Your Property Sale Appraisal

This is the cornerstone of a successful auction, once we have the property details from you we undertake a thorough appraisal of the property without, in most cases, the need to visit the property on-site.

We advise on the method of sale, guide price, likely reserve price and potential outcome. The auction date is scheduled with the appropriate marketing time built in (1 to 6 weeks) and we then email you everything needed to instruct us to auction the property.

Instruction

Our auction agreement is signed via DocuSign and the Government Anti-Money Laundering ID and proof of address requirements are completed remotely using our contractor, Credas.

You will have your own copy emailed for your records. At this stage, we work with you to pick a conveyancer and then instruct the solicitor to prepare the legal pack required for the property sale.

Take-on

We arrange to visit the property and compile the details needed for the property particulars: photographs, measurements, floor plan, video tour and order the Energy Performance Certificate (EPC) if required. It is at this stage we require a key for viewing access.

You will then be emailed the property advert for approval via DocuSign, this allows us to make the property live and on the market with the ideal marketing time ahead.

On the market

We market the property to our National Bidder Database and via the online property portals: Rightmove, Zoopla, On The Market and Boomin. It is also made live on the auction platform, the EI Group.

We are the only UK auction company to use all four of the major online portals and do everything to make sure the entire potential buying and bidding market has a chance to partake in the auction.

Market feedback reports

Market feedback is the response of the bidding market to the property advert and upcoming auction, we use strict metrics to evaluate this: portal leads, pre-auction bids, bidder registrations, viewings and legal pack downloads.

We schedule weekly emailed Market Feedback Reports and discussions for Thursday or Friday afternoons and the Thursday afternoon before the auction to give precise advice on any marketing changes required.

Legal pack

The legal pack will be delivered to us by email from your conveyancer, we handle this and you do not need to assist apart from answering questions the conveyancer needs for the pack.

The legal pack is made live for bidders to download at least 7-days before the auction and the views and downloads are a key metric in setting the correct final reserve price for the auction. See Legal Pack Explained.

Bidder registration

Bidders are registered against the property during the marketing period and in fact, also once the 2-hour bidding window has opened on the day. They provide proof of ID and address.

In order to bid on the day the final step for bidders is to provide the security deposit (minimum £5,000) so that when they win the bidding their deposit is taken immediately.

Pre-auction bids

Interested and registered bidders will in some cases make pre-auction bids in the lead-up to the auction, these are in writing and if above the reserve price we will discuss these with you.

If accepted the sale terms remain the same, in most cases pre-auction bids are a good sign and tend to indicate that there will be keen interest on the day of the auction, we rarely advise our clients to accept pre-auction bids.

Managed block viewings

These will be planned, booked and advertised on instruction and are generally one to two, 30-minute blocks, interested parties need to book to attend and this forms part of the market feedback.

It is a key part of our process that bidders first register and accept the terms of the auction, view the legal documents and then view the property by means of these blocks thereby giving the market an equal and fair opportunity to view.

The auction

Your property will have its own dedicated 2-hour bidding window closing at one of the following times on the Friday of the auction: 11 AM, 12 PM, 1 PM, 2 PM, 3 PM or 4 PM.

The auction will extend by 30 seconds if a bid is placed within 30 seconds of the planned closing time, ensuring the maximum bidding from the market. You are able to watch the auction live online and do not need to register to do this.

Completion

We will transfer the 10% buyer deposit (after our fees) to your conveyancer for the planned completion (10, 20 or 20 business days after the auction). You need to maintain your insurance to completion.

On the completion day, you will leave the keys in the property (or post them) and we will release our key to the buyer when the conveyancer has confirmed receipt of the balance of the funds.

Our performance review

We work extremely hard to deliver the best result at auction, we ensure that the market has had a chance to engage and pay as much as possible for the property at auction.

At this stage we would appreciate a 5-star review on Trustpilot detailing your experience, this is useful not only for growing our business, but also to assist potential clients with similar requirements to you.