Town and Country Auctions
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  2. Buyer FAQs

Buyer FAQs

We get asked lots of questions, especially from people interested in buying at auction. Here are a few of the popular questions - but if you have any more questions feel free to ask.

Transparency and value for money. You decide the price of a house rather than an estate agent.

This is the price at which bidding begins.

This is specifically aimed at the residential market where the vendor will agree to give you an exclusivity period of 28 days to exchange contracts.

You can bid in person, by telephone, in writing or on the internet.

Yes. Some people authorize an agent to act on their behalf. etc.

Yes, we have an arrangement with one of the country’s largest mortgage brokers.

The buyer pays 5%+VAT. The seller does not pay an entry fee or sale fee. This is Town & Country Property Auctions' only remuneration which is payable when the hammer hits the gavel or the sale is otherwise confirmed.

We have an arrangement with one of the country’s longest established conveyancing practices.

On a binding auction a 5% deposit is payable, subject to a minimum of £5000.
On a conditional auction a £5000 deposit is payable

No, but you lose your deposit and buyers’ premium unless you exchange within 28 days of receipt of contract and complete as per sellers requirement.

You need ID and a form of payment. We take credit (with a small charge) and debit cards.