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Auction

 

Iam-sold is a white label auction provider to partner agents in this instance next2buy, we would work together to fully expose your property via auction with a view to sell as quickly as possible. We offer a unique approach to auction with numerous benefits to the seller:

 

• 0% commission payable
• NIL entry fee
• A fixed date to sell
• Greater levels of interest/viewings
• Guaranteed to achieve current market value
• Bids taken online 24/7

 

General Process:

We will offer recommendations for a Starting Bid, this is merely a figure to attract interest and encourage as many viewings as possible. We also offer recommendations of a Reserve Price, this being the minimum you will allow the property to be sold for (in a worst case scenario). We are not suggesting this is what the property is worth, we are only suggesting that by offering with a lower/attractive starting bid, we can “widen the net” & attract more interest and allow buyers to bid up to what they feel the property is worth to them (ideally of the minimum reserve and above).

 

We can only sell the property should bids reach the minimum reserve or above. The main benefit is regardless of what the property sells for, the seller will benefit from the full price achieved as there are no sales fees for the seller to pay from the auction team or the appointed estate agent, we charge the buyer a fee of 3.5% plus VAT subject to a minimum of £5,000 plus VAT. The buyers pays this fee upon acceptance of a bid on a non-refundable basis to effectively reserve the property and prevent other parties viewing and bidding.

 

The buyer will be granted 28 days to exchange contracts followed by a maxim further 28 days to complete the transaction, thus giving the seller fixed timescales to work around. The only cost the seller will encounter is for the preparation of the auction pack (title info, relevant searches) of £199.00 plus VAT, this is split into two payments £120 is payable once the pack is completed and the second £120 is payable once the sale has completed.

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