View buyers faqs >

Click on any of the following questions to view its answer.

1. What are the first steps if I am interested in selling a property?
2. What types of property are offered at auction?
3. What are the costs?
4. What sources of marketing do you use?
5. What areas do you cover?
6. Who sets the reserve price?
7. What happens with regards to viewings?
8. When do I need to instruct my solicitor?
9. Can the lot be sold prior to auction?
10. Do I have to be at the auction?
11. What happens if the property is sold on auction day?
12. What happens to the buyers deposit?
13. What if the property is unsold?

Q: What are the first steps if I am interested in selling a property?
A: Initially contact the auction team who will discuss with you the procedures and benefits of selling by auction. We will arrange for a valuer to inspect the property and discuss with you our thoughts with regards to a provisional reserve figure.
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Q: What types of property are offered at auction?
A: A large variety of properties are sold including residential and commercial property including properties with existing tenancies, development sites, green belt sites, ground rent investments, lock up garages.
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Q: What are the costs?
A: To place the property into auction there is a catalogue entry fee which is a non refundable cost of £395 including vat, this guarantees you a half page full colour entry into the sales catalogue this is a contribution cost towards the hiring of the auction venue, advertising etc. Should the property be sold there is a sales commission based on the sale price. For further information please contact the auction team.
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Q: What sources of marketing do you use?
A: We produce a full colour sales catalogue, which is distributed, to our database. Normally we would print in excess of 5000 catalogues we also have an e-mail mailing list, which is growing constantly. We have an exclusive website where a full catalogue can be downloaded along with legal packs and virtual tours where applicable. We also use newspaper advertising and currently have adverts in 12 separate publications. A For Sale board will also be displayed.
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Q: What areas do you cover?
A: Being based in Essex the vast majority of properties we offer are in the Essex area extending into all London areas and the Home Counties. We have even offered as far as Norfolk, Warwickshire, and Yorkshire.
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Q: Who sets the reserve price?
A: The provisional reserve figure is set in agreement with both the seller and the auctioneers, this figure will be discussed and agreed with you prior to placing the property into the auction catalogue. The reserve price is the lowest possible figure that the property can be sold for. If bidding does not reach reserve the property is withdrawn and is unsold.
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Q: What happens with regards to viewings?
A: As auctioneers we recommend that any interested party should internally inspect the property prior to auction and depending whether you are in residence viewings can be made at your convenience or if a key is left with the auctioneers we will organise block viewings where we are in attendance at set days and times, we group as many viewers together as possible. If the property is tenanted any viewings would be in agreement with the tenants and made at least 24 hours in advance.
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Q: When do I need to instruct my solicitor?
A: You need to instruct them upon entering the property into auction as they have to prepare what is known as the legal pack which would normally consist of proof of title, leases, tenancy agreements, local authority searches, planning documents etc. These documents are made available to the prospective purchasers prior to auction and these are made available from our website.
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Q: Can the lot be sold prior to auction?
A: All offers of reserve and above are reported to the seller in writing and should you wish to sell prior to auction you will need to discuss with the auction team whether we feel that it is the right decision. If you accept an offer from a prospective purchaser they will need to sign an auction contract with payment of 10% deposit before the property is withdrawn from sale.
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Q: Do I have to be at the auction?
A: No as the memorandum of sale will be signed on your behalf by a member of the auction team.
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Q: What happens if the property is sold on auction day?
A: The contract is effective on the fall of the gavel and a sales memorandum will be prepared confirming the sale figure, purchaser’s details, and solicitors details and will be signed by both the purchaser and the auctioneers. A 10% deposit or £2000 whichever is the greater, will also be taken.
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Q: What happens to the buyers deposit?
A: The buyers cheque is made payable to the auctioneers, we clear the cheque, deduct our fees and send the balance to your solicitors in readiness for completion.
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Q: What if the property is unsold?
A: Should the property not reach its reserve price we have a contract with you for up to 28 days after the auction where the property can still be purchased under auction conditions.
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