Live Stream Land and Property Auction
NALC Auctions Group
January 21st Real Estate Land and Property Auction
To live Streamed from our Newark office on 21st January 2021
All enquiries should be made to email@example.com or to our online auction team at firstname.lastname@example.org
The process and how to bid :
You can bid directly on the easyliveacution website, where you will be required to pay a deposit if your bid is successful or:-
1. Apply to bid
At any point leading up to the Auction you can:
• You will need to contact the property auction office to register to bid. On 01636 558200 or email@example.com
• The office will then ask to sign a online bidders registration form.
• Select the lot(s) you intend to bid on for the easy auctions website
• Enter your bidder details and if different , enter buyer details
• You may be asked to pay your deposit in readiness for the auction into our client account,
2 days prior to Auction you must complete the Registration by providing the following. You will receive an email once these steps are open:
• Review and accept the Terms and Conditions
• For buyers, if different to you the bidder, upload the required ID documents
• Bridgett will then authorise you to bid
• Verify you, the bidder's identity
For each lot you are bidding for, a bidder Using our online payment method during registration, this can be submitted easily and securely.
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 = £7,000 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 firstname.lastname@example.org containing final joining instructions.
Once you have received your NALC 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 at the time of the auction. Please note that each auction sale has its own unique approval process. You will therefore need to be approved for each and every auction.
We strongly advise completing all of the above steps no later than one working day before the auction. NALC accept no responsibility for failure to administer late applications, i.e. those received within one working day of the auction.
3. Bid on auction day
Go to the page for the lot you wish to bid on. A pop up window will appear. You can now 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 on the bidding for that particular lot during the auction.
You may either place your maximum bid or place an instant bid.
Before the auction
At what point can I register?
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.
6 Days prior to auction you can complete the registration and provide bidder security payment and ID verification.
I want to bid on more than one lot – is that possible?
Yes, multiple lots may be added to an application.
How can I pay the bidder security?
Payment can be made in two ways:
Using our secure online payment method during registration with Easy Auctions. Or By contacting Bridgett@nalcgroup.co.uk to pay your deposit. (minimum £5000.00)
I am bidding on multiple lots - how many Bidder Securities are payable?
We require a Bidder Security payment for each lot you wish to bid for. E.g. bidding on 2 lots requires 2 bidder securities
What if I cannot pay the bidder security in one payment?
Please register for each lot separately.
What ID do you require for non-UK residents?
We require copies of all ID documents. Normally Passport or driving licence and Utility bill. Plus copy Bank Statement.
How long does it take to receive the email with the final joining instructions?
You will receive this email within 24 hour of successful completion of your registration to bid.
Do I need to apply to bid before each auction?
During the auction
What time can I start bidding on the auction day?
The auction start time will be clearly displayed on the website. Then simply follow the live feed.
Do you conduct the auction in lot order?
Yes. Please follow the bidding on the day to view progress.
If I enter my maximum bid can I enter single bids later?
I am bidding on consecutive lots - will I have time?
Yes. Should you be bidding online. The auction will ensure you are given ample and sufficient opportunity to complete your bidding.
Will there be anyone to speak to on the day?
Yes, we are here to help. Please call:
Residential and Land Auction team on : +44 (0)1636 558200
After the auction
How will I know I am the successful bidder?
The bidding pop up window will indicate you are the winning bidder. You will also receive an email notification.
If I am successful what happens next?
If you are successful we will contact you for the balance of deposit (if any) payment. This must be sent promptly after the auction and in any event no later than one working day after the auction in accordance with the online auctioneers terms and conditions.
Please note :
"The purchaser shall pay a 10% deposit for the property which will be held by the solicitor until completion" on each lot. Plus in addition any required Buyers Premium as set by the auctioneers prior to auction and printed in the auction catalogue.
If I am unsuccessful how long will it take to get my refund?
If you have paid via online payment, the hold on your account will automatically release by your bank if unsuccessful. If you require the hold removed sooner please contact your bank .
If you have paid via bank transfer, we will refund within 3 days post auction for cleared funds payments. Five days post auction (card Payments).
If the property is not sold how can I make an offer?
Please telephone 01636 558200 with your post auction offer. Should the property you are interested in not sell.
21st January 2021 from
- Live Stream Land and Property Auction
(Lots 1 to 20)
For the avoidance of any doubt. These terms and conditions are in addition to those which are printed in the property auction Catalouge.
Please note: payments will only be accepted via Bank Transfer or (if you are in person/face-to-face transactions) Debit or credit card may be taken for lots. For the foreseeable future (covid 19 regulations) payments are to be arranged over the phone to head office on 01636 558200 or the London office on 02070 789755.
1: The Buyer is deemed to have accepted these conditions of sale and Notices by the making of any bid.
2: The highest bidder shall be the buyer at the Hammer price and the dispute shall be settled at the auctioneer’s absolute discretion. The auctioneer shall have the right to determine the advancement of the bids. The auctioneer reserves the right to refuse any bid and of altering, adding to dividing, consolidating, or withdrawing any Lot or Lots at the sale or bidding on behalf of the vendors.
OF THE SELLER.
The Auctioneer shall be the sole arbitrator to every matter connected to the sale and their decision on each and every point in question shall be final and binding on all parties.
3: NALC Auctions will not be responsible for the correctness of the description or measurements whilst believed to be correct descriptions are made as an expression of opinion only and all Lots are sold subject to all faults and errors in description Neither the Auctioneer nor the sellers make any warranty to a buyer's in respect of the law.
4: Buyers shall give on request, their names and places of abode and /or business and to pay at the fall of the hammer the whole of the purchase money or such deposit as the auctioneer may require.
When your Lot comes up, the screen will allow you to enter bids in your selected manner. The current and upcoming lots are displayed at the bottom of the screen.
This is a live auction and you will be bidding against others in the room, written bidders, and others online. Submitted bids will be seen by the auctioneers, and you will be notified on-screen if your bid is accepted.
The buyer understands that if I am the successful bidder I hereby undertake to immediately pay the Deposit and Buyer's premium. NALC Auctions are duly authorized to sign the Memorandum of sale on my behalf. Thereafter I understand that in an unconditional auction I will have to complete the purchase within 28 days from the date mentioned on the memorandum of sale.
I confirm that I have read and understood the Legal pack and agree to any special conditions within the Legal pack. Certified copies of my passport and unity bill have been or will be provided to the auctio9n department.
Enter bids in your selected manner. If the auctioneer asks for a bid in a certain increment (amount). Try to go with him if you can.
The current and upcoming lots are displayed on the screen, normally to the right this is a live auction and you will be bidding against others in the room, written bidders, and others online. Submitted bids will be seen by the Auctioneers, and you will be notified on-screen if your bid is accepted.https://auctioneer.easyliveauction.com/auctioneer/grant.cfm?module=008
I understand that if I am the successful bidder I hereby undertake to immediately pay the Deposit and the Buyer’s premium to the auctioneers. NALC Auctions are duly authorized to sign the Memorandum of Sale on my behalf. Thereafter I understand that in an unconditional auction I will have to complete the purchase within 28 days from the date upon the Memorandum of Sale.
I confirm that I have read and understood the Legal Pack and agree to any special conditions within the Legal Pack. Buyers should be happy to provide Certified Copies of their passports and utility bill as and when required.
Terms and Conditions
The Bidder appoints NALC Auctions as an agent and authorizes NALC Auctions to bid for the relevant Lot on behalf of the Bidder in such manner as NALC Auctions thinks fit in its absolute discretion. The Bidder may withdraw London City Auctions authority to bid if the withdrawal is in writing and is received by the Auctioneer before the Auction commences and the Auctioneer confirms to the Bidder in writing that the withdrawal instruction has been received.
1. These terms and conditions apply to you and you will be bound by them if you bid by telephone, via the internet, or absentee/proxy.
2. Definitions used in these terms & conditions:
The approved financial institution has the same meaning as in the RICS Common Auction Conditions Edition 4.0 November 2018.
Auction means the NALC Auctions / Auctions to be held at the time and place and on the date advertised in any format by NALC Auctions in which the Lot appears.
Auctioneer means the NALC Auctions auctioneer has conducted the Auction.
Bidder means the party bidding for the Lot and who acts as the buyer and guarantees the performance of the buyer under the Conditions of Sale.
Business Days has the same meaning as in the RICS Common Auction Conditions Edition 4.0 November 2018.
Buyer means the person, firm, or company identified on the Registration Form who agrees to buy the Lot.
Conditions of Sale means the auction conduct conditions together with the general conditions of sale, any special conditions of sale, and any addenda that are applicable and/or relevant to the Lot.
Lot means the property for which you bid remotely at the Auction.
Maximum Bid Price means the maximum price that you wish to bid for the Lot. This must be shown exclusive of any VAT that may be applicable.
Registration form means the registration form for remote bidding contained NALC Auction Catalogue or sent to you by email.
Seller means the person selling the lot.
VAT means value-added tax or any other tax of a similar nature.
3. Registration form
• If you wish to bid at the Auction by telephone, via the internet, or absentee/proxy you must complete the Registration form by entering your full details as the Bidder and full details of the Buyer if different from the Bidder. You should sign the Registration form where indicated.
• The completed Registration form should be sent to NALC Auctions so that it is received not less than two clear Business Days prior to the date of the Auction, together with: Two forms of identification for you consisting firstly of a form of photo identification such as your passport or current driving license and secondly proof of your address such as a recent utility bill or bank statement. To comply with the Money Laundering Regulations, if you are not the Buyer we will require you to provide further documentation.
• If you wish to alter any of the details appearing on the Registration form, you must notify the Auctioneer of this in writing before the Auction commences. Alterations will only be effective if the Auctioneer confirms to you in writing that the request to alter has been received.
4. In the event that the Auctioneer considers that there is any error or confusion about the Registration form or the deposit, the Auctioneer reserves the right not to accept your bid. Please note that the Auctioneer’s decision as to what constitutes error or confusion is final.
By completing this Registration form you warrant that there are adequate funds in the account to meet the full amount of the deposit
1. The deposit is to be paid immediately after the auction and no later than 15:30 on the day following the auction by bank transfer to London City Auctions client’s account in sterling on an Approved financial institution for a sum representing the greater of:
a. The minimum deposit of £5,000 plus VAT (or the total of your maximum bid price if this is less than that minimum)
b. 10% of the Maximum Bid Price exclusive of VAT.
2. If you are the successful bidder NALC Auctions requires a separate payment of £850 PLUS of VAT as a buyer's administration fee payable to London City Auctions Limited to be electronically transferred immediately after the auction and no later than 15:30 on the day following the auction. On exchange of contract for each lot purchased.
A VAT receipt will be provided upon payment.
6. Absentee/Proxy Bids
• If you bid at the Auction by Absentee/proxy you should enter your Maximum Bid Price on the Registration form.
• The Maximum Bid Price must be an exact figure. Failure to clearly indicate your Maximum Bid Price will invalidate your bid.
• If you bid by absentee/proxy you appoint the Auctioneer as your agent and you authorize the Auctioneer to bid for the Lot on your behalf up to (but not in excess of) your Maximum Bid Price in whatever manner the Auctioneer in his absolute discretion thinks fit.
• As soon as reasonably practicable after the Auction you will be notified as to whether or not your absentee/proxy bid for the Lot was successful.
• The amount of your Maximum Bid Price for the Lot will not be disclosed by the Auctioneer to the Seller
7. Terms of Sale/Conduct of Auction
• you shall be deemed to have read the “Important Information for Bidders” on the Auctioneer’s website/ catalogue and the ‘Common Auction Conditions, the special conditions of sale, and any addendum’ relating to the Lot. You shall be deemed to have taken all necessary professional and legal advice and to have made all your inquiries and to have knowledge of any Auctioneer’s announcements that are relevant to the Lot.
• It is possible that at any time up to the commencement of bidding at the Auction amendments and/or additions may be made to the Conditions of Sale for the Lot or any other matters relating to it. Such amendments are published by means of written addenda and by verbal addenda announced from the rostrum. You will be deemed to have knowledge of such matters (including for the avoidance of doubt any late addenda that are announced verbally from the rostrum) and if your bid is successful you will buy subject to them.
• If your bid is successful the Auctioneer or any person authorized by the Auctioneer will sign the memorandum of sale and any other relevant document relating to the Lot on your behalf and as soon as the deposit is cleared send this to you by post.
• In accordance with the Common Auction Conditions and in particular clauses A5.5 and A6.5, if you are the successful bidder, you will be required to complete the (‘NALC Auctions Customer Due Diligence Form’) and provide the information stated. You will be deemed to have read the ‘Requirements for bidders and buyers under the Money Laundering Regulations and will fully comply with them. Both documents are on the NALC Auctions catalogue.
NALC Auctions or any employee or agent of NALC Auctions or the Auctioneer will have no liability or responsibility whatsoever towards you or the Buyer in the event of your bid not being made as a result of:
• Unclear instructions.
• Error, lack of clarity, or confusion whether during the Auction or regarding the Registration form or the deposit.
• Any change in the date, time, and/or venue of the Auction.
• Any interruption or suspension of telephone or internet bidding services.
• You being unobtainable by telephone or becoming disconnected during the course of bidding by telephone or via the internet.
• Any other factor beyond NALC Auctions control.
Please complete the online registration form and submit it to NALC Auctions no later than 2 working days prior to the date of the auction. You WILL NEED TO RECEIVE WRITTEN CONFIRMATION FROM LCA THAT YOUR REGISTRATION TO BID HAS BEEN COMPLETED SUCCESSFULLY
Payment in respect of the Deposit (10% of the maximum bid) and the Buyer’s Premium plus VAT must be paid in advance of the auction. Or at the latest within 48 hours of your successful online bid. Please contact NALC Auctions, auction department head office on 01636558200 or the London office on 02070 789755 for the Client Account details
Pre-Payment to unsuccessful bidders will be electronically refunded after the auction. Bidders must contact NALC Auctions the day following the auction to arrange repayment.
Applies under the fall of the hammer. The purchaser shall pay a 10% deposit. Plus, in addition, the buyer’s premium of A minimum of £3000 +VAT or 2% of the sale price, whichever is the greater upon exchange of the contract.
(After the Online Auction)
If Successful, the auctioneer will complete the memorandum of sale on the buyers behalf immediately post auction.
The auctioneer will provide a hard and soft copy of the exchanged contract to both parties within 24 hours post auction
The auctioneer shall account out to all parties the balance of their deposit and /or outstanding balance with 5 days post auction.
All buyers shall be obliged to pay the NALC Auctions Buyers administration fee of £850+VAT on the exchange of contacts for each lot purchased.
Commission Rates & Charges.
2% + VAT
Subject to a minimum charge of £3000 + VAT per lot when sold.. or 2% of the sale price, whichever is the greater.
15: If the lot has been sold, We recommend it should be insured at the fall of the hammer prices against loss as a result of theft, fire, flood, or negligence. Responsibility to insure is that of the buyer at the fall of the hammer.
15A: Under RICS Regulations. LCA operates a complaint handling procedure for clients, copy is available on request.