Our Auction Service
Many properties would typically be sold at auction and, with the benefit of a fast and reliable outcome, this route is increasingly being adopted by Vendors looking for speed and certainty.
Auctioning a property through Holroyd Miller is a simple and transparent process. Our auction department operates an online system and together we will take you through the process from valuation to the fall of the gavel. There is no gathering in a hotel room, but buyers have the opportunity to view, carry out due diligence and then bid online on a given day.
This online service is offered to you the Vendor with 0% commission to pay; your only direct costs are arranging for a solicitor to produce the legal pack and further conveyancing. The buyer, meanwhile, is asked to cover auction costs through the reservation fee. You agree to your reserve price so the property is never sold for less than you allow. The buyer must complete the purchase within 28 or 56 days (where finance is required).
On the fall of the hammer the buyer pays a non-refundable reservation fee (covering auction fees and costs) meaning that they are financially committed to the purchase at the agreed price.
The process from start to finish is transparent and all bids on your property are shown online to encourage other bidding. A ‘going once, going twice’ feature means that any bid in the final minute extends the auction timer by 3 minutes, thus achieving you the best possible price by allowing counter bids.
If you would like to discuss selling a property at auction in more detail please let us know.