Your last chance to complete in 2022
National Property Auction
Thursday 24th November 2022 at 10:00am
Addendum
You can find the addendum for this month’s auction by taking a look at the link below.
The addendum is where you can find any last minute updates or changes to the lots on offer – it can change at any time, including on auction day itself, so if you’re bidding on Thursday, make sure to regularly check back to stay in the know.
Welcome to your November
auction catalogue
Andrew Parker
Managing Director & Auctioneer at
SDL Property Auctions
It’s my pleasure to launch the catalogue for our November National Property Auction, taking place on Thursday 24th November – with over 190 lots featuring this month.
We have another great selection of properties in November’s catalogue, featuring everything from renovation projects for all buyers and budgets to nuclear bunkers and boat houses!
With plenty of properties for you to browse through this month, simply use the view all lots button at the end of this section to see the full range of over 190 properties on offer.
One of the most exciting and unusual properties being sold in this month’s auction is a former nuclear bunker in Louth, Lincolnshire. The bunker was originally constructed in 1959 and was intended to provide shelter for three observers who would monitor fallout and nuclear bursts in the event of an attack. After being decommissioned in the early 1990s, the bunker is now hitting the market with a guide price of £25,000+ plus fees – we’re almost certain this lot will sell with a bang!
Lot 1
- Nuclear Bunker, (Land lying to the North West of Kenwick Hill), Legbourne, Louth LN11 8QJ
- Guide price*
- £25,000+ (plus fees)
A slightly more tranquil property opportunity is on offer in Leicestershire, within the village of Cossington. Perfect for anyone with a love of being on the water, The Boathouse and Moorings on the banks of the River Soar offers a rare opportunity to acquire a substantial plot with space for 3 boat moorings. Benefitting from water and electricity connectivity and an idyllic rural location, the previous owner lived in a narrowboat on site, meaning there is future potential for mooring income from the other spaces. With a guide price of £225,000+ plus fees, this is a special chance for anyone with a passion for all things narrowboats to own their own piece of the waterways.
Lot 126
- The Boathouse and Moorings, Syston Road, Cossington, Leicester, Leicestershire LE7 4UZ
- Guide price*
- £225,000+ (plus fees)
If you’re someone who’s on the hunt for the opportunity to make a house your next family home then 622 Rayleigh Road in Southend-on-Sea could be right up your street. This three-bedroom, semi detached home is on a popular residential street and benefits from being within close proximity of local shops and amenities. The property is in good condition throughout, but may benefit from some small touches of modernisation. With an attractive guide price of £350,000+ plus fees, this is not one to be missed.
Investors with an interest in the hospitality industry are sure to be interested in the Miners Arms, a public house located on the edge of the Lake District which is currently let and producing £16,800 per annum. Situated on a large site, in the small town of Aspatria, the pub is arranged over four floors with a large cellar, used for storage and dispensary equipment. The current tenants have been in situ since 2007, giving this huge potential for a long term investment. With a guide price of £185,000+ plus fees, it’s not one to be missed.
If you’re interested in bidding in this month’s auction, you will need to register before midday on Wednesday 23rd November – to do so, simply head to our quick and easy online form here. It’ll take no more than a few minutes to complete and costs nothing to sign up.
There’s also a handy guide below which takes you through all our remote bidding options: online, on the phone and by proxy, so that you can bid in the way that you’re most comfortable with.
Our final National Property Auction of 2022 takes place on Tuesday 20th December. If you’re interested in selling by auction, take a look at our frequently asked questions below or contact our friendly team on 0800 046 5454.
Frequently asked questions
Over the past few months we have naturally received some questions from our bidders about how the buying process works. Largely we are operating as we always have been, we’re simply not able to see you in the auction room when you bid. We’ve put together these frequently asked questions to help guide you through your auction purchase.
A reserve price is the price stated as the lowest acceptable figure by the seller. This figure is confidential between the seller and auctioneer.
No, not always. The guide is an indication given by the auctioneer. Where the guide price is a bracket figure, the reserve cannot exceed the top end of the bracket price. If the guide price is a single figure, then the reserve can be up to 10% in excess of this.
After the auction has ended one of our team will contact you to advise you of the result.
Yes, and these vary depending on the method of sale associated with the property and the country in which you are purchasing. These are listed below – please note the reservation fee does not contribute towards the purchase price. Any further additional costs, which are payable in addition to the purchase price will be included within the Special Conditions that are attached to the Contract. Therefore all prospective purchasers must inspect the legal packs thoroughly. We also strongly advise prospective purchasers to request a legal representative reviews the pack for every lot that you may wish to bid on, so that you are fully aware of any additional costs, if applicable.
England and Wales
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Reservation Fee is subject to a minimum of £6,000.
Scotland
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000.
There are a number of options when selling by auction which can include paying no fees at all and having the buyer an additional fee instead.This is often an attractive option when you are selling due to a bereavement or a divorce and you have limited cash prior to the auction to fund the sale. Alternatively as a seller you can pay an initial fee and commission price for the sale of the property, meaning the buyer doesn’t have to pay anything extra, maximising the final sale price of the property
Regardless of which auction route is selected, there are solicitor fees to prepare the legal pack for your property, which typically costs around £350 to £500. After your home is sold, you will also need to instruct a solicitor for the conveyancing of the property, which can cost anywhere from £450 to £750.
Yes, if a reserve price is not met during the bidding process, then the lot will not sell. We continue to market our unsold properties after the auction and if a post-auction sale is agreed it will be carried out under auction conditions.
Bidding registration
Bidding registration closes at midday the day before the auction.
Registering to bid in one of our National Property Auctions is quick, easy and painless. By completing our online form, you can register for bidding online, on the phone and by proxy, meaning you can bid from the comfort of your own home. There’s no need to wait for the legal pack to be completed before registering, there’s no obligation to bid on the day and there’s no money taken prior to bidding.
Common mistakes when buying property at auction (and how to avoid them!)
For some of you, buying at auction will be like tying your shoe laces, while for others it might be a brand new experience to learn more about. There are a number of things to watch out for when buying at auction to avoid making some silly mistakes – in this guide we’ll be taking you through them!
1. Not reading the legal pack
One of the golden rules of buying at auction is to always read the legal pack – even better, to have a solicitor read through it on your behalf. Legal packs are compiled in the run up to an auction and include everything you could need to know about a property – including things like ownership and title deeds, service charge accounts and any fees associated with the sale. If you and/or your solicitor don’t read through it thoroughly, you may miss out on crucial information for your purchase and therefore come across some nasty surprises along the way. These could look like an unexpected VAT bill or taking over a property that has rental arrears.
If you’re even considering buying a property, starting with legal pack is a great place to begin your auction journey. It’s also just as important to read through the special conditions of the sale too.
2. Not viewing the property in advance
Purchasing a property without viewing it is a little like buying a car without taking it for a test drive. Just as you’d want to feel comfortable in the car you’ve bought, you want to make sure you’re satisfied with the condition of the property you’re about to spend thousands of pounds on.
Pictures and virtual viewings on our website are a great starting point to get a feel for the property you’re interested in, but wherever possible you should aim to see the property in person. This allows you to pick up things that you aren’t necessarily able to tell through photographs – such as any issues with damp or ventilation, the heating systems or taking stock of any recent repairs to the property. It’s just as important to have a look outside too – take what’s the external condition like? Are there any issues with Japanese Knotweed? How does drainage look?
Viewings can be booked directly through our website, where available. If you have any questions, remember you can always get in touch with our team!
3. Not checking recent repairs
As mentioned, on your viewing, it’s really important to take a good look at any recent repairs to the property, no matter how big or small they may appear. You may want to ask a professional for their opinion if you’re uncertain of anything, especially when checking to make sure that something is compliant or structurally sound.
If you don’t have these checked and then find any issues after purchase, you may end up facing unexpected additional costs to have them rectified, so knowing as much information in advance is always important! Any important information will also be set out in the property’s description and documents – even more a reason to make sure you give it a thorough read through.
4. Not checking planning regulations in advance
If you’re buying a property with the intention of renovating or redeveloping it, it may be that some of the work you have planned may require planning permission from the local authority. While you obviously won’t be submitting a planning application in advance of your purchase, we would always recommend checking in with the planning teams within the council area that you’re purchasing in before bidding.
There’ll also be occasions in which development plots will be sold with planning permission in place – these can be useful to help you get going straight away!
5. Not setting a budget
With auction purchases, you’ll usually exchange as soon as the property is sold on auction day, where you’ll then pay your deposit. With your deposit usually being 10% of your purchase price, it’s really important that you set your budget before bidding and stick to it. This helps to make sure that you don’t find yourself in a sticky situation, both when paying your deposit (if it’s more than you intended) and also finalising any completion balance. It may be tough to stick to your budget if bidding gets exciting, but it’ll be worth it in the long run!
For more tips and tricks about buying at auction, take a look at our buyer’s guide.
Remember to tune in!
Our Auction Events are broadcast online, live from our auction studio in Nottingham.
It’s really easy to tune in and watch on the day. The auction begins at 10:00am and will run throughout the day, with our each of our auctioneers taking to the rostrum. Simply visit our website where you’ll be able find a link to the auction on the day or follow the link below!
Our buyers terms
If you’re planning on bidding at auction, it’s really important that you do your due diligence prior to the auction – part of which is reading our buyers terms which you can find below. Make sure to read them in full to ensure you’re prepared to bid.
Guide to additional fees
Important notice relating to fees, costs and charges payable by the buyer in addition to the purchase price.
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs or reservation fees. All prospective buyers are advised to inspect the legal documents including the contract and special conditions of sale and seek their own independent legal advice as to the full cost of purchasing a specific property.
Homes under the Hammer
If you’re successful in this month’s auction, you could take part!
Despite the current restrictions the Homes under the Hammer team are still looking for properties to feature in upcoming episodes of the show, even though they can’t be in the auction studio. If you’re interested in taking part in the programme or would like any information about what is involved in taking part please contact Vaila Walterson on 07814 079910 or Emily Hazlitt on 07966 167076 or alternatively use the button below to contact them via email.
Legal Packs
We recommend reading the legal pack prior to the auction, to make sure you’re aware of all the information before bidding.
It’s really important that you take a thorough look through the legal pack for the property you’re interested in buying before placing a bid, as they lots of important information regarding your purchase. We recommend going through the pack with your solicitor prior to the auction. To view the legal pack for a property you’re interested in, simply click through to the lot using the list linked below, and select ‘legal pack’ on the right-hand panel.
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