COULD YOU ACHIEVE MORE AT AUCTION?

Selling at auction could be the best way to maximise your chances of getting the best possible price for your property. Are you ready to achieve more for your home?

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Benefits of auction

Going down the auction route to sell your home has many benefits not offered by traditional estate agents?
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FREE AUCTION VALUATION

Our valuation tool gives you an idea of what you could achieve at auction. It’s more than you think.
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auction success stories

Let our auction sellers share their success stories and tell you why you should consider selling at auction.
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Next Property Auction

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Wednesday 10th December 2018

Our Blueprint for Success

Over 20 years we’ve developed and refined our Blueprint for Success. This proven auction method means we can continually achieve the best results for our sellers. But don’t take our word for it. See our success stories below and the reasons our sellers would recommend selling with us.

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The Benefits of Selling Under the Hammer

There’s no better way to sell your property than under the gavel. With over 30 years experience selling at auction don’t miss out on the many benefits of using us.

Receive Offers fast

We often receive offers from interested buyers prior to the Auction, meaning you may sell your property quicker than you thought!
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all property types welcome

With a room full of investors, landlords and house-movers, we are able to successfully sell properties of all types regardless of their condition.
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SECURITY

Take control of your property’s value by setting a reserve price at the minimum you are prepared to accept before the auction takes place.

Certainty & Efficiency

From the moment the gavel goes down the sale exchanges – meaning your buyer is contractually obliged to purchase your property.
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speed

Lots sold at Auction take just 28 days to complete, meaning you receive your cash faster. This also applies to properties sold subject to pre or post auction offers.
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A personal service

We pride ourselves on the exceptional levels of customer service we provide to our auction clients and have dozens of testimonials from delighted vendors and buyers to show it.

Frequently asked questions

What you need to know about selling at auction

How much does it cost to sell at auction?

Auction is a slightly more expensive way to sell than through estate agents. This is because the process is much faster, marketing is more extensive and there are extra costs involved including the auction event itself. Most auctioneers charge an entry fee to cover some of this upfront cost, then sales commission will be charged after the property has sold and exchanged contracts.

Commission levels vary around the country and between auction rooms, also the type of property and its value may also be a factor in determining the commission. Your choice of auction room should be based on their capability and reputation, rather than the fees they quote and it is better to select one that holds auctions in your area as your property will almost always sell for more money locally.

How quickly can my property be sold?

Auction is the quickest way to sell your property. If selling by unconditional auction, you can instruct, exchange and complete in as little as 4 weeks if you need to sell urgently. More often though, properties will be entered into auction 4 – 6 weeks before the auction day, exchange occurring at the sale, and then full legal completion happening 4 weeks later. 

The more marketing time a property has before the auction, the higher chance it will have to sell. However, most auctions teams will accept late entries, sometimes only 2 weeks before the auction day, but you may need to have a keener, more attractive guide price to attract bidding interest.

What is an entry fee?

An entry fee is a charge paid by the seller to the auctions team. This cost is to cover the cost of entering the property into the catalogue, the extensive marketing and promotion during the run up to the auction, right through to the auction day itself. It is usually paid when you instruct the team to sell your property, but on occasions and with prior agreement it may be settled from deposit monies on exchange of contracts.

What is sales comission?

Sales commission is the fee charged by the auctions team for successfully selling the property. It is invoiced after exchange of contracts and usually settled by deduction from the deposit paid by the purchaser. The rate of commission is agreed between the seller and auctions team and shown in the Agency Agreement which sets out the fees and terms of business that apply.

What type of property is suitable for auction?

Many types of property will sell well at a traditional auction, often achieving higher sale prices than through estate agents. If your property matches any of the following descriptions, then the auction will likely be right for you if it doesn’t or is of better quality, it could well be suitable for online auction. 

+ Does it need refurbishment, can it be redeveloped or extended, or is there space for another home to be built? For such properties, there is a multitude of conversion specialists, small builders and clever developers who will compete to buy it.

+ Are there difficulties or issues with the property – is it unmortgageable, is there a short lease, neighbourhood difficulties, does it have an adverse history, or Japanese Knotweed, legal issues or have sales kept failing. Such stock is most regularly sold by auction and often it is better to make auction your first-choice route rather than have it exposed and fail through an estate agent.

+ Is your property tenanted or has it been rented out? If so and this is its likely future use, you will want investors fighting for it.

+ Similarly, if it’s land or mixed-use such as retail with flats above, then the proven route to market is by auction.

+ Maybe it is a vacant or an occupied commercial lot, or a property being sold as an investment? If so, auction becomes the normal choice.

+ If you are in a hurry, need a certain sale, or want to ensure a level playing field and full transparency? Many people do, and they choose auction for one or more of these reasons.

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Can I set the price i'm willing to sell at?

Yes, this is called the reserve price. Your property will be offered subject to this reserve price, and it is kept confidential between the seller and auctions team. It is usually set just prior to the auction and is a figure below which the auctioneer cannot sell the property during the auction. If the property fails to reach its reserve, offers will then be invited from all interested bidders to try and agree a sale after auction at or above your reserve.

Why should I choose to sell at auction?

Reasons to choose auction include the speed and certainty that it offers; there is no faster way to sell and success rates through to completion are far higher than through estate agents. Other attractions are that it delivers a legally binding sale with contracts exchanged on the fall of the hammer, so neither party can pull out of the sale or try to renegotiate the price. The competitive bidding process aims to drive the price up so the property achieves its best possible price on the day too.

Ready to Sell at Auction?

Speak to one of our auction property experts today and discover the amazing benefits you could get through the North West’s No.1 Auctioneers.