Selling land or property is one of life’s most stressful experiences. The average open market property sale takes 12 weeks to complete and has a 1/3 chance of falling through. If this does happen, then both time and money are wasted before another buyer must be found and the 12-week process starts again. These stats are even higher for land sales.
This is why auctions are becoming increasingly popular. They’re a straightforward reliable solution that allows you to sell your property within an average of 2-6 weeks. On the fall of the virtual hammer, the buyer pays a non-refundable 10% deposit. Contracts exchange immediately and completion takes place within 7-28 days (or extended to suit your needs).
Our auction process has been made even easier now that it has moved online and been made available to national audiences. This has allowed us to increase the number of bidders who can register for each auction and results in higher interest on properties.
Our quick and easy online auctions allow you to sell your land or property hassle-free so that you can focus on other elements of your life. Below is our quick, step by step guide that explains how.
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.
You can book this free auction valuation by clicking here and registering your interest.
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 7-28 days.
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 is 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.
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.
These usually take place between 1-2 weeks before the auction. We conduct pre-booked open day accompanied viewings where multiple people view your property. These open days are held before the auction and allow interested parties to get a feel for the property before they place their 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.
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 10% deposit per Lot.
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.
The property is sold upon the fall of the virtual hammer, subject to it achieving the reserve price or above. At this stage one of our auction team members would contact the successful bidder and complete post-auction sale documentation. These documents are issued to both seller and buyer solicitors, who then deal with completion matters on behalf of their clients.
Walk away from stress today
We have tried to make our process as risk-free as possible for all sellers. We understand the worry that comes with selling through an estate agent. You don’t want to be locked into a contract while your property is stuck on the market for months on end. This is why we take no upfront fees and do not charge if the listing doesn’t sell.
Your property doesn’t have to be run-down. It can be a functional family home or already housing a tenant (indeed, often a benefit to a Buy To Let Investor). If you want a quick, secure (and most likely cash) sale, then it’s the option for you.
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 auctions can help 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, Contact us.