Buying at Auction Guide
Details of the property and land will be set out in our auction catalogues. All lots are sold subject to Special Conditions of Sale. All area’s and measurements included within the catalogues are approximate and are for guidance purposes only. All plans included are not to scale and for indicative purposes only. Interested parties should consult the Legal Packs for each property for specific Conditions of Sale and take special note of the required completion dates.
Pre Auction Sales
Offers made on the properties within the catalogue may be accepted by the Vendor prior to the auction. If you are intending to bid at the auction for a specific lot, we recommend that you keep in contact with the
The Auctioneer cannot be held responsible for the costs incurred in respect of any lot which is withdrawn or sold prior to auction.
Legal packs for the properties will be available for inspection at least 14 days prior to the auction at the office from which the viewings are conducted and on the day of the auction (from 12 noon at Lion Quays). It is important you read these and the final addendum/alteration list which will also be available as any purchase will be subject to these.
The name, address and telephone number of the Solicitor who will be acting for you in any purchase will be required before you leave the auction room.
The successful bidder will be asked to pay a deposit of 10% of the purchase price subject to a minimum deposit of £5000. Deposits can only be paid by Bankers draft, building society cheque or personal cheque. Please note, should the cheque have to be represented, an administration charge of £50 + VAT will be charged by deduction from the deposit.
For further details please refer to our auction catalogue or contact our offices.
Purchasers will be required to pay by cheque, made payable to Bowen Son and Watson, an administration charge of £250 + VAT in addition to the deposit. A VAT receipt will be issued after the auction.
At the fall of the hammer the property becomes the purchaser’s insurable risk. Insurance will need to be arranged immediately after the auction.
Post Auction Sales
If a property you are interested in is not sold at the auction, please speak to the auctioneer and make an offer. Your offer will be put forward to the Vendor and if accepted, you will be able to proceed with the purchase under auction rules.
For information regarding The Conduct of the Auction (including definitions of Guide Prices and Reserve Prices) please click here…
Due to recent changes made to the money laundering regulations and legislation, we are now required by law to verify the identity and address of everyone who offers, bids or buys at auction, regardless of any current or past relationship you may have with Bowen Son and Watson.
In light of the above, a registration process will now take place at all auctions and you will be required to produce one item from both List A and List B below, prior to the auction or any purchase. We cannot accept scanned copies and must receive either the original documents, or copies certified by a professionally recognised individual. A list of suitable options is available below.
If you intend to bid by telephone or by proxy bid, we will require this information before the day of the auction.
If we do not receive certified ID, we will be unable to bid on your behalf.
If you plan to bid in the auction room, you must bring both items with you on the day to show our team when you register.
If bidding on behalf of a company, you will also need to show a copy of the Certificate of Incorporation, a list of directors and a letter of authority on company letterhead, signed by a company director prior to signing the contract.
You will be able to have your two forms of identification verified using one of the following options:
Option 1 - Register with your original documents at the auction. Please arrive before 1.30pm to allow sufficient time.
Option 2 - Come to any of our offices with your originals documents and we’ll certify them free of charge prior to the auction
Option 4 - The post office can verify up to 3 forms of ID for a charge of £10.50
List A - photo ID
Current, signed passport
OR Current full UK/EU photo card driving licence
OR Valid ID card
OR Firearm or shotgun certificate
OR Resident permit issued by the Home Office to EU National
List B - proof of address
Current full UK/EU photo card driving licence (if not used to prove identity)
OR Utility bill issued in last three months (paper copy)
OR Recent bank/building society/mortgage/or credit card statement
OR HMRC tax notification
OR Recent council tax bill
Once we have Certified ID, this will be held on file and it will only need to be updated every three years, or if you change address. Therefore, even if you’re not thinking of bidding in the next auction, it would still be good practice to register now to save time in the future.