0121 550 4151When thinking of selling your property there are many options available out there, but not many methods offer the flexibility and speed of the Modern Method Online Auction.
Choose to pay 0% commission on your sale
You can pay no fees whatsoever to sell your property so when your property sells you will keep the full amount.
A fixed date to move and sell
Upon the close of the auction the buyer will be tied into a fixed timescale for exchange and completion. This provides complete clarity for both parties. A fixed timescale is not often set when selling a property through the normal Estate Agency route with many sales taking far longer than expected. This added security is a big benefit to any vendor looking to move forward with confidence.
The benefit of a non refundable reservation fee or deposit paid up front from the buyer
Upon the close of the auction the buyer of your property will pay a non-refundable reservation or deposit calculated against the final selling price.
As the fee is paid on a non-refundable basis, you know that your buyer is serious and in a proceedable position.
This cuts out any timewasters and provides great security to your sale.
The best price in the current market
Think about how an owner of a piece of fine art maximises its value ? They sell at auction. Due to the increased marketing and unique pricing strategy that we operate, we get you the best possible price in the current market. A property will always sell for what it’s worth, plus you have a reserve price so you know it won’t sell for anything less that that chosen figure.
Traditional auction
This is the historic method of auction that most people will know. Under this method buyers and sellers are required to exchange contracts immediately after the auction.
This provides complete security and is a very useful method for certain properties. We will discuss this method of sale with you if we feel it is appropriate for you circumstances however something to bear in mind for more traditional residential properties, this method of sale can alienate certain buyers which can have an effect on the price you achieve.
Is my property going to sell
There are two components needed to maximise the chances of a sale through auction. Firstly, a motivated and realistic seller and secondly, great marketing exposure. Our marketing and unique pricing strategy will make sure you obtain the best possible price in the current market.
If you decide to explore the auction route further, a member of our auction department will discuss with you the best pricing strategy to maximise interest in your property.
What's the difference between the online auction and the auction event
We hold auction events at specific times throughout the year. We also offer online auctions which run in tandem with the events. Simply we offer our clients an auction facility 24/7
The online auction system works like eBay. Properties are usually listed on the site for 30 days and at any point during this time a bid can be placed on a property. You can tell how much time is remaining on a specific auction as it is clearly stated in the auction countdown displayed against each property.
All properties will start out life on the online auction system and many will sell long before the auction event. However, our aim is to obtain the best possible purchase price in the shortest possible time.
Do I have to accept the highest bid ?
No, all properties are sold with an ‘undisclosed’ minimum reserve price (agreed with the seller) The only prices the public see are the starting and actual bids. The reserve price remains confidential. Once the reserve price has been met and the auction is closed the sale will go through. A reservation fee or deposit is then taken.
Is the bid binding ?
This is the modern method of auction. The bid binds the buyer to pay a reservation fee or deposit and sign the reservation form. If they are the highest bidder it does not bind the buyer to buy the property. Instead it allows them to reserve the right to exclusively exchange contracts on the property at an agreed price within the 56 days of the bid being accepted.
How quickly will I have to move out
We use the modern method of auction, which means that when the auction closes the winning bidder has 56 days to complete the purchase. This additional time over the traditional auction makes it more appealing for purchasers buying with finance or mortgage as it allows greater time to get the necessary paperwork completed.
Call us now on 0121 550 4151 for your FREE INFORMATION PACK or if you prefer email us at info@bkandk.co.uk