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
The benefit to you
The key reasons to sell at auction
Vendors pay no estate agency commission and keep the full selling price*
Buyer paid Reservation Fee secures the sale and allows all parties to move forward with confidence.
Greater exposure and increased interest result in competitive bidding between prospective buyers, which drives up the selling price.
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.
A STEP BY STEP GUIDE
How it works
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).
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.
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.
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