Online Auctions are a fast and efficient way to purchase property. Plus, with our online bidding system, you will not end up putting in a higher bid than is necessary to secure your purchase.
At the close of the Online Auction there is an agreement to sell. A Contract is signed immediately, the deposit is paid and the completion date fixed.
To register for our online auction, you will be required to register on the Auction Passport System and provide the following:
View the Property
In the weeks prior to an auction we arrange Open Viewings for most of our properties. We strongly urge anyone that is interested in a property to view it first.
Obtain Legal Documentation
The Vendor's Solicitor will prepare a Legal Pack which can be viewed from the Property's page on our website. Legal Packs contain many important documents that should be reviewed by your Solicitor.
Arrange Your Finance
We would recommend that if you are buying a property using a mortgage you arrange the necessary finance prior to making an offer.
Terms & Conditions
All Buyers should make sure they have read and understood all Terms & Conditions prior to sale, by bidding you are stating that you have agreed with our Terms & Conditions. All sales are final at the close of the Online Auction.
Guide and Reserve Prices
Each auction property is advertised with a Guide Price but is also subject to a Reserve Price. The Guide Price is the expected level where the bidding will start. The Reserve Price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell.
What does AMV mean?
AMV means ‘Advised Minimum Value’, which is the minimum price that the client selling the property would accept.
A deposit of 10% of the purchase price (minimum of £5,000) is payable on all purchases. If your bid is successful, our system will automatically charge your registered card the minimum deposit of £5,000 and you will be expected to pay the remainder of the balance via Bank Transfer within 24 Hours of the Online Auction Closing. You will receive an automated email with the payment details but if you need clarification please contact BRG Gibson Auctions directly.
All successful purchasers will be required to pay the Administration Fee of 1% of the purchase price, subject to a minimum fee of £2,000 (subject to VAT). The minimum fee will be automatically taken at the same time as the deposit and you will be expected to pay the remainder of the balance via Bank Transfer within 24 Hours to the bank details provided by email. Failure to pay the relevant deposit and fees will result in a breach of contract.
Please note that all properties sold by BRG Gibson Auctions will use the unique Auction Contract provided in the Legal Pack for each property and the Online Auction Terms & Conditions as agreed when registering and emailed to each registered buyer.
Offer Prior to the Auction
You can only bid for online properties via our online bidding system on our website, no offers can be accepted prior to the live auction.
Offers on these properties can be made only via the Online System, you will be required to sign up for the EIG Auction Passport (free to register and secure), this will request payment, solicitor, identification and personal details, it is essential that these are accurately filled in. One of our team will check your application to bid and you will receive a confirmation email once you have been authorised. By registering to use the system you will be agreeing to The Online Terms and Conditions.
The automated auction system will let you know the current highest bid and any previous bids. If someone else bids higher than your bid our system will email you to let you know. If you are the successful bidder we will send you an automatic email.
The remaining funds will be paid by your solicitor prior to completion within the contractually agreed time, which can be found in the individual property’s legal pack.
If you require advice on Buying or Selling via Online Auction, please contact our property auction offices: