with no estate agency fees to pay* and the deposit paid by the buyer, securing a sale.
The majority of our auction properties are offered for sale via the Modern Method of Auction. This is not to be confused with the Traditional Method, where a legal exchange of contracts is required immediately after the auction ends. Our auction is a more client – friendly process, still based around a fixed timescale but allowing longer periods for exchange and completion to further accommodate the residential buyer and seller.
Modern Method of Auction vs. Traditional Auction
Traditional auctions are a tried and tested method for selling investment stock. The new Modern Method of Auction creates a transparent market place for the motivated residential buyers and sellers combining the best aspects of traditional auction and private treaty sales
Modern Method
- Reservation fee paid within 2 hrs of auction completion (this is a reservation fee and does not form part-payment of the final selling price).
- Up to 28 days for exchange of contracts.
- Up to 28 days for completion of contracts.
- A more client friendly process allowing time for buying with finance and organising a removal van.
Traditional Method
- Buyers deposit 10% of the purchase price paid immediately after auction.
- Immediate exchange of contracts.
- 14-28 days for completion of contracts.
- A process more appropriate for property investors or repossession stock.
*Auction Pack preparation fee applies
