Buying property at auction is no longer just for the experienced investor looking for their next renovation project. It is now becoming a preferred route for those looking for their ideal property due to the accessibility and benefits that the process offers, namely the speed and security.
Below are just some of the advantages of using our auction services
Modern Method of Auction
56-day Completion Timescales
Fixed timescales are agreed at the start to ensure the process runs as smoothly and as quickly as possible. The average completion rate for this auction method is 44 days, compared to 126 days for Private Treaty.
Security
At the end of the auction, the seller and buyer enter into a reservation agreement which commits them to completing the transaction. This greatly reduces the risks to both parties of a sale not proceeding to completion.
You can buy with a mortgage
Due to the 56-day completion timescale with the modern method of auction, it is accessible to buyers who need the time to organise their finances and arrange a mortgage on the property they wish to buy.
Buyers Information Pack
Before bidding on a property you need to do your research and to help you, we provide a Buyers Information Pack with each property.
This is a collection of documents to help you make an informed decision before proceeding. The documents may not tell you all you need to know about the property, so it’s vital that you review the documents carefully and seek guidance on anything you are not sure about before placing a bid.
Bid Online 24/7
Our unique online platform allows you to bid remotely on a property of interest 24/7 and we don't just hold public events, we run online auctions alongside these. You can also head in-branch or bid by phone - whatever is best for you and to avoid you missing out on the property you want!
Traditional Auction
28-day Completion Timescales
If you are the winning buyer, exchange of contracts takes place as soon as the auction ends, and you will then have 28 days in which to complete the transaction. It’s important that with this method of auction your purchase funds are readily available to pay the deposit, fees and purchase price.
Complete Security
Exchange of contracts takes place straight away and completion takes place 28 days thereafter.
Buyers Information Pack
Before bidding on a property you need to do your research and to help you, we provide a Buyers Information Pack with each property. This is a collection of documents to help you make an informed decision before proceeding.
The documents may not tell you all you need to know about the property, so it’s vital that you review the documents carefully and seek guidance on anything you are not sure about before placing a bid.
Live Auction Event
Our live auctions take place nationwide allowing you to come along and bid in person, or, if you cannot attend, you can bid by telephone or form proxy.
Need more help?
We strive to offer a transparent service to our sellers and buyers to ensure they are provided with enough information to make an informed choice before proceeding.
The sidebar of this page provides useful information to help you decide if auction is right for you and, if you have further questions our Auction Specialists can talk you through the process and answer any questions you might have, so give us a call on 0345 646 0302.
*Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is powered by IAM Sold.
