- Selling Property Within Our Live Online Property Auction -
Auctioneers Start Lower and Reach a Higher Selling Price Ė Unlike Estate Agents Who Start High and Can End up Much Lower!
One of the best thing about 0131 Auction is selling your property with us is 100% COMPLETELY FREE OF CHARGE!!! - We do not charge the sellers a single penny, ever!
You can rest assured that the highest bid received at Auction end is 100% the amount you will receive for your property from the buyer, GUARANTEED.
Because 0131 Auction charges a small reservation fee above the final purchase price from the buyer of Auction property we are able to offer all sellers a completely free service... Now isnít that a pleasant change from the traditional high street Estate Agents way of doing business?
HOW IT WORKS
Property Appraisal... You will receive a free no obligation auction appraisal of your property. We will advise you whether we think your property is suitable for sale by auction or not.
Guide Price... A guide price will be recommended which you will need to approve before marketing begins. It is important to set the guide price at a realistic level which is attractive to buyers.
Reserve Price... Prior to selling your property at auction, a reserve price will be agreed with you. This is the level below which our Live Online Property Auction staff will not be authorised to sell your property. It is important that the reserve price is set at a realistically achievable level.
Formally Instruct Us... Following agreeing on a suitable guide and reserve price for your property, as stated above, you will then receive an auction agreement to sign and return.
Sales Commission... NONE! We do not charge sellers a single penny to sell their property within our Live Online Property Auction.
Viewings... Where applicable viewings of your property will be carried out by appointment only.
Interest and Offers... During the marketing period all interest and enquiries are logged. Our Auction experts will maintain close contact with potential buyers and liaise with you throughout as well as reporting to you any direct offers to purchase made prior to the Auction end time.
The Auction Day Itself... For sellers it is important to note that if your property reserve price is achieved at any time within the Auction this represents an exchange of contracts and the successful bidder is legally obliged to pay us a reservation fee amounting to 2.5% of the purchase price. The buyer cannot renegotiate the contract and cannot change any of the terms stipulated. Completion usually occurs 28 working days after the auction end when the balance of the price is payable directly to your Solicitor. Our Live Online Property Auction can be extremely competitive and the prices achieved at Auction can often be higher than those achieved by private treaty, i.e. through an Estate Agent.
What Happens if My Property Does Tot Sell at The Auction End Time... If your property fails to reach its reserve price by the auction end time it will automatically be listed for a further Auction period (usually lasting 7 days) until sold or withdrawn by you. Your property may even be sold in the days or weeks after the initial Auction end as we continue to heavily market the property via various advertising mediums. It is quite common for an unsold property to sell within an hour of the auction ending as potential buyers may have simply been delayed, etc.
It is important to remember that we cannot accept a guide or reserve price that is unrealistically high, basically because we aim to sell the property within 7-28 days. If you would like to sell your property quickly, completely free of charge and receive a realistic purchase price then selling at Auction is definitely right for you!
-Purchasing Property Within Our Live Online Property Auction -
What You Need to Know...
Purchasing property at our Live Online Property Auction is really very simple... once you know the rules of course!
How to Participate Within Our Live Online Property Auction...
The whole process is started with your completely free registrationwith us. Please Click Here or click the 'REGISTER' tab located at the top of this page in order to complete this process. Following registration as a property purchaser one of our representatives will telephone you same day in order to complete the registration process in full and activate your Auction account. You are now free to bid on all properties offered for sale within our Live Online Property Auction website. You will also be updated automatically via Email every time a new property is listed for sale within our Live Online Property Auction.
Following registration, if you are interested in purchasing any of the properties we offer for sale please contact us directly by using the link within the individual auction description page or via our Contact Us Page so we may make the necessary arrangements for viewing on your behalf, including more information about the property as well as sending you a copy of the Home Report.
Who Are The Property Sellers At 0131 Property Auction...
The people selling within our Live Online Property Auction are private owners of houses, flats, apartments, holiday homes, etc. Furthermore, various companies may be selling properties at auctions such as building contractors, property developers, investors and investment funds as well as foreign nationals and companies that own properties. Everyone has different reasons and priorities as to why they are selling their property within our Online Auction and they all have their own different individual circumstances under which they are selling.
Advantages of Purchasing Within Our Live Online Property Auction...
IT HAS PROVEN TO BE VERY FAST, EFFICIENT & AFFORDABLE!
Our Live Online Property Auction enables property buyers to purchase property in a fast, efficient and affordable way! The successful buyer is the one that offers the highest price which has to be equal to, or higher than, the property sellers reserve price. The property reserve price is the minimum price that the seller is willing to accept to sell the property at Auction. From the moment the Online Property Auction ends the property is your's - providing you complete the Property Missives in full within the required 28 days from the date of signing our Online Auction Contract. Buying at Auction removes the possibility of a seller changing his/ her mind about the price. The buyer and seller have a set time-frame in which the property Missives must be completed giving everyone piece of mind.
Safeguards of Purchasing At Our Live Online Property Auction
The purchaser can rest assured that the seller warrants the property will be in the 'same condition' as described within the Home Report supplied prior to bidding. If the property is not 'as described' within the Home Report on the day of completion then the seller will be financially liable to bring the property back to the Home Report stated condition.
Statutory Repairs Notice...
The buyer can rest assured that the seller is liable for any outstanding Statutory Repairs Notices served and outstanding on the property up to the completion date of Missives.
Selection of Properties at Auction...
Properties offered at an auction include a wide range of properties from all over Edinburgh, Lothian's and Fife consisting of residential and commercial dwellings such as houses, flats, villas, apartments, building plots, already started building projects, investment projects, warehouses, office space and hotels, etc.
Auction Cost to Property Purchasers...
A successful buyer is the one that has offered the highest bid (which has to be equal to or higher than the sellers reserve price) by the Auction end time and had it fully accepted, or had their offer to purchase the property accepted by the seller prior to the auction end. The buyer is obliged to pay 0131 Auction a reservation fee of 2.5% over and above the purchase price (Contract price) as commission within 48 hours of the auction end. The purchasers reservation fee must be paid by way of inter-bank CHAPS payment direct to 0131 Auction's bank account.
Useful Advice For Purchasers...
BEFORE BIDDING AT AUCTION PLEASE CHECK THAT YOU HAVE COMPLETED THE FOLLOWING:
Taken professional advice from a Solicitor, Surveyor and/ or Accountant
Read all the Auction terms and conditions (General and special ones)
Inspected the property/ lots that you are interested in purchasing
Check the relevant information and documentation about the property
Have finance available for the deposit and purchase price, legal and notary fees, as well as Auction commission and property purchase tax (If applicable)
Satisfied yourself as to the accuracy and completeness regarding the property you are interested in, as mentioned above
We wish you a very successful property purchase within our Live Online Property Auction.