Immediate exchange of contracts
All contracts are prepared prior to the auction date and missives are concluded at the fall of the hammer. With a sale by open market there is no guarantee that the sale will complete. Sales can also be secured under auction terms Pre and Post Auction, based on the unconditional auction contract.
We secure a 10% non-refundable deposit from the successful bidder at the auction. The purchaser is unable to withdraw from the purchase without penalty of losing this deposit giving you security. The 90% balance is transferred between your solicitors at the completion date.
In some cases an auction price can exceed the price of a negotiated sale. It is important to set the guide at a realistic price which is attractive to buyers. This will generate competitive bidding in the auction room, and ensure that the best price is achieved.
Quick disposal reduces long-term carrying costs, including taxes & maintenance. Standard completion of the sale is within 28 days of the auction day as per the general conditions of auction. An auction sale offers the avoidance of delays due to extended negotiations over purchase terms.
Transparent & Open Sale
Property auctions are popular with vendors where an open & transparent method of sale is desired. Bidding is conducted in a public Auction room. You can see who is bidding and how much they pay.
Auctions spend heavily on marketing, we maintain an extensive buyer base & provide unique high visibility signage. This ensures an aggressive marketing program that increases interest and visibility of your property.
Encourage Buyer Decision
Auctions are a great tool for bringing a buyer to a point of decision. There is a fixed auction date and buyers are unable to postpone making a decision to purchase.
FREE Auction Valuation & Fee Quote
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