Property For Auction Cornwall
Description
How to fill out Notice Of Sale Of Abandoned Or Unclaimed Personal Property At Public Auction - Abandonment?
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FAQ
If you can't be at the auction in person, you can bid remotely: By proxy ? The auctioneer will place bids on your behalf up to your specified limit. By telephone ? The auctioneer will call you so you can bid live over the phone. Online ? You can also bid live from your PC or tablet.
All interested buyers will be there and they'll place bids in front of each other. If you're the highest bidder, you exchange contracts and pay your deposit on the day of the auction. The deposit is usually 10% of the purchase price. If you back out, you lose your deposit as you've already exchanged legal contracts.
If you don't want to bid personally, someone such as an agent or a solicitor can bid on your behalf. Some auctioneers will also accept phone or proxy bids, in which case the auctioneer will require written authorisation from you and a cheque for the deposit. This is calculated on the amount of your maximum bid.
Once an item is placed for sale, the auctioneer will start at a relatively low price to attract a large number of bidders. The price increases each time someone makes a new, higher bid until finally, no other bidders are willing to offer more than the most recent bid, and the highest bidder takes the item.
There is no right or wrong way. The important thing is to use an approach that aligns with your price limit and to have confidence. If you are a newbie in the game, by remaining steady, reading the room and being patient, you'll have a better chance of walking home a first homebuyer.
