The Procedure for Auction
1) Choose your sales method, Traditional Auction or the Modern Method
If you choose the modern method you can opt to pay the sales fee instead of the fee being charged to the buyer. Normally though the buyer will pay the sales fee, we will take a non-refundable deposit from the buyer to secure the sale, the Reservation Fee, and which is in addition to the purchase price. This covers the costs of the auction and as this is paid on a non-refundable basis, you know the buyer is serious and in a proceedable position.
2) The Auction & Sale Progression.
Once you have selected your auction and payment type, you will be assigned a personal Auction Coordinator who will keep you updated with viewing feedback and bids. Your Auction Coordinator will become your point of contact; they will provide weekly activity updates and guide you through the process. Upon successful conclusion of the auction, our expert Sales Progression team will manage the sale through to completion.
3) Auction Packs
If you decide to sell your property via auction, you will need an Auction Pack for your property. These packs contain important information about your property that a potential purchaser needs when deciding whether to bid. These packs include the following things:
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Local Authority Search |
Property Information Questionnaire |
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Water & Drainage Search |
Reservation Form or Contract |
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Title Plan Register or Epitome of Title |
General Terms & Conditions |
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Fixture & Fittings Form |
Any Special Conditions of Sale |
Our legal partners Medway Law can provide a pack for you at no additional cost. If you choose to instruct us on the sale of your property we will discuss all the options and costs with you. For further information, you can visit www.medway-law.co.uk. Should the wish to provide your own Auction Pack we will need a copy before we are able to successfully sell your property.
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