Auctions

Selling by auction is becoming an increasingly popular way to obtain the best possible price for a property which due to its type, individuality or condition would be difficult even for an experienced valuer to accurately assess its open-market value.

Properties that are unusual, located in highly sought after locations, in need of repair and modernisation, building land and those with potential for conversion or redevelopment are ideal for sale by auction.

At an auction there are usually several interested purchasers for each property and upon the fall of the hammer the property is sold and contracts are deemed to have been exchanged. A 10% deposit is paid by the successful bidder at the auction and completion takes place within 28 days.

A sale by auction avoids the uncertainties and delays that often occur in a typical sale by private treaty and the competitive bidding process ensures that true market value is obtained for each property.

For further information or to discuss your individual requirements contact our either Richard Jones on 0115 911 5454 or Gary Speed on 0115 953 6644.