A Faster, More Certain Way to Sell
Property auctions are no longer reserved for renovation projects, repossessions or unusual properties. Today, auctions are an increasingly popular way for homeowners, investors, executors and developers to achieve a sale quickly, transparently and with greater certainty.
Whether you're looking for a swift sale, have a unique property that may attract competitive bidding, or simply want greater control over timescales, selling by online auction can be an excellent alternative to a traditional private treaty sale.
At Chartwell Noble, we offer two auction routes to suit different circumstances and objectives: Traditional Auction and Conditional Auction.
Our experienced team will guide you through the process and help determine which method is most appropriate for your property.
Why Sell by Auction?
Selling property at auction offers a number of advantages:
- A clearly defined timescale for sale
- Competitive bidding can help maximise value
- Greater certainty once a sale is agreed
- Reduced risk of lengthy negotiations
- Ideal for unique, development or investment opportunities
- Suitable for probate, inherited and vacant properties
- National exposure to motivated buyers
Every property is different, which is why we take the time to understand your objectives before recommending the most suitable route.
Traditional Online Auction
Maximum Certainty with a Fixed Completion Timescale
A Traditional Auction provides one of the most secure methods of selling property.
When the auction concludes and the highest bid exceeds the reserve price, contracts are exchanged immediately. The buyer pays a deposit, typically 10%, and becomes legally committed to the purchase.
Completion normally takes place within 20 days.
Key Benefits:
- Immediate exchange of contracts
- Suited to sellers seeking speed and certainty
- Legally binding sale on auction day
- Defined completion period
- Reduced risk of fall-throughs
- Competitive bidding environment
Conditional Online Auction
Greater Flexibility with Broader Buyer Appeal
A Conditional Auction offers a more flexible approach whilst still providing many of the advantages associated with an auction sale.
When a buyer's offer is accepted through the auction process, they pay a non-refundable reservation fee and enter into a reservation agreement. This secures the property and allows a longer period, usually up to 40 days, to exchange and complete.
This gives buyers additional time to arrange finance, making the property accessible to a wider audience.
Key Benefits:
- Access to mortgage buyers
- Suited to those wanting the benefits of auction without immediate exchange
- Longer completion timeframe
- Wide market appeal
- Greater buyer flexibility
- Commitment from the buyer through a reservation agreement
Is Auction Right for Your Property?
Auction sales can be highly effective for a wide range of properties, from family homes and cottages through to development sites, probate properties and investment opportunities.
If you're considering selling and would like expert advice on whether a Traditional or Conditional online Auction would be most suitable, our team would be delighted to help.
Contact us today for a confidential discussion and a free property appraisal.
