1. Keywords: Selling Property at Auction
Selling Property at Auction
Has Good Benefits
Selling property at auction has good benefits and you must not hesitate to sell your property when
you understand that auction do maximises sales value of properties at auction desk. When a hammer
is struck, exchange of contracts begin on the same of auction sale, the seller will receive ten percent
of the deposit immediately and within 28 working days, transaction of the sale is complete.
Selling property at auction cannot be renegotiate and sellers nor the buyers can ever change any
term or condition mentioned in the sale deed. The deposit fund is ten percent and it is credited into
sellers account only after the formal discounting auction house fees. You will find an intense
moments when auction is in progress and usually for a good property you will always find a huge
competition. Since auction involves the process of bidding and the value of the property begins to
increase depending on the demand a particular property develops in the markets. If your property is
at a good place then place it in an able auctioneer, you will find it auctioned at a greater price than
being sold through an estate agent.
Reserve price is a value you do define to get on selling property at auction and if your property does
not get attention at the auction then you will be given advice by auctioneer accordingly, You can
also reconsider the business proposal offers of others and you will be allowed to continue your
contract with the auctioneering.
It may take for auction of your property days or weeks in selling property at auction.
Usually, an unsold property can be sold within a period of 24 hours of the auction ending and delay
in selling of property at auction may not occur. You will be permitted to attend auction and in any
case if your property does not get auctioned on time and also if your quote is not
. You are of course more than welcome to attend the actual live auction, if your property does not
sell prior to the auction date. It is important to remember that the auction house will not submit a
guide price that is unrealistically high, basically because they aim to sell the property fast, usually
within four weeks.
Future Property Auctions
If you want to sell property fast and receive a realistic price for your property, then selling your
property at auction is definitely right for you.
If you decide that you want to proceed with the auction process you will need to register your
property with us in good time – at least 4-6 weeks ahead of the scheduled auction date to ensure
your property receives the maximum exposure. To get started simply request our no obligation,
(--------------)

2. Property appraisal
Our auction partner will perform your property appraisal and advise you whether they think your
property is suitable for sale by auction.
Guide price
After your free property valuation a guide price will be recommended, which will help you to
decide whether auction is the right route for you.
The right move
After agreeing on both a suitable guide price for your property and property sale commission fee,
you will receive an auction agreement which you will sign and return before marketing begins.
Marketing your property
There is a fee to cover the inspection of the property, marketing and property catalogue production
costs. Entry fees normally range from £200—£400 + VAT, depending on the auction house that
will be managing your property.
Property catalogue
The auction property catalogue details all the lots that will be offered in the next sale and includes
colour photographs of each property. The catalogue is distributed to those who request a hard copy

3. as well as being available in an email version online, both with our auction partners and on the UK
Auction List website.
In addition to featuring your property online, the printed property catalogue will be mailed to
several thousand people, targeting individuals who have previously expressed an interest in similar
properties for sale, as well as adjacent occupiers, local agents, local developers, builders, and
property companies.
On the advertising side, your property will be featured in the key property publications, as well as
appearing in local and regional newspapers.
Commission for property selling
Draft sale particulars will be sent to you for approval and/or amendments. At the same time your
solicitors will be instructed to prepare a legal pack containing special conditions of sale, title
documents, leases (where applicable), searches, planning documentation and office copy entries so
that they are ready for dispatch to interested parties.
Property agreement contract - draft
Draft property agreement contract containing sale particulars will be sent to you for approval and/or
amendments. At the same time your solicitors will be instructed to prepare a legal pack with special
conditions of sale, title documents, leases (where applicable), searches, planning documentation and
office copy entries so that they are ready for dispatch to interested parties.
Viewings

4. Where applicable, regular viewings of your property will be carried out at pre-arranged times.
These viewing times will be published in the property catalogue and online.
Legal pack for a property sell
The legal pack for selling your property will need to be made available through your solicitor.
Buyers can receive documents by post if they so request. Some auction houses allow for the legal
packs to be downloaded online.
Property offer management
During the marketing period, all interest and enquiries are logged. Our auction experts will maintain
close contact with potential buyers and liaise with you throughout as well as reporting any offers
made prior to the property auction sale.
Reserve price
Prior to selling your property at auction, a reserve price will be agreed with you. This is the level
below which the auctioneer will not be authorised to sell – basically a reserve price is the lowest
price you are prepared to accept for your property. It is important that the reserve price is set at a
realistically achievable level.
Sell property fast and safe - The Auction Day!
For vendors it is important to note that the fall of the hammer represents an exchange of contracts
and the successful bidder is legally obliged to pay a deposit, usually 10% of the purchase price, and
sign a memorandum of sale before leaving the room. The buyer has purchased your property at the
final bid price. They cannot renegotiate and cannot change any of the terms stipulated. Completion
usually occurs 20 working days after the auction when the balance of the price is payable. The
deposit funds are then paid to you less our auction house fees. The atmosphere of the room can be
extremely exciting and competitive. The prices achieved at auction can often be higher than those
achieved by private treaty, i.e. through an estate agent.
Property at auction, but reserve price not reached?
If your property fails to meet its reserve price at the property auction, someone may still wish to buy
it. You will need to decide whether to accept any subsequent offer and advise the auctioneer

5. accordingly. The property may even be sold in the days or weeks after the sale as the auction house
continues to market the property. It is quite common for an unsold property to sell within 24 hours
of the auction ending as potential buyers may have simply been delayed etc. You are of course more
than welcome to attend the actual live auction, if your property does not sell prior to the auction
date. It is important to remember that the auction house will not submit a guide price that is
unrealistically high, basically because they aim to sell the property fast, usually within four weeks.
Future Property Auctions
If you want to sell property fast and receive a realistic price for your property, then selling your
property at auction is definitely right for you.
If you decide that you want to proceed with the auction process you will need to register your
property with us in good time – at least 4-6 weeks ahead of the scheduled auction date to ensure
your property receives the maximum exposure. To get started simply request our no obligation,