Questions Related To Selling Property At Auction

Auction Agent sells a wide range of property types and values. This includes residential, commercial, mixed use properties and land. Please feel free to contact a member of staff if you are interested in selling a property.

Auction Agent only charges a fee upon sale. We do not charge an entry fee, unlike other auctioneers. This significantly decreases the barrier to entry and makes the decision to sell with us a lot easier.

We can help sell your property as quickly as 4 weeks from the day of the auction. It is crucial for properties to be marketed properly and sufficiently. The general rule is, the longer a property has been marketed, the more interested parties we can gather. A property is typically marketed for 4 to 6 weeks prior to the auction day.

A seller’s fee is the commission payable to the auctioneer upon successful exchange of contracts. The rate of fee varies from property to property. Please contact a member of staff for more information.

There are no criteria for this. Choosing whether to sell through auctions or real estate agents should only be decided by the urgency in which you want a property sold. Auctions generally complete property sales significantly faster than a real estate agent would.
Yes, this is often referred to as the Reserve Price. Sales cannot go through if the maximum bid does not meet or exceed the reserve price. You can, therefore, rest assured that you will not sell a property significantly lower than you would want to.
It is general practice for a member of staff to visit the property to inspect the condition of it. We will also ask further questions to get a better understanding of the property. Furthermore, we will advise you what we believe the property would be sold for and what we suggest the best guide price should be.
We have various ways of marketing properties including – but not limited to – popular online property platforms like Rightmove/Zoopla, on our website, through our private database of investors, in our office and sign boards etc.

The biggest reasons why one should sell through Auction Agent rather than a real estate agent or other auctioneers is due to its speed, certainty and lack of barrier to entry. It is generally stipulated in the sales contract that all transfers and exchange of contracts should be completed within 28 days of the auction. This is significantly faster when compared to a real estate agency, where it may potentially take months to complete.

Certainty is also a huge factor because, as soon as the auction ends, the highest bidder is contractually obliged to buy the property, subject to the reserve amount. No time is therefore wasted going back and forth between the two parties. Finally, we do not require any upfront fees to start marketing your property. You, therefore, do not need to worry about wasting any money if we do not help you sell!

Yes, it is possible to sell a tenanted property.

Yes, you will need a solicitor to prepare legal packs of the property and will require one to conduct conveyance upon confirmation of sale. It is always advisable to appoint a solicitor with auction experience as special expertise would be required.

Yes, we most certainly can. Someone looking for a quick sale should always go through auctions instead of real estate agents.

No, this will generally work against you as fresh new property listings in the market would have a much better response from the public than one that has been marketed previously. This is due to potential damages done through incorrect pricing and the length of being on the market. You should always go straight for an auction sale if you have the intention to do so from the start.

Properties in auctions generally sell for higher than their guide price, however this is not a guarantee. The selling price is typically based on the amount of interest, initial guide price set and the amount of hype we bring through marketing and the auctioneer.

Contracts are legally binding upon the fall of the gavel. Buyers cannot change their mind without suffering heavy financial penalties.

No, it is not possible as the sale contract is already fixed, confirmed and exchanged at the end of the auction.

No, this is not the case. Properties that are marketed and priced right may potentially sell higher than they would through a real estate agent. Please contact a member of our staff to discuss this further.

Our team are on hand to answer questions and you can call us on 01706 940499.

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