Auction
Our flexible auction routes
We offer multiple selling options to suit your needs.
Modern Method of Auction (MMoA)
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This combines elements of Private Treaty and auction. It provides the speed, transparency and security of a Traditional auction but exchange and completion take place within 56 days of the auction ending. This extended timescale allows more interest as it enables mortgage and first-time buyers to participate. You may have also heard this method referred to as “Conditional” method of auction.
MMoA at a glance
- This method offers quick, but more flexible timescales of 56 days to complete.
- The more flexible timescales allow interest from first-time and mortgage buyers as well as investors.
- You have security as the buyer commits to purchase through paying a non-refundable Reservation Fee and signing a Reservation Agreement.
Please download our Sellers Guide to find out more...
Traditional Method of Auction
Exchange of contracts takes place as soon as the auction ends. The buyer is required to pay a 10% deposit at the point of exchange and must complete within 28 days. This is the most secure and fastest method of sale; however, it can limit interest to cash and investment buyers. You may have also heard this method referred to as “Unconditional” method of auction.
Traditional Auction at a glance
- Usually more suited to vacant properties, or those not suitable for mortgage lending.
- This method gives complete security as exchange takes place at the end of the auction.
- Fixed timescales of 28 days to complete.
Please visit www.allwalesauction.com for more information
Benefits of Auction
Selling your property has never been easier with our Modern and Traditional methods of auction.
Complete faster
On average, Private Treaty can take over 100 days to complete whereas auction provides fixed exchange and completion dates of between 28 and 56 days. This means you can plan your move more easily.
Optimised exposure
An attractive starting bid increases interest and encourages competitive bidding between prospective buyers, which can help to drive up the final selling price of your property. Intrigued yet? Click here for an instant online valuation for your property.
No sale, no fee
Nothing to pay if your property doesn’t sell. You only pay an Auction Pack fee of between £395 and £445 inc. VAT depending on your circumstances, but only when your property sells.
Additional security
With auction, buyers pay a non-refundable Reservation Fee or deposit to secure the property so all parties can move forward with confidence.
A Reservation Agreement is also signed by the buyer, committing them to complete the purchase. This means the risk of fall-through with auction is less than 5%, unlike Private Treaty which has an average fall-through rate of 30%.
Use our FREE Online Valuation tool to get an idea of the value of your property today or contact one of our local branches to find out more!