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Auction with Bidmead Cook
Selling at Auction with Bidmead Cook
Speed
There is no faster way of selling. The process can take as little as five weeks from instructing us, through to an exchange of contract. You will likely bank the proceeds of your sale within eight to ten weeks from going to the market.
Higher Profile Marketing
Your property will be advertised nationally through specialist publications that target investors and professional buyers. Your property will be featured in our high quality catalogue, which is mailed to thousands of interested buyers and extensively promoted on the web.
Open House Viewing Days
We set up special viewing days for your property. Each is hosted by a member of our Auctions team, who can talk knowledgeably about the potential that your property offers and answer all manner of questions from prospective buyers. It is by talking with these viewers that we can judge interest and help guide you in setting the Reserve Price.
Competitive Bidding
Our aim is to generate interest from two or more prospective buyers and to encourage them to bid against each other. The process of competitive bidding will help your property to achieve ‘best price’ on the day. Sometimes buyers are so anxious to acquire a property that they put in a very strong pre-Auction offer – if in our view that figure is unlikely to be reached or surpassed in the Auction Room, we will recommend its acceptance under Auction rules, and with a condition that contracts are exchanged in advance of Auction day.
Best Price
Often properties achieve a sale price at Auction in excess of the Guide Price. Regularly the result is ahead of that which might have been acceptable with a Private Treaty sale, but you can always be sure that it has achieved its Best Price on the day. This is especially important on Probate properties where Executors are required to achieve “Best Price”. When Auction is the chosen sale route then this is guaranteed and also open to public scrutiny.
Continuing Tenancy Income
Many investment properties are now being sold by Auction without vacant possession being obtained in advance. By continuing the tenancy the vendor will continue to receive rent until completion date, and the purchaser will start receiving an income from that date onwards. Auction House sells a wide variety of occupied properties – Regulated Tenancies, Houses in Multiple Occupations, Assured Shortholds and others that are let commercially.
Time Scale
If you are in a hurry or have a deadline to meet, then Auction could well be right for you. From the outset you will know the date of the Auction and legal completion will usually be set for 28 days thereafter. This time-scale is fixed and legally binding to the two parties. Financial pressures and the need to relocate or dispose of a property in a specific time frame can be easily accommodated and are almost always met with a sale by Auction.
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