scottish public sector property
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Auctions of scottish public sector property are not common in Scotland. Nevertheless properties may be acquired in this way and an authorised agent can bid up to a pre arranged limit. Auctioneers will take instructions to do this on behalf of potential purchasers. One difficulty is that auctioneers usually require a deposit from the successful bidder at the auction so a member of staff with authority to sign for large sums of money will need to be present. As any bid accepted is binding, the title, surveys and all other investigations must have been completed before the auction and sufficient time must be allowed for this to be done. Property Advice Division and Solicitors must therefore be involved prior to the auction to carry out the relevant investigations. The auctioneer may allow a joint deposit receipt system to be used in instances of difficulty. Property Advice Division and Solicitors should be asked if they will send a representative to the auction to advise the business area.