We are pioneering an online property auction facility, which charges a buyer's premium rather than a seller's fee, to offer a new alternative to traditional or online estate agents which can lead to a sale time of just 60 days. There are many reasons why choosing sale by online auction could be right for your property.
Online Auction is a quick and easy process. The auction runs over a fixed time period, typically 21 days including time for marketing and Open House viewings, and the highest bidder when the virtual hammer falls acquires an option to buy, which provides them 28 days to exchange contracts and then completion 28 days after that (unless agreed otherwise).
Online auctions are ideal for the sale of residential properties of conventional construction and therefore eligible for a mortgage, such as houses, flats and bungalows.
When the auction ends, the buyer pays a reservation deposit to Auction House. Should they fail to exchange contracts within the 28 days (subject to passing a mortgage valuation survey), they will forfeit their deposit, and the funds will transfer to you minus any fees.
Your property will be advertised online on property websites, including the Auction House site, and portals such as Rightmove and Zoopla. In addition, it will be promoted to our targeted database of interested buyers based locally, regionally and nationally.
To allow prospective buyers to view your property, we organise a series of Open House events, allowing people to look around the property and have any questions answered by a member of our auctions team.
By running the Open House events, it allows us to generate interest in your property and create a competitive environment between prospective buyers. This will help to achieve the very best price for your property.