A tried and trusted ‘modern’ method for a quick sale on your property
Modern method of auction opens your door to a quick (potentially cash) sale. Your property doesn’t need to be rundown or be unmortgageable for you to qualify. Although these buildings are suitable for auction, family homes and tenant in situ investments are also perfect candidates.
If you have land or property that you want to sell fast, then listing at auction is the perfect alternative to the open market. Better yet, now that all our auctions are online, you're no longer limited to local interest. Our online service means that you are exposed to buyers from across the nation.
Step one- Free Auction Valuation
Our process starts with a free auction appraisal of your land or property. There is no pressure or hard sell. We will simply visit the property or provide you with a desktop assessment. If you’re interested in proceeding, then we move on to the second step or send one of our valuers to the property to give a more accurate figure.
If you decide to sell through us, then there are no costs or fees. Our fees are taken from the buyer in the form of an upfront reservation. This means that modern method of auction poses no risk to you and allows you to have a stress-free quick sale.
Book your free auction valuation by clicking here. Fill out the form with the relevant details and a member of our friendly team will be in touch.
Step two- Setting the price
When it comes to pricing your property, you’re in control. We will work with you to set a reserve price for the listing.
A reserve price is the minimum that you are prepared to sell for. This gives you a safety net that means your property won’t sell for less than you decide. Although you make the final decision, we recommend being realistic with your expectations.
If you overprice and go above our auction suggested price, the demand for your property may be impacted. This would defeat the objective of a quick, hassle-free process that leaves you walking away with the full payment within 56 days.
Step three- Instruct Solicitors
Legal paperwork must be drawn up before the day of the auction. This information will be made available online to prospective buyers. You can appoint your own solicitor, or you can select one of our experienced partners who are familiar with our auction protocols.
Legal paperwork is drawn up before the auction so that bidders can carry out their due diligence in advance. This streamlined process is part of what makes selling at auction so quick. Legal packs will include information such as ownership documents, planning permission, tenancy agreements, leases and protocol forms etc.
Step four- Pre-Auction Marketing
Our goal is to generate maximum interest in your land or property. The higher the number of prospective buyers we have bidding against each other, the greater the likelihood of the price of your property rising.
To do this, we advertise on all major property sales portals. These include Rightmove, Zoopla, On the Market, Prime Location and our own auction website. In addition to this, as one of the leading independent auction houses, we have built up a significant database of buy to let investors, developers, and cash buyers.
Step five- Viewings & Open Days
These usually take place between 1-2 weeks before the auction. We conduct pre-booked open day accompanied viewings where our team members promote your property to multiple viewers. This helps to generate interest and gives prospective buyers a feel for your property before they register to bid on the day.
The feedback we receive from the viewers is then relayed to you to provide an update and keep you fully informed.
Step six- Auction Day
As a seller, you are welcome to watch the auction remotely by visiting our website.
Our events are now held live online. So, rather than interested parties coming to the auction house to bid, they pre-register through our website. Before doing this, they must complete our online auction bidding form together with providing identification checks in line with our stringent AML checks. Prior to authorisation to bid online on your property, all bidders are required to pay a reservation fee for every Lot they wish to bid on. This shows that everyone bidding on your property is a serious buyer. They have put money on the line, so you know that they are dedicated to the purchase of your property.
One of the main benefits of our online auction is that bidders no longer have to travel or go through the intimidation that an auction room can bring. This results in higher interest levels for listings from local, regional, national and international buyers alike.
Each auction Lot is subject to an allocated start and scheduled end time. This is a further benefit to potential bidders as they no longer have to sit through protracted series of prior Auction Lots being offered before they can start bidding on your property.
As our Lots are on a timed basis, our system extends the end of the auction by one minute every time an additional bid is placed. So long as there is a bid in the last scheduled minute, the timer continues to extend by one minute until all parties stop bidding. Bid extension is similar to a virtual version of a live auctioneer raising the hammer and inviting final bids before closing the Lot on the fall of the hammer.
So long as your listing achieves the reserve price or higher, our team will contact the successful bidder and begin the next steps. We will then work with you until the sale is complete. It doesn’t matter if you’re an experienced seller or a first-timer, we’re here to support you through every step of the auction process.
56 days to freedom
With MMoA, selling your property has never been easier. It has also never been more risk-free. We charge no upfront fees to list with us and only take payment after the property has been sold. When selling with us, you’re not tied into a lengthy contract while your property grows stagnant on the open market.
Due to our large list of cash buyers, unmortgageable or dated properties are a good fit for the online auctions. However, even if your property is in pristine condition, it will still benefit from our 56-day sales process. From family homes to buildings in need of development, all properties have a place at our online auction.
Click here to contact us today and book your free auction valuation. There is no obligation to proceed. We will provide you with a detailed auction appraisal for your property alongside further information on how the modern method of auction helps you. If you wish to proceed, then we’ll move on to the steps outlined in this guide.
Due to the effectiveness of our process, we’re experiencing high interest. Book your valuation today to ensure that you can list your property at our next available auction event.
