As a prominent London-based auction house, we specialise in selling residential and commercial properties throughout the UK. Whether you are a seasoned investor, a corporate seller or just getting started in property investment, Benjamin Stevens has a customised solution to suit your needs.
We have the knowledge and experience to provide you with the best guidance for this current market thanks to our experience, reach and successful property sales. In most cases prices achieved are usually higher than expected, so let’s get you sold!
Benefits of selling at auction
We advertise your property across the UK via online marketing, including listings on Rightmove, Zoopla, On the market, our website, plus many other portals.
Your property will be sold to the highest bidder thanks to the competitiveness of auction. This offers a level of transparency not attainable through private treaty.
When multiple bidders compete for your property, the competitive nature has the potential to significantly increase the final sale price. Unlike a traditional transaction, auction contracts follow specific time frames and the buyer must complete within a set period.
An auction contract is unconditional which is another significant benefit. The buyer places a 10% non-refundable deposit after the hammer has fallen, contracts are then exchanged. Completion is typically 4 weeks but this can be determined by the vendor.
How to sell at auction
Some types of property are better suited for auction than others. For instance, a property in need of modernisation will be more attractive to builders and developers, but a higher sale price may be achieved due to the competitiveness of auction.
The reserve price is crucial (the lowest amount we can sell for). We will recommend a reserve and guide you through the entire process. Once a reserve has been set, we will agree terms with you, including entry fees, commission.
We then schedule an appointment to view and photograph your property, a Virtual Tour will also be captured. This is a great way to give your property the maximum exposure. If buyers can not view physically, these state of the art tours are a great to bridge the gap. This works well with overseas investors.
Following this visit, the particulars are uploaded to our website, Rightmove, Zoopla, EIG and other portals. We have offices across the UK that will also advertise your property, giving you full national exposure with a greater chance of achieving a higher price.
You will have to instruct a solicitor to compile the legal pack to include; a copy of the Title, the Land Registry, local searches, the Property Information Form, leases, tenancy agreements, and any planning permission. Prospective buyers will be able to download the legal pack together with all property details. If you do not have a solicitor we can recommend one from our trusted panel of solicitors. Please click here to email the team with your requirements.
Once your property is listed we conduct open house viewings which are widely publicised. These viewings are successful and highly regarded by potential auction buyers.
Buyers register their interest and receive bidding authorisation prior to auction. We advise you on how many people have registered to bid. When the final bid has been accepted the buyer is now legally bound to complete the purchase. We notify your solicitor to manage the sale and completion. On completion, the property must be vacant, unless sold tenanted.
If you would like more information on how the auction process works or you would like to enter your property, please contact the Benjamin Stevens Auctions team.
For a free valuation kindly click on the button below.
