Auction Properties

A Speedy sale

The Modern Method of Auction takes just 56-days from receipt of draft contracts. Alternatively, you can opt for Traditional Auction whereby your sale will be finalised in just 28 days.

Secure Transactions

Once the sale is agreed, the buyer pays a Reservation Fee. This gives the seller peace of mind that their buyer is committed to the purchase and means there's no renegotiating once the sale is agreed.

Competitive Offers

The transparency of our Auctions partners means buyers can easily see each other’s bids, encouraging interested parties to bid more competitively to win the property — boosting your final selling price!

Low Selling Fees

With auction, selling fees are typically paid by the buyer. This makes it a lower-cost alternative to Private Treaty (or 'open market') transactions where, as the seller, you will pay all the selling fees.

What’s the difference between Private Treaty (or the open market) and auction?

A Private Treaty sale is the legal name for an open market sale usually negotiated via an Estate Agent between buyer and seller. Once a price is agreed, Solicitors are instructed, and all parties work the sale through to exchange and completion. There are no Reservation Fees or timescales on a Private Treaty sale, but this can cause completions in excess of 100 days with around 30% of sales falling through.

All auction sales have an end date and once the auction closes and an acceptable bid is agreed, a Reservation Fee is typically paid by the buyer to secure the property or the property exchanges which reduces the fall-through rate to around 5%. This gives buyers and sellers speed and security with fixed completion timescales; typically 28 days for Traditional Auction and 56 days for Modern Method of Auction from receipt of draft contract.

Will selling at auction mean I get less for my property than I could with a Private Treaty sale?

An attractive Starting Bid increases interest and encourages competitive bidding between prospective buyers, which can help to drive up the final Selling Price of your property. Auction is for those sellers who are looking for the additional benefits of speed and security so pricing strategies are designed to help your property sell quickly. However, you always have control with your undisclosed Reserve Price (the minimum amount you are prepared to sell for) which means if no bids meet this, your property does not sell.

Speed

In comparison to Private Treaty, which can take over 100 days* to complete, the Modern Method of Auction offers a completion timescale of 56 days from receipt of draft contracts.

Security

With both parties committed to the sale, you can rest assured that the transaction is secure with only 5% chance of a fall-through, vs. 30% with Private Treaty.

Transparency

Unlike Private Treaty sales, within auction transactions all parties can see every offer being made, for complete fairness and a transparent process.

Legal Fees

We can help with Legal Fees as we use the best Solicitors, local to you who will provide the best service with a competitive fee structure.