Sellers

Bidders

Registering  - Uploading

•       An agent or professional seller you register on our site and an email with log-in details is sent (one user per branch / office).

•       Agent/Seller adds a property to the Auction and provides photography, HIPS and floor plans and uploads these onto our system.

•       BidProp contact you, agrees reserve price & agree start date.

•       If the Seller is an agent/intermediary a listing addendum needs to be signed by the owner that stating that he/she agrees and signs terms and conditions.

•       The agent/developer appoints a solicitor and inputs their details –either choosing one from our panel or by using their own.

The Pre Auction Viewing window – 7 days

•       Properties are co-marketed through the main property portal with the agents and builders.

•       With your permission, we place a BidProp for-sale sign/board in addition to your existing one.

•       Emails are sent to Buyers to create interest in the property using our registered buyers, alongside email campaigns, PR and online advertising.

•       Buyers can arrange a survey and visit the property by contacting you (the agent, auctioneer or developer)
or ourselves (where no agent is appointed).

A.    Quick Registration (free) – instant access

       Allows you to view all the available documents for any of our property, and enables you to arrange viewings directly with the agent or administrator.

1.     Fill in your details and confirm your registration by clicking on the link in our automatically generated email.

B.    Bidding Registration (free) – allow 24 hours to process your registration.

      Allows you to bid for any of our properties and requires that you enter the following data into our system:

1.     Credit card information

2.     Driving Licence number or Passport Details

3.     Appoint a solicitor to represent you.

·        You can either use one from our panel by simply selecting this option (who will only charge should you be the winning bidder) or

·        Alternatively use your own solicitors, the details of which you will need to enter.

The Auction – 7, 14 or 21 days

•     Viewing continue throughout the auction.

•     Buyers can enter Max amount they are willing to pay using our automated
Bid Support, enabling them to pay a small increment to the highest offer at the time.

•       An addition 1 minute is added (during the last hour of auction) once a bid is placed ensuring that each buyer has time to respond to the last bid placed.

•    As the reserve price is met - all bidders will be notified via email.

After the auction > Reserve is met

·       After the auction, as long as the sellers reserve has been met, a reservation fee of (£1,000) is taken from the buyer’s credit card. This acts as an exchange of contract.

·       Solicitors are informed.

·       The Successful bidders sends the 10% deposit to their own solicitor (appointment of solicitor is required at bidding registration stage) within 24 hours.

·       Confirmation of funds and transfer of moneys from buyers’ to sellers’ solicitors. The deposit of 10% is required to reach the sellers solicitor within 48 hours.

·       Properties complete, unless otherwise stated, within 28 days from exchange
of contracts.

·         Any outstanding fees to BidProp are sent with completion moneys to seller’s solicitor

After the auction > Reserve is not met

·         If the reserve price is not achieved, the seller has the option to leave the lot for a ‘post-auction’ negotiation period, which can last up to seven days. During this period we accept offers and will communicate these to the seller, whom can accept or refuse the offers, should the offer be accepted, the normal auction condition will apply.