Sales commission is the fee charged by the auctions team for successfully selling the property. It is invoiced after exchange of contracts and usually settled by deduction from the deposit paid by the purchaser. The rate of commission is agreed between the seller and auctions team and shown in the Agency Agreement which sets out the fees and terms of business that apply.
An entry fee is a charge paid by the seller to the auctions team. This cost is to cover the cost of entering the property into the catalogue, the extensive marketing and promotion during the run up to the auction, right through to the auction day itself. It is usually paid when you instruct the team to sell your property, but on occasions and with prior agreement it may be settled from deposit monies on exchange of contracts.
Your property will be marketed on Rightmove, Zoopla and our own website. We also advertise your property on out social media where it can reach thousands of additional buyers looking to find a property just like your. Finally we market to our extensive database of over 50,000 people.
Reasons to choose auction include the speed and certainty that it offers; there is no faster way to sell and success rates through to completion are far higher than through estate agents. Other attractions are that it delivers a legally binding sale with contracts exchanged on the fall of the hammer, so neither party can pull out of the sale or try to renegotiate the price. The competitive bidding process aims to drive the price up so the property achieves its best possible price on the day too.
If you have a quick look through our current auction catalogue, you’ll notice we sell a property much every type of property, in any condition, anywhere in the UK. From family homes, plots of land, refurbishment projects, shops, hotels, blocks of flats, city centre apartments and more much – you name it, we’ve mostly likely sold it.
Our selling fees can vary depending on the location, condition and value of your property. We recommend that you discuss this with our valuer at the appointment stage.