Auction General
ADVANTAGES OF PUBLIC AUCTION
Known timescale in terms of marketing. Usually between six to eight weeks.
Fixed timescale in terms of completion. Usually within twenty-eight days although variable upon request and with timescales to be set by the vendor.
Creation of competition within the marketplace with prospective buyers often having to bid against one and another in an open and transparent environment.
Potential to achieve true market value and exceed perceived market value if competition is fierce.
Potential for property sale to occur on the auction day with the potential of reverting to a private treaty marketing campaign with little or no effect upon the future marketing if professionally carried out.
AUCTION PROCESS
Armitstead Barnett, and T. Armitstead & Son have been providing property auctioneering services for in excess of 100 years. The use of a property auction is an extremely effective way of marketing and ultimately disposing of property assets.
In short there is an aggressive marketing campaign leading up to the date of the auction during which time the property will be fully available for viewing and marketed on a local, regional and national basis. Contract packs will have been previously prepared by your legal representatives although the process of arranging this will have been carried out via liaison from our surveying and agency professionals.
A reserve will be set and this will be following discussions between ourselves and the vendor although the ultimate level will be set by the vendor and this will be the lowest amount that you will be prepared to accept. The reserve is of course privy only to ourselves and the vendor.
On the day of the auction any successful purchaser will be required to pay a non-refundable 10% deposit there and then, sign the contract and then be bound to complete, normally within twenty-eight days.
For the correct property categories there can often be no better way of attaining the highest possible market value.
PROPERTY CATEGORIES SUITED TO AUCTION
Although our professional surveying staff will be able to provide you with a true indication as to the likelihood of success at auction there are no set rules as to which category properties may prove successful. Those categories that often benefit from the auction process are as follows:
Example brochures for some of the properties that we have successfully sold at auction (giving a wide example range) are available by clicking HERE, which will connect you to our previous auctions download page.
Known timescale in terms of marketing. Usually between six to eight weeks.
Fixed timescale in terms of completion. Usually within twenty-eight days although variable upon request and with timescales to be set by the vendor.
Creation of competition within the marketplace with prospective buyers often having to bid against one and another in an open and transparent environment.
Potential to achieve true market value and exceed perceived market value if competition is fierce.
Potential for property sale to occur on the auction day with the potential of reverting to a private treaty marketing campaign with little or no effect upon the future marketing if professionally carried out.
AUCTION PROCESS
Armitstead Barnett, and T. Armitstead & Son have been providing property auctioneering services for in excess of 100 years. The use of a property auction is an extremely effective way of marketing and ultimately disposing of property assets.
In short there is an aggressive marketing campaign leading up to the date of the auction during which time the property will be fully available for viewing and marketed on a local, regional and national basis. Contract packs will have been previously prepared by your legal representatives although the process of arranging this will have been carried out via liaison from our surveying and agency professionals.
A reserve will be set and this will be following discussions between ourselves and the vendor although the ultimate level will be set by the vendor and this will be the lowest amount that you will be prepared to accept. The reserve is of course privy only to ourselves and the vendor.
On the day of the auction any successful purchaser will be required to pay a non-refundable 10% deposit there and then, sign the contract and then be bound to complete, normally within twenty-eight days.
For the correct property categories there can often be no better way of attaining the highest possible market value.
PROPERTY CATEGORIES SUITED TO AUCTION
Although our professional surveying staff will be able to provide you with a true indication as to the likelihood of success at auction there are no set rules as to which category properties may prove successful. Those categories that often benefit from the auction process are as follows:
- Properties requiring full refurbishment or renovation;
- Vacant properties;
- Commercial premises;
- Properties within a category where there is scarcity within the market place;
- Unusual and one-off property assets;
- Investment properties;
- Low value properties.
Example brochures for some of the properties that we have successfully sold at auction (giving a wide example range) are available by clicking HERE, which will connect you to our previous auctions download page.
