Frequently Asked Questions

Q. What is a guide price?

The guide price is listed in the auction catalogue to give an indication of what the property is worth. This is not necessarily the price that the property will sell.

Q. What is a reserve price?

A reserve price is the lowest price that a vendor will accept. It is normally agreed between the vendor and the auction house and cannot be disclosed to interested parties.

Q. What is the addendum?

The addendum contains any revisions or additions to the property information within the auction catalogue. You should keep up to date with the addendum as it is constantly updated.

Q. Can I view the property?

Yes, it is often possible to attend a physical viewing before an auction. Please contact us to arrange a viewing. We also upload virtual tours of many of our properties on to the website.

Q. How can I bid at an auction?

The first thing you need to do is register to bid. We need you to complete our online registration process including a digital ID check and provision of funds to cover the 10% deposit (subject to a minimum of £3,000) plus buyer’s admin fee taken on fall of the hammer.

We support bidding in person (when room auctions return) and telephone or online bidding. We can also accept proxy bids if you provide us with a maximum bid. 

Q. What happens if I win a lot?

If you are the highest bidder and the reserve price has been met then you will be required to sign and agree to all contracts and terms and conditions of sale, as well as pay a 10% deposit by debit card.

There are additional fees on top of the hammer price such as administrative costs within the legal pack and the buyer’s premium.

You will be legally bound to purchase the property and pay the remaining funds within the next 28 days.  

Q. What is a buyer's premium?

A buyer’s premium is an additional fee on top of the hammer price and makes up part of the total purchase amount. It is an administrative fee that is commonplace at auction events.

Q. Can I buy a property prior to the auction?

You can make an offer in writing prior to the auction date. We will pass the offer onto the vendor and respond to you with their reply. 

To buy prior to auction you must be able to exchange and pay your deposit before the auction day.

Q. Can I inspect the property?

It is often possible to inspect a property prior to an auction, if its not we will state 'external viewings only' on the property's page. We also upload virtual tours for most vacant properties. We state on our particulars if Sutton Kersh hasn't inspected internally, but if you are in any doubt we would advise you to seek professional advice.

Q. What happens after I make a successful bid?

Immediately following a successful bid, you will be required to sign contracts and pay a 10% deposit which is paid by debit card. You will also be obliged to pay an administration fee, payable at the same time as the contractual deposit on each lot. It is important to remember that once you make a successful bid, you are then legally bound to purchase the property in full as in an auction properties are not sold 'subject to contract', 'subject to finance' or 'subject to survey'. The remaining balance is usually payable within 28 days unless otherwise stated within the legal pack.

Q. Can I buy a property prior to auction?

Vendors will often consider offers made before the auction day, but they should be made in writing via email with 2 x forms of ID and proof of deposit funds. Once this is received we can pass it on to the vendor and will then contact you with his/her instruction. Please note however that you must be in a position to exchange and pay your deposit immediately.

Should you have any other questions that have not been covered here please call one of our advisors or email your question to: auctions@countrywide.co.uk