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What is a property Auction?
It is a quick and efficient way to sell all types of properties where buyers compete for your house, flat or commercial unit.
It is an open and transparent process where buyers are able to view a property and then on the sale day bid against each other driving the price up, so the seller gets the best market price on the day.
It is also great for the buyers as they know with certainty that if they stay one bid ahead of the other bidders when the gavel falls the house is theirs. No secret deals - so peace of mind for sellers and buyers.
How Long Does an Auction Sale Take?
An auction sale is the quickest way to sell a property. There is a fixed timeline with completion 28 days from the auction day.
We recommend three or four weeks marketing prior to the auction, so from your instruction to receiving the money in your bank account just 7 or 8 weeks.
All the legal documents are done in advance of the auction day, so there are no annoying legal delays and no surprises.
An auction sale sets in stone a framework that both sellers and buyers have to follow, so clarity and certainty for all parties.
How Does a Property Auction Work?
We market your property on line with Zoopla, Rightmove and other online platforms, we put a traditional sale sign on the property and arrange viewings.
We agree a reserve with you before the auction and on the day offer it for sale.
The price is set at the fall of the hammer.
One of the unique features of an auction sale is the auctioneer takes a 10% non-refundable deposit from the buyer on the day that secures the property.
Completion has to take place within 28 days although some sales will complete even sooner.
At a property auction you as the seller have the knowledge that the sale will complete at the agreed price and on time. The legal framework means a buyers can’t chip away at the price and there are no chains to collapse.
A property auction is a smooth, speedy and hassle-free sale with peace of mind for both sellers and buyers.
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