PROPERTY AUCTION
Monopoly Buy Sell Rent are delighted to partner with Lot9 Auction House Limited.
Lot9 pride themselves on being a modern, forward thinking and friendly Auction House. They can sell your property, whether it be a family home, a business premises or land either, at an auction room or via their online auction portal.
When you choose the auction route your local Monopoly Buy Sell Rent branch will continue to work as your estate agent alongside Lot 9. The branch will receive a fee, which is taken from your buyers, buyer fee.
Lot9 and Monopoly Buy Sell Rent will support you every step of the way until the day the funds land in your account.
THE TRADITIONAL METHOD OF AUCTION
This is the type of auction that people think of when they think of auctions; a room full of buyers and a hammer at the end. It is a tried and tested method associated mainly with selling and buying investment stock. Due to more restrictive timeframes to exchange contracts and complete the sale, this type of auction often attracts “cash-buyers”.
THE ONLINE METHOD OF AUCTION
This is a more accessible route and since covid has become the main method of auction. Online method of auction creates a transparent platform for buyers and sellers combining the best aspects of traditional auction and private treaty sales. At a time specified, the auction goes live (usually with a few hours) to enable all pre-registered and financially vetted bidders to bid. Auction terms and conditions are exactly the same as the traditional auction, with exchange of contracts on the fall of a virtual hammer with completion on or within 28 days.
SELL YOUR PROPERTY QUICKLY & SECURELY
Selling your property at auction could help you sell your home quicker.
- Auctions are a great way to avoid lengthy and uncertain buying procedures.
- Request a few property appraisal to discuss the best way to sell your property
- With support, agree a guide price when adverting the property
- With support, agree a reserve (minimum) price for auction day
- With support, instruct a solicitor to prepare the Auction Pack so we can liaise with the them
- Selling fees are 2% plus VAT or 2.4% incl VAT (minimum fee £2500, including VAT). Payable via your solicitor on the day of completion.
BUYING AT AUCTION
Have you ever thought about buying your next home at auction?
- Auctions are a great way to avoid lengthy and uncertain buying procedures.
- Before bidding make sure you read the Auction pack
- Make sure you visit the property yourself to inspect it and the area around it
- Instruct a surveyor to give you a report before the auction
- Ensure you have the finances in place to buy and pay your fees before you start bidding
- Register your interest before the auction day so all due diligence checks such as money laundering ID can be undertaken
- If attending a live auction, arrive early, if bidding on the phone or beforehand let us know in plenty of time.
- Buying fees are 2% plus VAT or 2.4% inc VAT (minimum fee £2500 inc VAT). This fee is payable on auction day immediately after the hammer falls