Choose Your Sales Method
Upon the close of the auction, the successful purchaser is required to pay a reservation fee/deposit and sign a reservation form. In return for this the buyer reserves the right to unconditionally exchange contracts on a property at an agreed price within 28 days and complete 28 days thereafter. This method is more suited to the residential purchaser, allowing time for surveys and finance to be arranged.
Contracts are exchanged immediately, with completion taking place within the next 28 days. Complete security is provided but this method is more suited to the property professional as it is legally binding.
Choose your Preferred Payment Method
You can opt to pay the sales fee instead of the fee being charged to the purchaser. If you decide to do this we will take a non refundable deposit from the buyer to secure the sale.
Reservation Fee (Paid by the Buyer)
Under this payment method, the buyer will pay a non refundable reservation fee in addition to the purchase price. This covers the costs of the auction and as this is paid on a non refundable basis, you know the buyer is serious and in a proceedable position.
The Auction & Sales Progression
Once you have selected your auction and payment type, you will be assigned a personal auction coordinator who will keep you updated with viewing feedback and bids. Your auction coordinator will become your point of contact; they will provide weekly activity updates and guide you through the process. Upon successful conclusion of the auction, our expert sales progression team will manage the sale through to completion and keep you updated at every step along the way.
If you decide to sell your property via auction, we will produce an auction pack on your behalf. These packs contain important information about your property that a potential purchaser needs when deciding whether to bid. These packs include the following things:
- Local Authority Search
- Property Information Questionnaire
- Water & Drainage Search
- Reservation Form or Contract
- Title Plan & Register or Epitome of Title
- General Terms & Conditions
- Fixture & Fittings Form
- Any special Conditions of Sale
All sellers will be required to pay for the preparation of an Auction Pack. The cost is £199 + VAT (£39.80) = £238.80.
An increase in interest on your property
The pricing strategy that we employ creates increased levels of interest and viewings that heightened the chances of selling your property quickly.
Achieve fair market value
Think about how an owner of a piece of fine art maximises its value? They sell it at auction! Due to the increased marketing and unique pricing strategy that we operate, we guarantee to get you the fairest price in the current market. A property will always sell for what its worth, plus you have a reserve price so you know it won't sell for anything less than the one you are happy with.
A fixed date to sell & move
Fixed time scales for exchange & completion provide clarity for both parties. A fixed time scale is not often set when selling a property through private treaty with sales taking much longer than anticipated. This added security is a big benefit to most vendors looking to move forward with confidence.
If you are unsure about any of the information provided in this guide, please do not hesitate to contact a member of the Auction Department for further clarification.