How does IAMSold auction work?
Predominantly, the buyer pays a non-refundable Reservation Fee when the auction is successfully concluded. The fee is held by iamsold to reserve the property to the buyer and show their commitment to the purchase. It is later used to pay the Estate Agent and Auctioneer who work in partnership to provide the auction.
Can you get a mortgage on modern method of auction?
Speed – The Modern Method of Auction offers speed with a completion timeframe of within 56 days, allowing buyers to purchase with a mortgage. We offer completion timescales of as little as 28 days with our Traditional Method of Auction.
How do you bid on a house at auction?
The 4 Ways to Bid at an Auction:
- In Person. If you can attend the auction room on the day, you are able to bid in person. ...
- Proxy Bid. If you cannot attend the auction, you can choose to bid by proxy. ...
- Telephone Bid. ...
- Internet Bidding.