THE HAIR & SON GUIDE TO BUYING AT AUCTION

Auctions cover a wide range of lots from houses, flats and offices, to land, garages and even whole industrial estates. Whatever you’re looking for, a bargain or investment property, you’ll be sure to find something that fits your criteria at an auction. But the key to securing the best deal lies in the preparation. From the initial search to the sale completion, here we outline some of the main steps you must consider when buying at auction.

Search

Register for our property alerts to be kept up to date by email with all the latest lots that match your requirements. Contact our Auction Team to receive information about upcoming auctions, auction catalogues and late entries.

Details

When you have found a property you are interested in, look at the particulars on our website which will contain details about the lot including photos and guide prices. You may also wish to look through the catalogue which is available on our website normally two weeks before an auction date.

Block Viewings

Be sure to attend one of the block viewings and ask one of the team any questions you may have. If possible, visit the property again at another viewing if you are interested, and also take someone with you to help you make a better judgement before deciding to bid.

Survey

As a property at auction may not be in the best condition, it is important to consider having a survey or inspection before you choose to bid. Make sure you have received any reports before the auction so you can make an informed decision before bidding begins.

Legal

Appoint solicitors as early in the process as possible. They will need to inspect the legal packs for any properties you are interested in, and check other information such as searches and planning permission, which are all available online. Their advice at this stage could prove invaluable as you cannot change your mind after the hammer falls and you have exchanged contracts.

Finance

On the day of the auction, you will need 10% of the purchase price (subject to a minimum amount), any buyer’s premium, as well as the auctioneer’s administration charge. These figures can be found in the catalogue. The remainder of the purchase price and fees will be needed for completion (usually within 28 days of the auction). It is important to also speak with your insurers, as after exchange, you will be responsible for the insurance of the property.

Auction Day

Make sure you check the addendums list which will list any lots that have been withdrawn or sold prior, postponed until a later auction date, or any last-minute changes to the catalogue entries.

Arrive early. The auction room can be very busy with limited space, and if you wish to bid, you should make sure you are in clear view of the auctioneer's rostrum.

Pre-register to bid. Once registered you will receive a bidding number which we will ask you for if you are successful. If you have any questions, be sure to ask one of the Auction Team before the start of the auction. Ensure you make it clear when you wish to bid on a lot, either by raising your hand or holding up a catalogue.

Afterwards

When the hammer falls, you have exchanged contracts and have entered a legally binding sale. If you are the winning bidder, you will need to complete the Memorandum of Sale and pay your deposit and fees.

You will need to have two forms of ID with you; one photographic (e.g. driving licence or passport), and one proof of address (e.g. utility bill dated in the last three months). If multiple people are to be named on the memorandum, you will need ID for all parties.

If a property fails to reach its reserve and it is not sold in the room, you can speak with a member of the Auction Team to express an interest. It may be possible to negotiate a sale after the auction, which would proceed under normal auction rules.

Introducing Rob Hennessy

Starting his career as an office junior and progressing through the ranks to branch management, Rob has over 25 years’ experience as a property professional dealing with residential and commercial sales as well as land and investment transactions. With a clear vision of current market trends as well as areas of the market that are affected by change, Rob is always up to date with the ever changing market.

Rob works closely with all the departments within Hair & Son, combining a vast pool of knowledge and experience to ensure the right result for our clients first time, every time.

Accurate and professional advice is the key to a successful sale at auction which is proven in our year to date success rate of 88%; well above the industry average and the highest in the County.

For an accurate Auction Appraisal contact Rob Hennessy on 01702 39 49 59 or at robhennessy@hairandson.co.uk.

Wishing to Buy or Sell at Auction?

Buying at auction is an exciting way to purchase a property. The Hair & Son auction room is filled with people looking to buy property, from bargain hunters to seasoned investors. This reflects the rising popularity of auction as a route to market offering more certainty for buyers and sellers alike.

Our next property auction is on Thursday 16th May, starting at 3pm from Saxon Hall in Southend. If you would like to learn more about available lots and what to expect at auction, visit our dedicated webpage or email auctions@hairandson.co.uk.


The Great Pier Walk in Southend

Sunday 6th May from 10.00 till 4.00.

Hair & Son have sponsored this event for many years through the sun and rain. We hope for great weather this year for the walk and for everyone else as this year's event is taking place over the first May Bank Holiday. Please download the attached entry form and enjoy a refreshing walk along the worlds longest pleasure pier. Please also take time to visit the Lifeboat shop at the end of the pier - it is one of the busiest in the country - they will always give you a warm welcome.


THE EVOLUTION OF SOUTHEND AIRPORT

As London Southend Airport continues to make both local and national news for its award-winning services, we decided to dedicate this edition’s area spotlight to the ever-developing airport which is fast becoming an integral part of the town. From its 1914 WWI origins, its status as the UK’s third busiest airport in the ’60s, all the way through to the Stobart Group’s £150 million investment, we take a look at some of the key dates in Southend Airport’s history.

Since the Stobart Group acquired Southend Airport in 2008, the award-winning airport has grown from strength to strength. Renowned for its speedy security screening and with its ever-increasing variety of destinations, London Southend Airport is now the airport of choice for many holidaymakers from across the town and beyond.

The excellent service and facilities, including the Holiday Inn Hotel just one minute away and Southend Airport Railway Station just metres from the airport exit, have already earnt the airport several awards including the ‘Best Airport in the UK’ (with under 3 million passengers per year) 2015 & 2016 from the Airport Operators Association, the ‘Which? Best in Britain Airport Passenger Survey’ 2013, 2014 & 2015 and most recently, the airport topped the Which? 2017 survey ahead of the other London airports. But as plans to invest even more into this popular airport continue, let’s take a look back at some key dates and events in Southend Airport’s timeline.

Southend Airport’s roots can be traced back to 1914 when the War Office listed the land as an airfield for fighter pilot flights during WWI. The very first recorded flight took off in 1915, piloted by Flight Sub Lieutenant A W Robinson who was forced to abandon his chase of a German Zeppelin after engine failure at 6000ft and subsequently landed in the Estuary mud in Leigh. Both the Royal Naval Air Service and Royal Flying Corps (later merged together in 1918 to form the RAF) had squadrons based at Southend during the First World War.

In the years that followed, the site was bought by Southend Council in 1933 and officially opened on Wednesday the 18th September 1935 as a municipal airport. The opening ceremony was an unforgettable day including a formation display by members of the

Southend Flying Club, performances from the Astoria Grand Orchestra and the chance for members of the public to take a pleasure flight in an Avro 642 over Southend. However, these initial years were short-lived, as like many sites across the UK, the airport was commandeered by the Air Ministry when WWII broke out in 1939. It then became temporarily known as RAF Rochford where several fighter squadrons were stationed to defend against the Luftwaffe.

At the end of WWII, the airport was once again returned to Southend Council and civilian flights recommenced. Following the introduction of two new runways in the mid-1950s and with continual developments in aircraft design, Southend Airport’s success reached new heights during the ’60s. Southend Airport was now the UK’s third busiest airport, famed for the car and passenger aircraft Carvair which was operated by the British United Air Ferries airline. The air ferries had large bulbous noses which opened like a door where freight and cars were loaded, with the cockpit set above. Each could take up to five cars and twenty-three passengers and made regular flights to the Channel Islands and Europe. However, during the ’70s, as other UK airports grew and flew to further destinations, and with cheaper ferry routes to Europe from the port of Dover, this boom period began to decline. As the need to fly your own car on holiday became more of a luxury than a necessity, the Carvair and similar aircraft soon became redundant. As a result, instead of focusing mainly on passenger and commercial travel, the airport turned its attention towards aircraft maintenance and engineering.

Some years later in the ’90s, after a period of stable but uneventful years, Southend Council sold the airport to Regional Airports Ltd who took over proceedings until 2008. In January 2008, the airport’s true revival began when the Stobart Group bought it for £21 million. Their logistical prowess coupled with their £150 million investment, has seen the opening of a new air traffic control tower, the Southend Airport railway station, a much-needed runway extension as well as an enlarged terminal with an increased number of check-in desks and security screenings and a variety of shopping and hospitality facilities. With development showing no signs of slowing down and strong partnerships being formed with popular airlines including EasyJet and Flybe, we can look forward to seeing what the airport will offer in the years to come.

The evolution of Southend Airport has opened many amazing travel opportunities for residents in our local area. If you are interested in buying, renting or opening a business in close proximity of this important structure, please check out our most recent listings.