Auctions

Buying at auction

Benefits

• Quick and guaranteed timeframe
• No ‘gazumping’ once that hammer goes down
• Get yourself a bargain – easier said than done!

Risks

• Buyer beware!
• Last-minute guide price changes and the addendumissued on the day could change everything
• Too many catalogues & too little time make finding the right deal difficult
• Abortive costs don’t just mean legal expenses, but also your time!
• Over-paying

Our service

• Identify suitable properties, do the due diligence & liaise with the auctioneers
• Agree on the best bidding strategy
• Arrange Finance for the purchase (ideally before but also possible after auction)
• Liaise with solicitors (whom we can recommend)
• If things change last-minute (they often do) or the price exceeds your limit, we will advise what to do
• Only if successful will we charge you a pre-agreed acquisition fee i.e. no abortive acquisition fees
• Management & Insurance of your new property if required

Selling at auction

Benefits

• Quick & guaranteed timeframe
• Flexibility to adjust your reserve price or sell pre- or post-auction
• Wide-marketing & definitive sale date could provoke strong bidding

Risks

• Abortive costs including catalogue fees
• Selling short with too low a reserve or scaring off buyers with one that’s too high
• Tarnishing your property in the event of a non-sale
• Sale fees are often higher than private sale fees

Our service

• Review all options available to you – private, auction or otherwise. If auction is best, then:
• Decide which auctioneer to use
• Agree the reserve price
• Assist with marketing the property to our database
• Negotiate with pre- or post-auction bidders
• Advise if any last minute reserve price changes are necessary
• Only if successful will we charge you a pre-agreed disposal fee i.e. no abortive disposal fees