Complete before Christmas
National Property Auction
Thursday 28th October 2021 at 10:00am
Addendum
You can find the addendum for this month’s auction by taking a look at the link below.
The addendum is where you can find any last minute updates or changes to the lots on offer – it will be updated up until auction day, so if you’re bidding on Thursday, make sure to regularly check back to stay in the know.
Welcome to your October
interactive digital auction catalogue
Andrew Parker
Managing Director & Auctioneer at
SDL Property Auctions
It’s my pleasure to launch the catalogue for our next National Property Auction on Thursday 28th October.
We have another great auction for you this month, featuring 228 lots spanning the length and breadth of the UK.
This month, we’ve spoken to our Commercial Director, Louise Moss, to give you a preview of this month’s Auction Event, and to chat through how the property industry is evolving. You can find out more in the video below.
As we edge ever closer to the festive season, you may be thinking about how best to get any property transaction under your belt before tucking into your turkey. Any property bought or sold in this month’s auction can be sure to complete in time before the big day. We’ve written more about the advantages of buying and selling before Christmas below.
Despite the stamp duty holiday coming to a close at the end of last month, the market showed no signs of slowing down, as we held the biggest live-streamed property auction in the UK for the second month in a row.
In this month’s catalogue there’s another great selection of properties available with everything from a former school and places of worship, to family homes and full-scale renovation projects. Simply use the view all lots button at the end of this section see the full range of 228 properties in this month’s auction.
Lot 137
- 4 Bridge Street, Appleby-In-Westmorland CA16 6QH
- Guide price*
- £115,000+ (plus fees)
If you’re interested in bidding in this month’s auction, you will need to register before midday on Wednesday 27th October. To do so, simply head to our quick and easy online remote bidding form here. It’ll take no more than a few minutes to complete and costs nothing to sign up. There’s also a handy guide below which takes you through all our remote bidding options: online, on the phone and by proxy, so that you can bid in the way that you’re most comfortable with.
Next month’s National Property Auction takes place on Thursday 25th November. If you’re interested in selling by auction, take a look at our frequently asked questions below or contact our friendly team on 0800 046 5454.
Frequently asked questions
Over the past few months we have naturally received some questions from our bidders about how the buying process works. Largely we are operating as we always have been, we’re simply not able to see you in the auction room when you bid. We’ve put together these frequently asked questions to help guide you through your auction purchase.
A reserve price is the price stated as the lowest acceptable figure by the seller. This figure is confidential between the seller and auctioneer.
No, not always. The guide is an indication given by the auctioneer. Where the guide price is a bracket figure, the reserve cannot exceed the top end of the bracket price. If the guide price is a single figure, then the reserve can be up to 10% in excess of this.
After the auction has ended one of our team will contact you to advise you of the result.
Yes, and these vary depending on the method of sale associated with the property and the country in which you are purchasing. These are listed below – please note the reservation fee does not contribute towards the purchase price. Any further additional costs, which are payable in addition to the purchase price will be included within the Special Conditions that are attached to the Contract. Therefore all prospective purchasers must inspect the legal packs thoroughly. We also strongly advise prospective purchasers to request a legal representative reviews the pack for every lot that you may wish to bid on, so that you are fully aware of any additional costs, if applicable.
England and Wales
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Reservation Fee is subject to a minimum of £6,000.
Scotland
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000.
There are a number of options when selling by auction which can include paying no fees at all and having the buyer an additional fee instead.This is often an attractive option when you are selling due to a bereavement or a divorce and you have limited cash prior to the auction to fund the sale. Alternatively as a seller you can pay an initial fee and commission price for the sale of the property, meaning the buyer doesn’t have to pay anything extra, maximising the final sale price of the property
Regardless of which auction route is selected, there are solicitor fees to prepare the legal pack for your property, which typically costs around £350 to £500. After your home is sold, you will also need to instruct a solicitor for the conveyancing of the property, which can cost anywhere from £450 to £750.
Yes, if a reserve price is not met during the bidding process, then the lot will not sell. We continue to market our unsold properties after the auction and if a post-auction sale is agreed it will be carried out under auction conditions.
Bidding registration
Bidding registration closes at midday the day before the auction.
Registering to bid in one of our National Property Auctions is quick, easy and painless. By completing our online form, you can register for bidding online, on the phone and by proxy, meaning you can bid from the comfort of your own home. There’s no need to wait for the legal pack to be completed before registering, there’s no obligation to bid on the day and there’s no money taken prior to bidding.
How we can help you to
secure
a property purchase
before Christmas
The Christmas period is usually one of the busiest times for people searching for property, as they begin to imagine the next year in their dream home. But what if you’re looking to wrap up your purchase in plenty of time before the festive season?
Our October auction presents a great opportunity for landlords, developers and private buyers to take ownership of a new property before Christmas. With contracts exchanged on the fall of the hammer and, in most cases, completion takes place within 20 working days, you can be sure of getting your new keys in plenty of time. You might even be able to get started on some work too, giving your more time to buy your presents, bake your mince pies and deck the halls!
So how does buying at auction allow for such a speedy transaction? First of all, all the legal documents are prepared in advance, allowing you to conduct any due diligence required in plenty of time before the auction begins. You should read this very carefully as auction purchases are legally binding. It’s good practice to ask a solicitor who has previous experience in auction sales to check it over with you.
You’re also able to view the property in advance, subject to access rights or tenancies. Try to take somebody with you to the property to act as a second pair of eyes as you won’t have long inside the property once you’ve arrived. While some properties are ready to move into straight away, others may need a little TLC, so it’s worth bearing in mind what your end goal is when having a look around.
You’ll also want to make sure you’ve got any finances arranged in advance. You don’t have to be a cash buyer to bid, but you will need to pay any fees and your deposit (depending on your sale type) on the day of the auction. You may find it easier to get a mortgage for an auction property if you use a specialist firm or broker. We’re able to recommend finance providers if this is something you need a hand with, just visit our auction finance page for more information.
If you’d like more information or advice about buying, we have plenty of resources available to help. You can check out our guide to buying or take a look at our frequently asked questions. If you still need a helping hand, our team would be happy to help – simply drop us an email at heretohelp@sdlauctions.co.uk or give us a ring on 0800 046 5454.
Remember to tune in!
Our Auction Events are currently broadcast online, live from our auction studio in Nottingham.
It’s really easy to tune in and watch on the day. The auction begins at 10:00am and will run throughout the day, with our each of our auctioneers taking to the rostrum. To tune in on the day, simply visit our website where you’ll be able to watch the auction unfold from our home page, or follow the link below!
Our buyers terms
If you’re planning on bidding at auction, it’s really important that you do your due diligence prior to the auction – part of which is reading our buyers terms which you can find below. Make sure to read them in full to ensure you’re prepared to bid.
Guide to additional fees
Important notice relating to fees, costs and charges payable by the buyer in addition to the purchase price.
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs or reservation fees. All prospective buyers are advised to inspect the legal documents including the contract and special conditions of sale and seek their own independent legal advice as to the full cost of purchasing a specific property.
Homes under the Hammer
If you’re successful in this month’s auction, you could take part!
Despite the current restrictions the Homes under the Hammer team are still looking for properties to feature in upcoming episodes of the show, even though they can’t be in the auction studio. If you’re interested in taking part in the programme or would like any information about what is involved in taking part please contact either Kate Walmsley on 07929 829812 or Mal Nichol on 07929 829814 or alternatively use the button below to contact them via email.
Legal Packs
We recommend reading the legal pack prior to the auction, to make sure you’re aware of all the information before bidding.
It’s really important that you take a thorough look through the legal pack for the property you’re interested in buying before placing a bid, as they lots of important information regarding your purchase. We recommend going through the pack with your solicitor prior to the auction. You can view the legal packs for all lots in this month’s auction using the link below.
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