Guide to Online Bidding
Welcome to NALC’s Step by Step guide to our online Bidding at our Property Auctions.
1. Apply to bid
At any point leading up to the Auction you can:
- Select the lot(s) you intend to bid on
- Enter your bidder and (if different) buyer details
- Enter your Solicitor details
From 7 days prior to Auction you can complete the remainder of your Registration:
- Review and accept the Terms and Conditions
- Pay your Bidder Security deposit amount
- Upload or email to us Identification documents for the Bidder and (if different) the Buyer. Details of the required documents can be found on the website under money laundering regulations.
We will make every effort to assist you in registering to bid before the auction. If you are unsure or have any questions please email firstname.lastname@example.org
You are strongly advised to register no later than 24 hours before the auction.
We accept no responsibility for failure to administer late registrations.
A bidder security payment is required for each Lot. The amounts required are as follows:
Residential– per lot and inclusive of buyer’s fee:
Guide Price: £1 – £49,999 – Bidder Security payable = £5,000 per lot
Guide Price: £50,000 – £149,999 – Bidder Security payable = £6,000 per lot
Guide Price: £150,000 and above – Bidder Security payable = £10,000 per lot.
2. Sign up to Bidding Platform
Upon successful registration you will receive an email from NALC containing guidance and advice on were to view the auction live. Our auction will be live steamed. Over our website and also together with our media partners www.easyliveauctions.com
Once you have received your approval to bid you will need to register on our online bidding platform to create a new account. We will send you details of how to do this in our confirmation email.
Once this additional account has been approved you will be able to bid when bidding opens on the day. Please note that each auction sale has its own unique approval process. You will therefore need to sign up to the bidding platform for each and every auction.
We strongly advise completing all of the above steps no later than two working days before the auction. The auctioneers can accept no responsibility for failure to administer late applications.
3. Bid on auction day
Go to the page for our online auction of the day. You will be able to log in using your online bidding platform account details.
Please note this window will only appear on the day of the auction.
Once logged in the window shows the current bid and the bidding for that particular lot.
You can choose to set a maximum bid or place an instant bid.
Before the auction
You can register as soon as the catalogue has been published for each auction. Then at any point you can select the lots you intend to bid on, enter bidder, buyer and solicitor details.
During the auction
The auction start time is normally 6pm. Any change will be clearly displayed on our website.
After the auction
The bidding pop up window will indicate you are the successful bidder. You will also receive an email notification.
Some Things in detail that it is worth remembering
All our properties that are available by auction are viewable on the website and the properties to be sold by online auction are shown in the online section of our website. You will find photographs of the property, floorplans and open house viewing times together with the legal pack for each property under the legal pack Tab within the property details.
Important notices pre-registration
Please note that charges and fees additional to the sale price might be payable by the successful buyer in respect of the lot please read the information contained below and check the special conditions of sale plus the particulars of sale and any addendum for the lot before deciding whether or not to bid.
Pre-registration approval to bid
All bidders who wish to bid need to register beforehand all checks required by current money laundering regulations must be satisfactorily completed as part of the process prior to NALC Auctions approving you to bid at our Auctions please use the links upon our website in order to fill in your pre-registration forms (hyperlink).
- Where a guide price or range of prices is given that guide price is the minimum price at which or range of prices within which the seller might be prepared to sell at on the date on which the guide price is published upon this website. The guide price will normally be at or above the reserve price. The guide price may be subject to change at any time up to and including the day of the auction the latest publish guide price or range of prices is displayed on our website and you are advised to check the website regularly for any updates alternatively you can of course call the office and speak to a member of our team on 01636 558200 for an update on the status of any particular property which you may be interested in.
- All guide prices are always quoted subject to the auction contract.
- Please note the guide price in the lot does not include any buyers fee charged by the auctioneers and the VAT on the sale price, any stamp duty land tax or any other taxes or additional fees which may be payable
- Additional costs and fees charged by the seller or third parties that might apply to some lots and also some buyers’ fees are not included within the guide price.
- if a guide price is listed to be advised that’s TBA it means no guide price has yet been set, should you be interested in this particular property please do not hesitate to call the office on 01636 558200 and the members of staff in the office will endeavour to give you the most up-to-date information.
6.The reserve price is the minimum price at which the vendor is prepared to sell the lot. Whilst every effort is made to ensure the advertised guide prices are up to date it is possible that the reserve price set for any lot may exceed the previously quoted guide price this is because our sellers do not fix their final reserve until just before the lot is offered for sale at the auction itself.
Buyers and sellers’ fees and additional charges
- For each lot a buyer’s fee is payable on the fall of the Hammer.
- NALC Auctions Ltd charge the following amounts for a residential auction. A buyers premium is chargeable in all cases subject to a minimum of £3600 plus vat in addition All lots £650 plus the VAT
- For our chattels and machinery and equipment auctions a minimum of 10% buyer’s premium on the hammer price will be charged.
- Sellers fees and additional charges might be charged by the seller and all other parties. You are strongly advised to read the special conditions of sale for the lot prior to bidding and check any additional charges and fees and to check the addendum. The addendum may but does not always contain details of any such amounts.
- Some lots (commercial property) VAT may be chargeable in addition to the sale price of the lot. The lot particulars and all the special conditions will explain whether VAT is chargeable or not.
- Other matters. Please note that lots may be sold or withdrawn at any time prior to the auction.
- Please note that the amount of security (deposit payable) per lot is variable and must be agreed with the auction department prior to bidding please refer to the addendum and the particulars and conditions of sale which will normally state the guide price and required deposit or bigger security deposit. The required deposit will normally be 10% plus any buyer’s premium
- Plans are reproduced with the consent of promap and ordnance Survey and are licensed by HM stationery office
- Plans and photographs shown in the catalogue and on this website are included in order to assist you in locating the lot in question. They are not necessarily drawn to scale and any arrows on plans or photographs are merely there to assist you in finding the lot itself and not for the purposes of indicating the legal boundary; especially when referring to Land Registry plans.
In this regard the auctioneers cannot guarantee that any plans or photographs showing up-to-date position with regard to boundaries or occupiers either of the lot or for the property shown in such plans or photographs.
Registered with HMRC for supervision under the Money Laundering Regulations. Reg No:XQML00000159968