Modern Method of Auction | Sellers Guide
Understand more about selling your property at auction with everything you need to know to get started
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There are a range of sales options available for selling your property, not just Private Treaty. Auction has become a more popular option for sellers needing a faster and more secure sale.
Our most popular auction method, provides speed, security and transparency, whilst the fixed 56-day timescales open interest up to mortgage and cash buyers.
Why Sell at Auction?
Faster Sales Process
Complete in just 56 days from receipt of draft contracts. Giving you confidence to plan your move.
Additional Security
The buyer pays a non-refundable Reservation Fee at the point the sale is agreed, commiting them to the purchase. This is typically 4.5%, with a minimum of £6,600 inc. VAT.
Secure Your Minimum Sales Price with a Reserve
Your sale is secured with a pre-agreed Reserve Price, meaning you’ll not sell for less than that.
No Sale, No Agency Fee
Nothing to pay if your property doesn’t sell. You only pay an Auction Pack Fee on completion.
Drive up your final price with competitive bidding
Transparent bidding promotes competition, helping you get the best possible price.
Larger pool of buyers than Traditional Auction
With fixed 56-day completion timescales, buyers have time to arrange finance, so, you’ll open your property up to mortgage and cash buyers.
Providing the Information Buyers Need
All auction properties will need an Auction Pack. They contain information a buyer needs to make an informed decision on your property before placing a bid.
This includes: Title documents or Epitome of title, Property Information Form, Local Authority Search, Water and Drainage Search, Reservation Agreement, General Terms and Conditions, Fixtures and Fittings forms and Any special conditions of sale.
You can provide the Auction Pack yourself, or use our specialist Auction Conveyancing Service, Medway Law.
Getting Your Auction Conveyancing Instructed Upfront
With auction, it is highly advisable to instruct your Solicitor upfront to ensure a smooth process and to ensure that you can meet the quicker completion timescales. Speak to us about Conveyancing Services.
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