As a ‘one stop shop’ for quick house sales, Property Solvers also offer our online property auction service.
We use over 18 years of experiences to offer a new and highly innovative approach to selling your property in the shortest time possible.
Our auctions go live for 21 days across all the major property portals so we can attract the maximum amount of bidders and get you the very best price.
Once the live auction finishes we offer two options in terms of timescales for exchange and completion. We run 2 different types of auction that offer our vendors flexibility on the outcome of the sale:
Sometimes referred to as the modern method of auction, this enables you to get an excellent price and find a much more secure buyer compared to an estate agency sale. With this method the buyer has 28 days to exchange from when the hammer falls and a further 28 days to complete the transaction. The buyer still pays the non-refundable exchange fee once the live auction ends committing them to the sale.
The longer timeframe allows you to get the best price possible through the auction.
The more traditional (and faster) way of selling at auction. With this option, the winning bidder exchanges contract the moment the virtual hammer falls. The buyer pays the non-refundable reservation fee the moment the auction ends as well as formally exchanges on the sale. The buyer then has 28 days to complete the sale.
If the buyer pulls out they lose the non-refundable fee and potentially also lose their 10% exchange deposit.
We’ll get your property sold much faster than traditional auctions for the optimum price.
The team at Property Solvers have many years of experience in valuing properties of all shapes and sizes.
Using house valuation tools available in the public domain, we’ll start by look at sold property comparables in your local area.
We’ll also apply specific methodologies used by the Royal Institute of Chartered Surveyors (RICS) and run off one of our house valuation reports (produced exclusively using HM Land Registry data).
We can turn this around for you immediately if so required and provide you with a ‘desktop’ property valuation for auction alongside a detailed explanation of our findings.
This price will be based on what we feel the property is worth in its current state. This can be either a single figure or price range (i.e. £X to £X). Much will depend on the level of bidding interest during the auction, demand, the state of the market and other dynamics. As professional auctioneers, our aim is to push the price above this level.
This is the minimum figure that you would be willing to sell at. The bidding must reach this figure in order for the property to be reserved (and sold). This figure will be agreed before the auction between us and will be kept confidential. If the bidding does not exceed the reserve the property will be left unsold and you have the option to run it through the next auction for free!
Before deciding on a final valuation for the auction we will visit the property to do a full internal inspection.
This will enable us to confirm our suggested price structures for auction and get you the best outcome!
We’re available to do this 7 days a week at a time convenient for you.
We also sell commercial, mixed-use properties and land through our auctions.
In fact, selling commercial property is arguably performs better at auction compared to using a property agent. This is often because buyers actively check auctions portals such as our own to see what’s available.
Whilst our valuation process is more nuanced than with residential properties, as with any auction sale we undertake, we can get your building or plot listed within very short timeframes and guarantee excellent exposure.
Appreciating the extra complications involved in this type of transaction, we typically extend the time for selling to 6 weeks between exchange and completion.
When getting in touch with us, we would ask that you forward any plans, leases, photos/images, surveys, insurance policies, planning permissions and any other documents that would help assess the property quickly.
Property Solvers takes pride in offering an excellent suite of marketing channels to ensure your property. This includes:
The auction legal pack is a set of documents produced by your conveyancer / conveyancing solicitor. These may include:
Although it’s not compulsory to sell at auction, we usually recommend having these documents prepared to get the best result.
Unlike a normal high street sale with an auction, the buyer is committed when the hammer falls.
They should therefore be fully aware of all legal issues before they bid and financially commit to the sale.
As a seller, you can reassure them by providing a professional and comprehensive legal pack.
It means the buyer will be fully aware of all legal issues before they bid and financially commit to the sale.
We often find that buyers tend to offer lower prices or will not bid if the auction pack isn’t there as they are concerned that there may be something wrong with the property.
Should you be interested, we work with professional in auction specialist lawyers who can offer who can offer you a fast, friendly and cost-effective service.
£447.00 (plus VAT and disbursements)
+ £447 (plus VAT) due on completion*
Price to be confirmed with the conveyancer (will be higher)**
* The above is based on a sales price of under £250,000. The post-auction conveyancing fees will increase to £647 (including VAT) for properties sold at between £250,001 and £500,000 and £847 (including VAT) for properties sold at between £500,001 to £750,000. Fees for properties sold at over £750,001 are available upon request. There is also a supplementary conveyancing fee for leasehold property sales of £250 including VAT (regardless of sold price).
** You may be required to sign a separate agreement to cover the costs should the sale fall through.
Also, note that you will be entitled to keep the legal pack should the sale fall through.
You are then free to use this as you wish, including future transactions (and thereby save money).
See our guide to selling at auction where we explore the aspect of legal packs in more detail.
Property Solvers offer very competitive fees for our auction service:
*We operate on a no sale, no fee basis.