When buying a property through Cain Auction Property, it can be a very simple process place successful bids on properties (Lot No) which are of interest. Having said that, it is extremely important to understand and prepare for each step. In order to assist you throughout the world of buying property through our auctions, Follow our guidance on how to buy a property below:
CAIN PROPERTY AUCTION CATALOGUE
The catalogue for Cain Property Auction is published three weeks before the auction is due to take place on our Website or there is an option available to receive alerts so that potential buyers are made aware of when they can view the latest catalogue. We recommend you browse our catalogue to establish whether any properties being sold are of interest.
Once you come across a property that is of interest, we strongly recommend you arrange a viewing. A list of viewing times are available in our catalogue and there is no need to register for this, you can just turn up at the property at the times mentioned where our consultants will be available to meet you.
On our website, each property listing will include legal documentation, which we ask to appoint a solicitor to check through the documentation before you place a bid at any of our auctions.
The information on our website is regularly updated and should there be any amendments, we any changes are highlighted. As a strong recommendation, we advise that you read through this before the day of auction as all amendments form part of the legal contract.
In order bid at our auction, you will need to register in advance of the sale, which should include details of all bidders, buyers and deposit payers, together with relevant identification documents for each person.
When attending auction, if you are not sure about what you are buying or have any doubts about the completion or processes then we strong advise not to place any bids. Once the hammer goes down and you are the winning bidder and a binding contract is created. At this point onwards, there can be no changes or negotiations.
All successful bidders are required to pay a 10% deposit on the property plus the buyers fee. The buyers fees are broken down as follows: £250 inc VAT below £20,000 and £1250 inc VAT at and above £20,000.
