These Terms and Conditions (“Agreement”) govern the relationship between iProxyBid.com® (“we,” “us,” “our”) and the client (“you,” “your”) in connection with our proxy bidding services.
By submitting the Client Registration, you agree to be legally bound by the following Terms and Conditions:
1. Authorization of Proxy Bidding
1.1. By completing the registration form and selecting “Yes” under Proxy Bidding Authorization, you authorize iProxyBid.com® to act on your behalf and place bids at property auctions in accordance with your instructions and our internal processes.
1.2. All proxy bids will be placed based on the maximum budget and specific lot numbers provided by you in the Client Registration form.
2. Client Obligations
2.1. You are responsible for providing accurate and complete personal and property interest information.
2.2. You agree to:
Provide all required documentation for identity verification, legal due diligence, and payment arrangements via your appointed solicitors.
Supply accurate details of your appointed solicitor and maintain communication with them.
Review and understand the legal pack for each property before bidding.
Inspect the property or acknowledge that you are bidding without inspection.
Confirm your awareness of the deposit and full payment timelines.
3. Legal and Financial Commitments
3.1. Deposit Requirement: A deposit of 10% of the winning bid price is to be paid upon successful bidding. Your solicitor will be responsible for processing this payment.
3.2. Final Payment: The remaining balance must be paid within 28 days of the auction’s conclusion. Failure to meet this deadline may result in legal action or forfeiture of your deposit.
3.3. You confirm your understanding that bidding at auction is a legally binding commitment.
4. Optional Services
You may request any of the following additional services:
Property survey coordination
Building and construction services
Land and planning services
Proxy bidding & market analysis
Legal or financial advisory support
If selected, these services may incur additional fees, which will be agreed upon in writing.
5. No Guarantee of Success
iProxyBid.com® provides best-effort bidding services but makes no guarantee of success in winning a property at auction. Our role is limited to submitting proxy bids per your authorization.
6. Termination of Services
We reserve the right to refuse or terminate proxy bidding services if:
You provide false or misleading information.
Required documentation is not submitted in time.
Payment obligations are not met.
There is a breach of these Terms and Conditions.
7. Liability Limitation
iProxyBid.com® is not liable for:
Auctioneer actions or decisions.
Property defects or valuation discrepancies.
Legal issues arising from property acquisition not disclosed in the legal pack.
Any delays or failure to complete caused by third-party professionals (e.g., solicitors, mortgage lenders).
8. Confidentiality and Data Protection
We will handle your personal information in accordance with our Privacy Policy and relevant data protection laws. Your information will only be shared with necessary third parties such as auctioneers, solicitors, and surveyors.
9. Governing Law
This Agreement is governed by and interpreted in accordance with the laws of England & Wales, and any disputes shall be subject to the exclusive jurisdiction of the courts of that jurisdiction.
10. Agreement
By submitting the Client Registration form you confirm that:
