“We would unreservedly recommend Paul and the friendly team at Higgins-Drysdale. After a very difficult and ultimately unsuccessful multi-month struggle to sell our property via private treaty, we turned to Paul to see if he could get us sold via traditional auction. He certainly did, and we haven’t looked back”
Selling A Property At Auction: Speedy, Certain & Profitable
An immediate and unconditional exchange of contracts as sold in an auction room
Our traditional auction sale process is designed to sell investment property in a speedy, certain and profitable fashion. This method of sale is best advised if you own a property that will be of interest to investors, the best advice is to make these investors compete by bidding in a competitive auction with an immediate exchange of contracts when the gavel falls.
An investor is a buyer who is looking to buy a property, overcome a challenge or create an opportunity to then make money from the sale or rental of the property. The most common examples are properties that require modernisation, extension, structural repair and can also include rental property or properties that could rent for a high annual return. Land, garages and properties that are unable to raise finance can also be best advised to go to auction.
At a traditional auction, the price advice is in 3 parts, the guide price, the reserve price and the predicted outcome. The predicted outcome range is the value, the reserve price is generally set in the lower range of this prediction and the guide price can be 10% below this. The guide price is designed to gather the bidding interest and the reserve price is to ensure that transaction occurs on the day.
Auction – The First Steps
Book Your Property Sale Appraisal
It starts with a conversation, we need to know the property details and your personal requirements, we can then undertake detailed and thorough research on the property. In most cases, this can be done remotely as the property is appraised as it would be by the bidding market who in most cases will not attend the property before bidding.
Within 24-hours you will have your detailed and precise Property Sale Appraisal which will give you the best advice regarding the method of sale, price and process to ensure a speedy, certain and profitable sale. You will have all the auction date options and fee information needed to make the best decision possible. There is no charge for this Property Sale Appraisal and no obligation to proceed. Our aim is solely to deliver the best advice each and every time.
In some cases, a sale by traditional auction is either not best advised or not your preferred sale method, our Property Sale Appraisal will lay out the advice and price with regard to the additional sale methods we offer, modern method auction and estate agency. We need one or two 20 to 40-minute conversations, our instruction and sale process can all be done remotely and online.
Understanding The Process Of A Traditional Auction Sale
An auction is designed to let the market decide what it is willing to pay or the property
Our traditional auction sale process uses all the tried and tested methods proven to work by the auction room, with the power of our dedicated 2-hour online bidding window. The process ensures bidders register, provide a security deposit and bid enthusiastically. Now the whole world can bid on the property rather than simply only professionals willing to travel to an auction room in person.
We pride ourselves on the speed at which our process operates as well as the client experience that is the best on the market. As there is now no need to have collectives of auction lots, your property will simply need the best-advised marketing time leading up to the auction day. This can be as short as 2-weeks for a freehold property and up to 6-weeks for a leasehold property that requires more work specifically with the legal pack.
Our dedicated 2-hour bidding window allows us to closely manage the auction of your property, allowing new bidders to register and engage within the bidding window and ensuring all parties get to bid, this increase in competition makes a profitable outcome much more likely. We manage the entire process including the legal pack, managed block viewings and key handover for completion.
