|
Not every Auction Sale is ideal for your particular property and not every Auction will attract, in volume, the type of purchasers who would provide the competitive atmosphere for you to achieve the highest Sale Price on the day. e.g. A predominantly Commercial Auction Sale would not be the ideal place to offer a Residential Investment and vice versa.
Surveyline can assist you in the selection of an Auctioneer suitable for your particular property. We act as Joint Auctioneers for Established Auction Houses and will help you to select the right Auction location and Auction House.
Testimonial: "On the day of the Auction the tension in our House was almost unbearable and when the call came from the Auctioneer and he mentioned the amount it had made it came as a total shock... You played your part in this fantastic outcome pointing me in the right direction... I would like to thank you very much for that." - Mrs AB - Welling Kent
Reserve Price and Guide Price
It is important to understand the difference between Guide Price and the Reserve.
The Guide Price is published in the Auction Catalogue to give prospective buyers an indication of the level at which they should expect to bid for the property. It is not the minimum price or the maximum price they should expect to pay.
The Reserve Price is fixed between yourself and the Auctioneer and is not published in the catalogue. It is not disclosed to any potential Buyer. It is the Price below which you will not sell your property and the Auctioneer will not let the hammer fall unless this price or more is achieved. |
If you offer a Residential Property at Auction after 14th December 2007 you will need a Home Information Pack (HIP)Information on how to obtain one can be found on this site. There are some exceptions including Commercial Properties, Property with a Commercial element, Investment Property which is not vacant, Portfolios of property to be sold as one Lot, unsafe dwellings, and dwellings with land over 5 hectares which is used for agriculture, horticulture or even "horseyculture" etc.
There is no commission payable to the Auctioneer if your property fails to sell but there is an entry fee which is usually £350 - £450 plus VAT. This pays for an advertisement in the Catalogue and a Lot number will be allocated to your Property. The Auctioneer will then publish and circularise the Catalogues, advertise the Auction extensively and conduct viewings for potential purchasers usually in the four weeks prior to the Auction.
Your Solicitors prepare an Auction Contract with replies to preliminary enquiries and Search results together with a Draft Contract and Evidence of Title (your ownership). If a successful Sale results on the day the usual Auctioneer's commission is payable.
Click Here to see Forthcoming Events
Click Here to discuss entering your property
|
