Have you ever considered an auction?

It might not immediately spring to mind but... Our modern auction provides you with the flexibility to complete your sale within 56 days and with very little cost to you

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The benefit to you

The key reasons to sell at auction

0% COMMISSION

Vendors pay no estate agency commission and keep the full selling price*

SECURITY

Buyer paid Reservation Fee secures the sale and allows all parties to move forward with confidence.

MAXIMISE INTEREST

Greater exposure and increased interest result in competitive bidding between prospective buyers, which drives up the selling price.

SPEED

Fixed but realistic time frames allow for greater interest from a wider variety of buyers. Exchange and completion within a swift 56 days.

* Marketing fees apply (Maximum £258.00). † QuickMove Now 2018, quarter 1. ‡ Average IAM Sold fall-through rate in the last 12 months. § IAM Sold Transaction Report 2017.

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A STEP BY STEP GUIDE

How it works

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Let's start at home

We'll discuss and agree an undisclosed Reserve Price (the price your property will not sell for any less than) and a Starting Bid (the price at which the property is marketed to generate interest).

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Preparation

Your estates agent will prepare all property detail, take photographs and arrange for the EPC if required.

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The Auction Pack

The team will begin preparing the brochure and Auction Pack including all legal documentation. The cost for the pack is only payable by you IF your sale completes.

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Pre-Auction Marketing

We begin to advertise your property whilst the Auction Pack is being prepared, to generate as much exposure, interest and viewings as possible.

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Ready, set go!

After 14-21 days, an end date and tie is set on your bespoke auction and your property goes 'live', meaning bids can be made via the online auction.

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Bidding

All prospective bidders must download the Auction Pack and accept the terms before bidding. Bids can be viewed and made in real-time, 24/7

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Once the auction ends

Modern Method - The successful buyer is required to pay a Buyer's Reservation Fee and sign a Reservation Agreement. The property is then reserved to the buyer. The buyer and seller are then required to unconditionally exchange contracts and complete the transaction within 56 days.

Traditional Method - Contracts are exchanged immediately, with completion taking place within the next 28 days. Complete security is provided but this method is more suited to property professionals as it is legally binding.

AND NO ESTATE AGENCY COMMISSION

Our expert Sales Progression team will help you take the sale through to completion, keeping you updated every step of the way.

There are two Auction Pack fee options to choose from:

OPTION 1: £395 including VAT

If or when you choose to use our conveyancing panel for the sale of your property. The fee only becomes payable upon the auction being successfully concluded. If the property does not sell, the fee will not be payable at all.

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OPTION 2: £445 including VAT

If or when you choose to source your own conveyancing provider. The fee only becomes payable upon the auction being successfully concluded. If the property does not sell, the fee will not be payable at all.

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CONTRACT TERMS IN BRIEF

  • 14-day cooling-off period (if we have started the Auction Pack production, there may be a charge).
  • Contract is 'sole selling' terms.
  • Deadline for completion is set to 56 days, with an aim of exchanging within 28 days.
  • Online auction.
  • 60-day minimum contract.
  • 21 days written notice to withdraw from contract.
  • Liable to pay fees if:
    • You sell privately to an applicant introduced by auction
    • You cancel a sale with a ready, will and able buyer following reservation.

AUCTION PACK & LEGAL INFO

In order for us to sell the property, we require the following legal documents ahead of securing a purchase:

  • Title Register
  • Title Plan
  • Local Search
  • Water & Drainage Search
  • Property Information Form
  • Fixtures and Fittings Form
  • Probate, Epitome of Title, Power of Attorney (if required)
  • Energy Performance Certificate
  • Tenancy Details in situ (if applicable)
  • Coal Mining Search (if applicable)

For a free valuation of your home, please fill in the short form below. Our local property experts, with their in-depth knowledge of your area, work tirelessly to achieve the very best price for your home.

Prefer to talk? Please call us on 020 8290 0455

 

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