions of Sale or Articles of Roup (Scottish properties). We strongly advise prospective bidders to read all conditions of sale. Please note that some Special Conditions of Sale detail the seller's extra costs payable in addition to the purchase price.
Arrange finance
If you successfully bid for a property you will be required to provide a 10% deposit immediately.
If you need to arrange a mortgage it is important that you obtain an offer from your lender in principle before the auction day. Most building societies and banks will wish to instruct a surveyor to prepare a valuation report before making a mortgage offer. So you will need to make your mortgage application as early as possible.
You will need to complete your purchase within 28days. You should discuss this with your lender to make sure that this will not be a problem. Failure to complete will have financial implications
Guide Prices
Guide prices are not necessarily figures at which a property will sell. They are to generate interest for the auction. They are subject to change throughout the marketing period and prior to the auction start.
Sales prior to the auction
Some Sellers may consider selling their property prior to auction. You can make an offer by email, at any time up to the date of the auction, if your offer is accepted you will be required to exchange contracts and pay your deposit immediately.
You must register to bid
If you are intending to bid on a property at any of our auctions you will need to have pre-registered and received our prior approval to bid. You will be required to register with EIG via a link provided to you.
Addendum
Occasionally changes need to be made to the lot information. Prior to bidding it is essential to check the addendum, Any last minute changes will be announced From the Rostrum.
Q. Do I need to attend the Auction?
Q. What is required If I am the Successful Bidder?
Being present at the auction is a great experience with a lively atmosphere and we would encourage you to attend the auction in person where possible but if you are unable to attend, we offer remote bidding services as follows:
By telephone - we will call you from the auction room
By proxy – the auctioneer bids on your behalf
Online - follow the auction via our website and place bids online
You will be required to complete the Bidder Registration Form prior to being permitted to bid remotely or in the room. When bidding remotely You will be required to provide the following:
Identification for the purpose of Anti Money Laundering Requirements,
Deposit and Buyers Premium
Solicitors Details
Deposit
You will be asked to provide a deposit, normally 10% of the purchase price. Please note that cash and credit card deposits are not accepted. debit cards, Electronic bank transfer and banker’s drafts are acceptable.
Buyer’s Fee
In addition to the deposit, you will be asked to pay a buyer’s fee for each lot purchased, This will be clearly advertised on the property particulars, And can be discussed with the auctioneers.
Identification
Photographic Identification and proof of address for the Purpose of Anti-Money Laundering requirements
Memorandum of Sale
After verification that your photo ID matches that used in your Registration to Bid, and the relevant deposit and buyer’s fees have been paid, you will be required to sign the Memorandum of Sale. This is your proof of purchase and forms a legally binding document when signed by both parties.
We send over all documentation along with the legal pack to your allocated solicitors and full legal completion will occur in the 28 days
