Sellers 10 Steps to Auction Success
Selling a property by auction is easier than many people think, and the prices that we achieve are usually higher than expected too. You can follow our easy ten step guide, take a some time to read our timely tips. If you are considering the possibility of selling by auction then call us on 0345 873 1366 or complete our 'Wanting to sell' or 'Request a Valuation' online enquiry form and we will call you back when convenient.
- It all starts with an email enquiry or 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 inspect your property, then advise you on the best method of sale.
- 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
- 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, an Energy Performance Certificate (EPC), Tenancy Agreements, Architectural Plans and get Special Conditions of Sale prepared for your property.
- We will work with you and your solicitor to help get a legal pack prepared as quickly as possible. We will then make it available online to all interested partied, and hold an 'office copy' for buyers to inspect.
Property Details Approved
- We will submit the property details and marketing material we have prepared for your property for you to approve.
- Once agreed we will convert them into a format suitable for viewing on our website, create press advertising and your catalogue entry.
- Amendments will be discussed as necessary and late revisions notified via an Addendum prior to the auction.
Effective marketing campaign
- All Auction lots are advertised extensively in the local papers where the Auctions take place.
- When appropriate we promote auctions nationally in the Estate Gazette and other specialist publications.
- We also pitch your property to our extensive mailing list of buyers, usinge email newsletters and other electronic marketing.
- Added to this you benefit from multi office marketing through our Residential offices, and when appropriate our Joint Agents, plus extensive website promotion through major portals, auction sites and our own www.auctionhouse.uk.net.
Viewings and open days
- 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.
- Your property will be allocated a running order 'Lot number' and, after approval, will be added to our Auction Catalogue. These will be sent to a considerable number of buyers on our mailing list as well as those who have made specific enquiries for 'Lots' in a current Auction.
- The Catalogue is also uploaded to the website in pdf and turning pages format and made accessible through subscription to other interested parties.
- We gauge interest and likely bid levels at Open Days and by discussion with prospective buyers. Pre-auction offers may also be received which are taken into account.
- We agree a Reserve Price with every seller approximately 48 hours prior to the Auction and this remains confidential between you and Auction House.
- 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.
- Time is allocated prior to the start of the Auction for prospective buyers to ask any last minute questions.
- Final amendments to the Catalogue are given out to those attending the auction.
- Each Lot is described prior to being offered, and, hopefully after competitive bidding, 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.
Your Solicitors will handle the process thereafter. 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 Auction House help you further?
- Whether you need help with other disposals, valuation advice on other properties or want to use the sale proceeds to purchase another property please call us - we are here to help you.
- If you have been pleased with our service and the result of your sale, then please recommend us to others and help us promote the benefits of the 'Sale by Auction' alternative.
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