Frequently Asked Questions?
Whoobid is an online property auctioning platform for estate agents to advertise and auction their properties giving potential buyers a stress-free, simple method of purchase. Every party in the process benefits from transparency and security.
Please look on the 'Types of Auction' tab under the 'Property Auction' tab at the top of the page for a detailed answer.
As part of our money laundering obligations we are required to check the identity of our bidders. During the pre-bid process we take card details in readiness for you winning the auction, no payment will be processed unless you are the successful bidder and in which case whoobid will process the Auction fees as per the terms & conditions.
When you buy through whoobid you pay a fee at the end of the auction in addition to the winning bid of 3% inc. VAT, this is subject to a minimum fee of £4,800 inc. VAT. This fee is paid in both the traditional and modern method auctions and is non-refundable.
If you are the successful bidder then you will be given the account details for the sellers solicitors, your 10% will be paid directly to them. Whoobid does not hold any client money on account.
You can view the auction pack with all the legal documents on your chosen property listing under the 'Documents' tab, under the property images. Please be advised that these are uploaded as and when they are available and you will need to be registered with whoobid to download them.
Here at whoobid we are committed to security and we need to meet money laundering guidelines and obligations, identity checks are a requirement of the house buying process.