What happens if I’m the winning bidder on the day?

You will be approached by a member of the auctions team, who will take you over to the contracts desk. There you will be asked to provide proof of ID and residency, as well as further personal details such as national insurance number, length of time you have lived in your current address in addition to past addresses – these details will then be used to carry out a further electronic verification for money laundering purposes. You will then pay over the deposit monies and any other charges stated in the auction catalogue such as the administration fee or buyer’s premium, before completing and signing the two copies of the memorandum of sale. Once completed, you will be handed your copy of the memorandum of sale and related papers, and you will be asked to pass these to your solicitor. After the auction, the auctions team will confirm your purchase in writing, notifying your solicitor and explaining next steps.