Our auction teams will welcome pre-auction offers on those properties listed on our pre-auction offers page, and if you are really interested in purchasing the property, then making a prior offer makes sense. However, not all properties can be purchased before the auction as some sellers such as local authorities and some lending institutions require them to be sold publicly in the auction room.
You can submit an offer at any time (pre-auction or post auction) on any of our properties for the vendor to consider. If the vendor is willing to accept your offer and sell you the property you will be required to pay an immediate 10% deposit (Minimum £3,000) to secure the purchase and withdraw the property being offered at the next auction. To submit an offer browse to your chosen property on our website then click the “Submit an Offer” link, complete the offer details and submit. We will then contact the vendor with your offer and confirm the result.
You will be able to commence bidding once the auction time for your lot has started. Any bids will increase in pre-determined increments using the on-screen buttons. You will able to see your own details on screen and will be identified by Bidder 1, 2 etc in order for each bidders identification to remain anonymous and which cannot be seen by other bidders. An on-screen notification will show if you are currently the highest bidder or if you have been outbidded.
Our online auction system extends the end of the auction for each lot by 1 minute every time an additional bid is placed after the scheduled closing time (so long as there was a bid in the last schedule minute) until there has been 1 minute of ‘bidding silence’. At this point the system will close the auction. As a result, it is pointless leaving placing your bid until the final seconds of an extension period as this will only extend the auction for another minute. It is better to get your bid in early so you will be more likely to be bidding a lower amount.
In order to avoid any malfunction in the system which may result in the online auction system not receiving any bid within the extension time you are strongly advised as a registered bidder to avoid placing your bid in the last few moments as you may miss out to another bidder.
At the end of the auction, an onscreen notification will appear advising if you are the successful bidder or not. If you are the successful bidder, a member of the Alotsold Property Auctions team will be in touch with you to assist you in the post auction process. You will have exchanged contracts and our sales team will be issuing a sale memorandum to solicitors instructing a 28-day completion period. If the property does not sell during the on-line auction, you can purchase this after the auction. Please contact a member of Alotsold Property Auctions staff following the auction to discuss.
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