• Prepare for an online auction. As we continue to shift to a digital world, auctions tend to be online. Make sure you have adjusted from the previous ‘in room’ experience you may be used to. 
• Be on the front foot. Register in advance, don’t leave it until the day of the auction.
• Along with that, when you register early, you will have a better understanding of your competition. Bidding often opens online 48 hours before the final deadline. 
• Get the legal pack over to your solicitor ASAP to check there are no unwelcome surprises in the report on title.
• Be sure you understand the farming arrangements. As a potential landowner, there are some key questions to consider: Is the land tenanted? Who is the tenant? What are the recent land uses? Are there any schemes running? 
• Know your potential neighbours. Frequently, agricultural land for sale is of interest to neighbouring property owners. It can be helpful to know who the neighbours are, and if they are interested in placing a bid themselves. Neighbours could be potential competition or good for collaboration depending upon the land in question. 
• Compliance will be a requirement at the point of sale, so ensure you have your anti-money laundering house in order. 
• If you are bidding on behalf of a client, ask for clear instructions and authority to bid. The auctioneer will expect to see evidence that the client granted permission. 
• Look at Land Registry Title documents. To have an idea of what would be an appropriate bid, it would be useful to see how much the seller paid or what the last valuation was. This can provide some insight on what the seller’s expectations are. 
• Finally, be sure you have your funds ready. If your bid is successful, the auctioneer expects the deposit and their fee to be paid within 24 hours.

Further information

Contact Chris Spofforth