Seldons can also offer properties for sale by Auction. In certain circumstances, which we will discuss with you during our Market Appraisal, this may be the most appropriate method of Sale.
Suitable auction properties include:
· Unique properties that will create significant market interest e.g. waterfront or rarely available
· Properties for renovation, restoration, refurbishment
· Farms and smallholdings
· Parcels of land and woodlands
· Development sites
· Investment properties
· Properties where a sale is required in a defined timescale
Selling by Auction
An auction sale takes place over a defined period set by the vendor, in conjunction with the agent, with exchange of contracts at the fall of the hammer and completion approximately four weeks after that.
The property will receive intense marketing and advertising six weeks prior to the sale in local newspapers, on our website and property portals, including Rightmove and Zoopla.
The guide price is a realistic price to generate as much pre-auction interest as possible with the objective of generating higher sale values.
Properties are normally offered for sale subject to a vendor’s reserve.
A ‘legal pack’ containing relevant legal information about the property will need to be prepared (at the vendors cost) prior to auction. This will be distributed to interested parties on request. Seldons Solicitors can prepare this if required.
Auctions are conducted within the public domain, are impartial and the best evidence of “market value”.
Buying by Auction
If you wish to buy at auction you will need to have satisfied yourself in respect of all legal and professional matters which may affect the property.
Legal packs will be available on request from the agent, but may be subject to a charge.
You will be required to produce two forms of identification, photographic (e.g. driving licence) and proof of address (e.g. recent utility bill).
If your bid is successful, you will be required to pay 10% deposit, sign and exchange contracts prior to leaving the auction.