Auction expert answers buyers most frequently asked questions
9th February 2006
1. Are These Your Own Properties You Are Selling?
Quite frequently in an auction catalogue you will see notices along the lines of "Estate Agents Act 1979 - A Director of XX Auctioneers has an interest in this property".
The Estate Agents Act 1979 does indeed require all selling agents, including auctioneers, to declare any interests they or an associate may have in a property they are advertising for sale.
This act is wide and far-reaching.
The word "associate" covers employees, relatives, or other connected business persons.
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