There are two components needed to maximize the chances of a sale through our services. Firstly, motivated and realistic sellers and secondly, great marketing exposure to ensure optimum awareness to all potential buyers.
If you decide to explore the bidding route further please contact us and we will discuss with you the best pricing strategy to maximize interest in your property and achieve the best possible price.
Most of the properties auctioned on our site are "live" for a minimum of 30 days and at any point during this time buyers can place a bid on a property. You can tell how much time is remaining on a specific auction by looking on the search section or clicking in to the property details where the time remaining will be clearly displayed.
If you opt not to pay your agent a fee we charge the buyer a reservation fee. It is calculated against the final selling price of the property once an auction is completed and the reserve is met or exceeded.
The reservation fee acts as a deposit until exchange of contract takes place.
Selling at auction always means that you will get the true value of your property. The buyer may be paying your fees but that does NOT mean you will get less for your property and you will also be saving a sales fee.
Only if it equals or exceeds your reserve price. All properties are sold with an "undisclosed" minimum reserve price (agreed with the seller). The only price that the public sees are the starting price and actual bids.The reserve price will always remain confidential. Once the reserve price has been met or exceeded and when the auction is closed the buyer must pay the reservation fee and the sale will proceed. The reservation fees acts as a deposit but is not part payment of the final sale price.
Yes you can. If you want to accept a bid to sell the property before the auction has finished that is fine. By law we are duty bound to put any offer for the property forward to you. It will then be up to you to decide if you want to consider the offer and take the property out of the auction. However, in a scenario where this happens the reservation fee is still payable by your buyer and the terms and conditions of the auction still apply.
The successful bidder has 48 hours to pay a reservation fee and sign the reservation form for "live" and "anytime" auctions. It does not bind the buyer to buy the property but instead allows them the right to exclusively exchange contracts on the property at the price agreed within 28 days of the bid being accepted.
With "auction room" lots the bid is binding and once the auction ends and assuming the property has met or exceeded the reserve it is deemed that exchange of contract has taken place. A reservation fee and signed reservation form is still required.
A buyer who pays the reservation fee is almost certain to know that they have the ability to proceed and is unlikely to pull out of the purchase.
We use the auction to give predictable timescales. With "live" and "anytime" auctions it is known once a successful auction closes the bidder has 28 days to exchange contracts and a further 28 days to complete the transaction. This additional time over "auction room" listings gives more time and of greater appeal to allow purchasers extra time to sort finance or a mortgage and to arrange your move.
By agreement with the seller a reserve price is set which can only be reduced with the seller's agreement. A starting bid price is set with the seller's agreement at a level to generate interest and to initiate bidding.