Seeking advice |
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It all starts with a phone call to Auction House. We will ask you about your property, your situation and your requirements. An Auctioneer or an Auction House Valuer will visit and advise you on the best method of sale, and if it is 'Sale by Auction,' we will give Guide Price recommendations, talk you through the process and help you decide on the appropriate way forward. |
Instruction to sell |
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We will confirm our terms of appointment, get in contact with your solicitor, gather together the necessary paperwork, liaise with others to get Searches, Planning Permissions, Specialist Reports, Tenancy Agreements, Architectural Plans and get Special Conditions of Sale prepared for your property. |
Property details approved |
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We will submit to you the property details and marketing material we have prepared for you to approve; convert them into a format suitable for viewing on our website, press advertising, launch brochure and catalogue. We will also send copies to your solicitors for them to vet. Amendments will be discussed, included and support papers agreed. |
Effective marketing campaign |
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All Auction lots are advertised exclusively in the Evening News and Eastern Daily Press. We also promote every Auction nationally in the Estates Gazette and Property Week and, where appropriate, in local weekly newspapers. We add to this – multi office marketing through our many Residential offices, extensive website promotion, and mailings to over 3,000 active auction buyers. |
Viewings and open days |
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We organise special Open Days at all properties that require access and have an experienced, well briefed member of the Auction House team present to provide guidance and ascertain interest from the many viewers. Open Days are well advertised, highly effective and much valued by prospective Auction buyers. |
Catalogue distributed |
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Your property will be allocated a running order Lot number and after approval, will be added to our Auction Catalogue. These are sent first class to over 3,000 mailing list buyers, plus those who have made specific enquiries for Lots in the current Auction. The Catalogue is also uploaded to the web and made accessible through subscription to every interested party. Special Conditions, Ancillary Documents and Plans are made available through our website and from our Auctions Office. |
Reserves set |
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We gauge interest and likely bid levels at Open Days and by discussion with prospective buyers. We may have also received pre-auction offers and take these into account. Occasionally a pre-auction offer may be so attractive and unlikely to be surpassed in the Auction Room that we recommend its acceptance, conditional upon exchange at least five days prior to Auction Day. We agree a Reserve Price with every seller approximately 48 hours prior to the Auction and this remains confidential between you and TOPS Auction House. |
Auction day |
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Time is allocated prior to the start of the Auction for prospective buyers to ask any last minute questions. We circulate final amendments to Catalogue details to those attending. Each Lot is described prior to being offered, and hopefully after competitive bidding will be sold on the fall of the hammer, with contracts being effectively exchanged at that point. Sale documentation is signed in the Room and a 10% deposit paid. |
Completion |
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Your Solicitors will handle the process from then onwards. We will supply them with a Notification of Sale and hand over deposit monies after deducting sale costs. You will need to provide vacant possession on completion, unless the property has been sold tenanted; make arrangements for key release and cancel your service supplies, insurance etc. |
Can TOPS help you further? |
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A successful sale at Auction may prompt you to consider other disposals, or you may wish to seek valuation advice on other property assets that you have. On the other hand you may wish to use the sale proceeds to purchase another property - our Residential sales teams will be pleased to assist you with this. If you have been pleased with the service and the result, you will hopefully be recommending it to others and help us promote the benefits of the 'Sale by Auction' alternative. |