• As the seller you can set and agree specific date for the sale of your property which suits you.

• We have traditional and online auctions running throughout the year which can be set to your requirements.

• Our traditional auctions are held regularly every 9 weeks, yet our online auction can be set at any date and time to suit you

Auction may achieve best price for you in 6 weeks.  Contact us and we will discuss the advantages of auction then recommend if your property is suitable or not.

• Auction marketing draws attention and puts the spotlight on your property.

• Auction properties create a sense of urgency, bringing interested buyers to a point of decision.

• You are able to control the rems of the transaction and actively participate in the sales process.

• Auction is an ideal way to bring buyers and sellers together for an efficient and convenient completion.

Auction may achieve best price for you in 6 weeks.  Contact us and we will discuss the advantages of auction then recommend if your property is suitable or not.

The Auction Day

Step 1 - Allow Sufficient Time

• Arrive in plenty of time for parking and registration. Read the addendum and review any last minute legal documentation at the clerks’ desk. The auctioneers will be in attendance one hour before each sale. Questions are NOT invited during the auction. Last minute information may be obtained from the clerks’ desk while the sale is in progress.
• Bid briskly by raising your bidding number so that the auctioneer can see you clearly – leave winking and nodding to the professionals/regular buyers!
• On the fall of the gavel (auctioneers hammer) the highest bidder above the reserve is contracted to buy. They will be required to pay their deposit and administration fee and should sign the sale memorandum before leaving the sale room. The auctioneer is legally authorised to sign the auction contract on behalf of both buyer and seller if you leave the room without signing.

Step 2 - Registration & Money Laundering Regulations

All potential buyers are required to register their details before bidding. At registration you will need to provide the full names and address of the buyer for auction contract purposes, the bidders’ details (if these are different from the named buyer) and the solicitor/ legal representative who will be acting on your behalf.  You will also need to PROVE your method of payment of the deposit / administration fee and that you have the necessary proof of identity to comply with Money Laundering Regulations.

Registration usually takes place adjacent to the auction room where you will be allocated a personal bidding number, which will enable you to bid. There is no charge for registration. The auctioneer reserves the right to refuse a bid where registration has not taken place and to offer the lot to the under bidder.  You are also advised to read the notice on auction deposits and proof of identity notice within this catalogue.
Proof Of Identity

In compliance with the Money Laundering Act all successful bidders are required to provide photographic identification and proof of address when signing the memorandum of sale.  In ALL cases, buyers must present the following documents:-

Photographic identity document such as a current passport or UK driving licence

AND

An original utility bill, building society or bank statement, credit card statement or any other form of identity document (excluding mobile phone bills) that has been issued within the last three months and that provides evidence of residency at the correspondence address.
If the bidder is acting on behalf of another party, they will be required to provide the documents detailed above for both themselves AND for the named buyer for whom they act, as well as providing a valid letter of authority from the buyer authorising them to bid on their behalf. If the bidder is acting on behalf of a company, the above documents will still be required, together with written authority from the company.

If you require further advice then please contact us on North Wales 01248 75 39 39 northwales@allwalesauction.com
 

Step 3 - Auction Contracts

On the fall of the gavel the highest bidder above the reserve is contracted to buy.
• The successful bidding number is noted and the buyer is required to pay the deposit, administration fee and confirmation of identity. The sale memorandum will be prepared at the clerks’ desk and must be signed by the buyer and exchanged before leaving the auction room.
• The signed counterpart sale memorandum should be passed to your solicitor or legal representative immediately. You should also insure the property immediately, if appropriate.
• Completion will usually take place 28 days after exchange, but this may be varied in the individual special conditions of sale, which are attached to the sale memorandum.
• The auctioneer is legally authorised to sign the sale memorandum on behalf of both buyer and seller if you leave the auction room without signing. We reserve the right to immediately re-offer the lot if the deposit conditions are not strictly adhered to in accordance with our conditions of sale.
 

Step 4 - Auctions Deposits

• Deposits, which are payable on the fall of the gavel (the auctioneers hammer), are 10% of the purchase price. If the sale price is less than £30,000 then a minimum deposit of £3,000 will be payable. Buyers should arrange to bring either a bankers draft/counter cheque, building society draft to the sale room to cover their maximum bid.
• Personal & company cheques WILL NOT be accepted unless agreed by prior arrangements, even if you are well known to us and have bought before. If you wish to pay by either personal or company cheque you should contact us on (North Wales) 01248 75 39 39 at least THREE WORKING DAYS prior to the auction, for further details. A £20 fee will be charged (payable cash only) upon acceptance of any personal or company cheque to cover the bank charges for special clearance (North Wales Only). All cheques/drafts should be made payable to ALL WALES AUCTION unless stated otherwise in the special conditions of sale.
• Buyers should note that CASH will NOT be accepted for deposit payments. The administration fee of £720 (inc. VAT) may be paid as cash separately to the main deposit.  Please note our South Wales auction DOES NOT accept any cash payments at all.
• We have a primary duty to our clients (the sellers) and reserve the right to immediately re-offer any lot if the deposit conditions are not strictly adhered to in accordance with our conditions of sale.
 

Step 5 - Administration Fee

An administration fee of £600 + VAT (£720), is payable at the same time as the contractual deposit on EACH lot purchased. In the event of non-payment, a deduction of £600 + VAT (£720) will be made from the amount received before the balance is applied to the deposit.  A VAT receipt (if requested) will be issued in the name of the buyer.

 

Step 6 - What you need to bring with you on the day

Money Laundering Regulations

All buyers attending our auctions and transacting business with us must provide relevant documentation in order to prove their identity and place of residence. Buyers should note that copies taken are subject to all data protection regulations.

If you are attending the auction on behalf of a potential buyer, you must be able to provide proof of your own identity and residence and certified copies of the buyer’s identity and residence. Certified copies must be of original documentation and bearing an original signature of the person certifying the document and signed as true certified copies. Only certified copies by a UK lawyer, UK banker, authorised financial intermediary such as an independent financial advisor, FCA regulated mortgage broker, certified accountant, teacher, doctor, minister of religion, post master or sub-post master. All of the above must be capable of being contacted by telephone by us prior to you buying and/or on the day of the auction.

Documentation bidders/buyers must show to us

If you conduct business with us and are a UK individual, the documents we can accept are listed below. We must verify your name and residential address and require two documents.

ONE DOCUMENT MUST BE FROM LIST A AND ONE DOCUMENT FROM LIST B.

You must allow us to copy this documentation for storage and filling for 5 years.

For UK trusts, companies and partnerships, occupational pension schemes, registered charities in England and Wales, local authorities or non-UK individuals you should contact us well in advance of bidding at the auction or buying to confirm the documentation we require.

LIST A - evidence of identity (including photograph)
• Current valid signed passport
• Current valid signed UK photo-card driving licence
• A valid identity card (HM forces, police warrant card, prison officer, government to local authority issued)
• A firearm or shotgun certificate

LIST B - evidence of residence (and showing your name)
• An original HMRC tax notification, self-assessment statement or tax demand for the current year
• An original utility bill less than three months (not mobile phone)
• An original council tax bill less than three months old
• An original council rent book showing rent paid for the last three months
• An original mortgage statement for the mortgage accounting year just ended
• An original statement for either current bank, building society or credit card account which is less than three months old

Queries and contacting us

If you have any queries relating to these regulations and our requirements you should contact us well in advance of bidding at auction or buying before or after the auction, please call the team on 01248 75 39 39 or by email to Northwales@allwalesauction.com We are committed to preventing our services being used for the purposes of money laundering and in addition to asking you for proof of ID and address we carry out electronic ID verification of all vendors and purchasers. This is not a credit check and the ID verification ‘footprint’ left on your credit file will not affect your credit score. If you have any questions, please refer these to a member of the auction staff.