Local estate agents launch property auction service
By BubblePR | Tuesday, September 10, 2013, 09:58
- Choice of contracts and completion within
left to right Mark Gibbins, Marc Richards, Richard Worrall, Jonathan Southgate and Robert Yule
a set timescale
Property Specialists in Taunton and the three Gibbins Richards offices – in
Taunton, Wellington and Bridgwater – now offer auction as a method of buying
and selling property.
used for the sale of unusual, dilapidated or repossessed property, auction has
become more commonplace in the mainstream market, increasingly popular with
vendors of all types of property for a higher degree of certainty that a sale
will be agreed on a given day with a set timescale for completion, at the best
with the introduction of a new type of contract, bidding at auction is now a
more popular method of purchase than ever, with first time buyers sitting
alongside up- and down-sizers, small developers, landlords and seasoned
investors, all hoping to place a winning bid within their allocated budget.
Property Specialists and Gibbins Richards have teamed up with Wood's Estate
Agents and Auctioneers, highly experienced consultant auctioneer Richard
Worrall and Property Sharing Expert estate agents across the South West to
offer the auction method of sale for their clients, with the option for single
property auctions - usually held at the address to be sold - or entry into multi-lot
offered for sale by auction with the agents will benefit from the usual
in-office, online and in-print marketing exposure as well as featuring in the
auction catalogue, which is mailed out to registered property investors and
individuals, adjacent occupiers, developers, builders and property companies
nationwide and is fully interactive online. Each of the lots is also listed on www.eigroup.co.uk, the web site of the
Essential Information Group - the leading source of information for anyone
looking to buy or sell a property at auction in the UK.
agents offer a choice of auction contracts – the traditional Auction Contract,
whereby a 10% deposit is payable immediately and completion is set for 20
working days later – and the new Conditional Contract, which requires a deposit
of just £3,500 with completion set for 42 days after the event; the buyer may
withdraw within 28 days but if they do so, they lose their deposit and any
other monies they may have paid up to that point. The Conditional Contract
allows the purchaser, after the auction, to finalise any additional legal work,
easing the fear and anxiety factor whilst also ensuring that both the buyer and
the seller are committed to the deal. A deposit of just £3,500, regardless of
the purchase price, opens up the opportunity of buying at auction to 'normal'
purchasers as well as cash-rich buyers, investors and developers.
sales held by Wood's, Richard and Property Sharing Experts this year have
achieved an impressive sales rate of 89%, compared to the national average of
78% (source EIG). Over three sales held in the first half of 2013, 16 of the 18
lots offered for sale were sold, raising a tidy sum in excess of £1.8million
for sellers with the security of completion within a set timescale.
process is entirely transparent with all interested parties in the same room
and the fall of the gavel representing a binding contract. Online, telephone
and proxy bidding are available for buyers who are unable to attend in person.
no obligation market appraisal, for free expert advice on selling by private
treaty or auction or for the next available multi-lot auction dates, contact
Yule Property Specialists in Taunton (01823 327111) or Gibbins Richards in
Taunton (01823 332828), Wellington (01823 663311) or Bridgwater (01278 444488).