May Auction Newsletter
A word from our Sales Manager, Richard Webb
The Easter Break in the early part of April administered a slow down with enquiries, but oddly, not sales. It perfectly illustrated that when many people are away enjoying a break, the determined and motivated buyers are still ready to focus on that one particular property and secure it.
Motivation is key for any property sale/purchase. And whilst many still harbour traditional misconceptions of what constitutes an auction listing, those in the auction space will inform you that any property, no matter the location, condition or price is suitable to be sold via this route, and so ultimately it is dependent on the seller and their motivations.
Coupled with motivated buyers and sellers, a property to be sold at auction will be required to be legally prepared in readiness for sale. We work with solicitors who can prepare a Legal Pack for any property, residential or commercial, at no upfront cost; and all on a 'no sale no fee' basis.
If you have a motivated seller seeking certainty of sale. We can help.
Click to book your demo today.
Richard Webb
National Sales Manager
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An update from Carol Clipston - BDM North West
Working in the North West of the country, it is apparent like many other locations, that the property market has changed significantly in the last 12 months and remains challenging. This market adjustment has resulted in properties taking longer to sell on the open market, with repetitive fall throughs, alongside what is already a lengthy conveyancing process. The average sale is taking approximately 5 – 6 months to get from sale agreed to completion and is susceptible to fall throughs and down valuations. It is no surprise that many agents are beginning to recognise that a property sold by us at auction, can be exchanged and completed within as little as 28 days, with individual requirements tailored to.
We are delighted to say we have seen a huge uplift in agents joining our partner agent network all looking to be able to offer an alternative exit strategy for motivated vendors whilst streamlining their business's and maximising their time and profits.
There really is no better time to utilise our auction service. You will have the benefit of having more than 100 property professionals working on your behalf with the added benefit of no sales progression and a larger fee.
Click to book your demo today.
Carol Clipston
Business Development Manager
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Update brought to you by Ness Mumford - Auction Admin Manager
Having been the Auction Admin Manager for circa four years, I can confirm that no two days are the same and we approach both fresh and reoccurring challenges frequently. I am thankful of my experience within a legal background covering conveyancing, wills, probate as well as Private Client litigation cases.
Once instructed by a client, there are several stages prior to getting the property fully legally prepared in readiness for auction. We conduct Land Registry search to ensure that the vendor is the correct person to be able to sell the property, together with Anti Money Laundering checks whilst also obtaining photo ID and proof of address. Sometimes this creates further obstacles - most common are restrictions on titles or pending applications. This will require my team to collaborate with solicitors and sellers to ensure a speedy resolution and limit any delays in the Legal Packs readiness.
The team strive to ensure all Legal Packs are turned around in a matter of just a few days, typically the majority are ready within ten business days.We take responsibility to check the contents of the legal pack ensuring the contract and its associate Special Conditions are present. Once ready we ensure all packs are made available to any interested party and are easily downloaded.
Our team is recognised as being an integral part of the auction process who oversee the preparation of approximately 600 Legal Packs a month. It is the Legal Pack which provides purchasers with the opportunity to run due diligence prior to bidding, and exchange contracts at the point of bid/offer accept. Being able to offer a Legal Pack upfront at no cost on a 'no sale no fee' basis is also becoming an ever-increasing attractive proposition for property sellers.
Click to book your demo today.
Ness Mumford
Auction Admin Manager