Auctions in Tenerife

Our Terms and Conditions

Auctions in Tenerife - Please read carefully our terms and conditions below as they apply to your circumstances. A copy of these T&C's is available in Spanish and English:-

Selling A Property

• By instructing us to add your property to our next auction you agree to be bound by the Online Auction Entry Conditions contained within our standard contract which you must sign.
• To benefit from our low commission rate of 3% you will be required to pay our £59 entrance fee to cover the costs in preparing your property and conducting the necessary checks for auction. This does not include the Virtual Reality Tour and the fee is non negotiable.
• You further agree to let us market the property for in our websites and other property related websites on the internet as well as within our offices and agency windows.
• You further agree that Auctions in Tenerife will collect and hold any deposit from the purchaser in their client account on your behalf until the signing at the Notary. You also agree that TPA will be entitled to collect from this holding deposit its commission or part commission in accordance with the sales contract signed.
• Our commission will become due once deposits have been paid and contracts signed and will be deducted or partially deducted from the initial deposit on the successful acceptance of the corresponding online bid. If the vendor withdraws from the sale after deposits have been paid then we will refund to the client his initial deposit and pursue the vendor for 50% of our commission in accordance with the signed sales agreement. If the buyer defaults on the purchase Auctions in Tenerife will still be entitled to 50% of its sales commission which will then be deducted from any deposits paid.
• As the vendor, you agree to supply us with any necessary documentation required by us to complete our checks on your property and present it for auction. TPA will have the discretion to withdraw any property from the auction that it has not completed or received the appropriate paperwork for. It will be the responsibility of the seller to provide the information required as contained within our Buyers Guide pamphlet.

Buying A Property

• When bidding for a property it is your responsibility to ensure that you have sufficient funding available to complete the purchase.
• Once a bid has been accepted by the vendor a €1000 deposit will become payable with the remainder of a 10% being paid within a further 14 days.
• Solicitors will be instructed if required and the necessart documentation will be drawn up. Mortgages etc will need to be applied for but we can assist in the necessary application where needed.
• Once the contract has been signed and your deposit paid, should you decide to pull out and in accordance with Spanish Law, you will lose your deposit. If for any unforseen circumstances the vendor pulls out you will receive initially your full deposit back from Auctions in Tenerife and according to Spanish Law you may be able to sue the vendor for compensation - your legal representative will be able to advise you.
  

Auctions in Tenerife will take every precaution to ensure the property and its details are correct, we can not be held liable for any misleading information given by the property vendor or his agent. The buyer is deemed to have taken legal and professional advice prior to bidding.