Venmore Auction December Catalogue 25 (1) - Flipbook - Page 24
ONLINE AUCTIONS BUYING GUIDE
Venmore Online Auctions is a new, innovative and pioneering platform for buying and selling property. It
provides all the benefits synonymous with traditional auctions, including: speed and certainty of sale,
transparency and zero risk of gazumping or double-selling, but with the added advantage of being able to bid
pressure-free from the comfort of your own home or office via desktop, tablet or mobile phone.
Immediate exchange
28 day completion
Longest established Auction House in Merseyside
Buyer9s Premium (Non Refundable) – this is 1% + VAT (1.2% incl of VAT) of the final purchase price, subject to
a minimum of £2,500 + VAT (£3,000 incl of VAT) Unless specified differently in Sales Particulars or
Addendum.
Non-refundable 10% deposit payable on winning bid
REGISTRATION
A STRAIGHTFORWARD PROCESS FROM START TO FINISH
In order to bid at Venmore Online Auctions you will first need to create an account. This requires
you to verify your email address, by clicking an activation link that we9ll send to you via email. Once
you9ve created an account you can 8watch9 lots that you9re interested in (you9ll be kept up-to-date
throughout the auction cycle), as well as gain access to the legal packs. In order to place a bid on a
lot you will need to complete the bidder registration steps, as detailed below.
Please note, the first time you register to bid you will also be asked to verify your mobile number,
this is required so we can easily keep in touch. You will also need to provide to the Auctioneers
certified photo ID (e.g. driver9s licence or passport) and certified proof of address (dated within the
last 3 months) in order that we can carry out our standard Anti Money Laundering checks, prior to
you being able to enter a bid on any lot.
ACCEPT
TERMS
BIDDER
SECURITY
AUCTIONEER
REVIEW
ENSURE YOU READ, UNDERSTAND AND ACCEPT THE TERMS AND CONDITIONS
You will be asked to read and accept our Online Auction 8Terms and Conditions9. Additionally,
there may be specific documentation relating to the sale of the property you9re registering to bid
on that will need to be read and accepted before you are able to bid. Once accepted, you will
receive a copy of the document(s) via email for your own records.
REGISTER YOUR CREDIT OR DEBIT CARD FOR THE BIDDER SECURITY
To bid online a holding fee is required. In order to bid you will be required to register a credit or
debit card. The Holding Fee is a non-refundable £7,000 payable on a winning bid, which will be
deducted from the 10% deposit due. We use Stripe Live (StripeSca) who provide a secure, online
card registration facility, and they will attempt to place a 8hold on funds9 on your account for the
Holding Fee amount (often known as a 8payment shadow9 as no money is taken at this stage). The
Holding Fee will be clearly displayed when registering your card.
On the fall of the electronic gavel, the winning bidder9s card will be automatically debited for the
Holding Fee, whilst all the unsuccessful bidder9s cards will have their shadow payments released
(this can take several days depending on the card provider). For more information about this
process please read the detailed explanation at the end of this document.
FINAL STEP – AUCTIONEER REVIEW
Once you have completed the bidder registration steps, Venmore will review your registration to
bid. We may contact you to obtain some additional information, so that we can verify your identity
electronically – this is a quick and simple process which leaves a 8soft footprint9 on your credit file
and won9t affect your credit score. You will be notified by email as soon as you have been
approved to bid.
