Property

Auctions

In order to bid at a property auction you must be pre-registered

Download Registration Form

We are passionate about auctions and have been selling land and properties at public auctions since our company was established in 1871.

There are a number of benefits to buying or selling this way and with a little bit of prior research and preparation, auctions can be quick and cost effective for both parties. As the purchaser has to sign a contract on the day then the sale becomes legally binding and generally completion of the sale takes place 28 days later.

To sell your property or land at auction, it will be valued by one of our experts and both an auction guide price and subsequently a reserve price agreed upon.  A small fee is charged to include your lot in the listings and upon completion you will be charged a pre-agreed commission rate.  We will liaise about contract packs and conditions of sale documents with your chosen solicitor, as these documents need to be available to interested parties prior to the auction.

From a buyer’s perspective, we also make the process as straight forward as possible.  Immediately after the auction the buyer will be expected to sign a legally binding Contract and pay a 10% deposit.  A buyer’s fee of £400 plus VAT (£480 inc. VAT) will be charged per auction lot.  If one property is offered in more than one lot, the fee will be chargeable on all lots whether or not one purchaser buys all.  Completion would normally then occur 28 days later unless specified otherwise.  It’s as easy as that!

Due to the changes made to the Money Laundering Regulations, we are now required by law to verify the identity and address of everyone who offers, bids or buys at our auction.  An auction registration form can be found above.

If you think your property might be suitable for auction or if you would like some free, confidential advice about the buying process, please contact a member of our team.

Auctions – Traditional or the “Modern Auction” Method?

Property Auction Prices

Some of the particulars on this website contain details about properties being sold at auction. Those details are subject to change up to and including the day of the auction. Please check our website and look out for any additional materials available on the day of the auction, in order to stay fully informed with the up to date information.

For the assistance of prospective purchasers, the following are definitions relating to the Guide Price and the Reserve Price;

Guide Price: An indication of the Agent’s opinion of value and the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is sometimes the case that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Reserve Price: the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the immediately prior to the auction.