Sellers Guide 3 – Customer Due Diligence

Customer Due Diligence: What Vendors Need to Know Before Selling at Online Auction

 

Selling your property through YooWin is fast, efficient, and offers greater certainty than traditional sales – but before your property can be listed, we are legally required to carry out Customer Due Diligence (CDD) checks.

 

These checks are part of our obligations under anti-money laundering (AML) regulations, and they apply to all sellers, whether you’re a private individual, company, or acting on behalf of someone else.

 

Here’s what you need to know—and what you’ll need to provide.

 

Why Do We Need to Verify You?

 

Just like estate agents and solicitors, we are in a regulated business sector and are legally obliged to confirm the identity of everyone we do business with. This helps protect against fraud, money laundering, and other illegal activity.

 

Our checks are carried out using either Credas or FCS compliance, a secure, government-compliant online verification platform that allows you to upload your documents safely from your phone or computer.

 

The process is quick, straightforward, and must be completed before we can legally list your property for auction.

 

What Documents Do You Need to Provide?

 

We’ll ask you to provide two types of documents—one for proof of identity and one for proof of address. These are known as List A and List B documents.

 

List A – Proof of Identity (including a photograph)

Choose one of the following:

  • A valid, signed passport
  • A valid, signed UK photocard driving licence
  • A HM Forces, police, or government-issued identity card
  • A valid firearm or shotgun licence

 

List B – Proof of Residence (showing your name and address)

Choose one of the following (dated within the last 3 months unless stated otherwise):

  • An Inland Revenue tax notification or self-assessment statement
  • A household insurance certificate
  • A utility bill (excluding mobile phone bills)
  • A council tax bill
  • A council rent book showing 3 months of payments
  • A mortgage statement for the most recent accounting year
  • A bank, building society, or credit card statement

 

Please note: we may carry out electronic verification checks to confirm the validity of any documents you submit.

 

Evidence of Property Ownership

 

In addition to identity and address documents, you’ll also need to provide evidence that you are the legal owner of the property being sold.

 

This is typically done by supplying one of the following:

  • A copy of the title register (available from HM Land Registry)
  • A recent official copy of title deeds from your solicitor
  • Other legal documentation confirming ownership (for unregistered land)

 

This step is essential for confirming that you are legally entitled to sell the property and that all sale documentation is accurate.

 

Selling as a Company, Charity or Other Entity?

 

If you’re selling a property as a limited company, trust, charity, or other type of organisation, the process is slightly different.

 

For limited companies, we require:

  • Certificate of incorporation
  • Confirmation of directors and shareholders (via Companies House)
  • Verification of the director authorising the sale
  • ID and address documentation for all beneficial owners holding 25% or more of the share capital

 

For trusts, partnerships, pension schemes, local authorities, registered charities, or non-UK individuals, please contact us early so we can confirm exactly what documentation is needed for compliance.

 

When Do You Need to Complete CDD?

 

We recommend you complete the verification process as soon as possible after instructing us to sell your property. Without CDD clearance, we cannot legally:

  • Launch your property to market
  • Include your lot in the auction catalogue
  • Progress any sale

 

Completing this early ensures no delays to your sale and allows us to begin marketing straight away.

 

How We Make the Process Easy

 

Once you’ve instructed us, you’ll receive a secure link to the Credas or FCS platform, where you’ll:

  • Upload your chosen identity and address documents
  • Take a quick selfie for facial recognition
  • Submit your information through their secure system

 

The whole process takes just a few minutes and can be done on your smartphone or computer.

 

Need Help? We’re Here for You

 

If you have any questions about the documents required, the verification process, or you’re unsure which category you fall into, our team is always happy to help. We’ll guide you step by step to ensure everything is in place for a smooth, compliant sale.

 

Customer due diligence is a simple but essential step in the auction process.

Complete it early, and you’ll be one step closer to a fast, secure sale with total peace of mind.