Q How much should I bid on a property?
Only what you have previously calculated you can afford.
Q If I win the bidding do I have to buy the property?
Yes. Once the hammer falls you are legally bound to buy the property.
Q What details should I take to the auction?
If you expect to buy a property take:
Q What happens to properties that don't reach their reserve
• Two forms of identification
• Your cheque book
• Bank details
• Solicitors' details
At the end of the auction the vendor may agree to sell the property at a lower price. Ask the auctioneer if you can register your interest for such properties.
Auction Finance Limited is registered in the UK, company number 04949929. Registered Office and geographic address: Lake View, Lakeside, Cheadle, Cheshire, SK8 3GW. Group VAT registration number 588797251.