Equity & Law
Telephone us on +44 (0) 208 123 0067 or 0796 777 0832
E-mail: auctioneer@equityandlaw.co.uk or visit the
Web Site: www.equityandlaw.co.uk
View Auction Dates (Click Here!)
Viewings
Where applicable we will carry out regular viewings of the property at pre-arranged times. These viewing times will be published in the catalogue.
Legal Packs
The legal pack will be available through Equity & Law.
Interest and Offers
During the marketing period, all interest and enquiries are logged. We will maintain close contact with potential buyers and liaise with the vendor throughout, reporting any offers made prior to the sale.
The Auction Day Itself
Equity & Law holds all its auctions in the area where the properties are being sold. Please refer to the auction catalogue for the venue for each lot. For bidders and vendors it is important to note that the fall of the hammer represents an exchange of contracts and the successful bidder is legally obliged to pay a deposit, usually 10% of the purchase price and sign a memorandum of sale before leaving the room. The buyer has purchased your property at the final bid price. They cannot renegotiate and cannot change any of the terms stipulated. Completion usually occurs 28 days after the auction when the balance of the price is payable.
What happens if the property does not sell on the day?
If the property fails to reach its reserve price at the auction, someone may still wish to buy it. The property may even be sold in the days or weeks after the sale as we continue to market the property. It is quite common for an unsold property to sell within an hour of the auction ending as potential buyers may have simply been delayed.
