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Auctions

Baker Wynne and Wilson offer a number of services for clients wishing to auction their property.

Selling at Auction

Auction is a specialised method of sale and experience is vital to ensure that correct advice is given as whether or not your property is suitable for sale by auction. The partners have been selling property and land by auction for thirty years.

If the decision is to proceed the cost of selling by auction would be fully outlined and all charges carefully itemised. You will be advised of the sale date and the stage at which advertising and marketing will commence, in addition to arrangements for viewing. Properties are normally marketed for 4 to 6 weeks prior to auction.

In many cases the sale of property by auction can produce the best results within a relatively short period of time.

Properties sold at auction are subject to a reserve price. This is the figure below which the property will not be sold, but will not necessarily be decided until shortly before the auction when the general level of interest is known. The reserve price is not disclosed to prospective purchasers but the guide price is given.

Throughout the marketing period we will keep you fully informed of progress, something you will find especially useful if you are not occupying the property to be sold.

Buying at Auction

The first consideration is to ensure that you have made adequate financial arrangements to enable you to bid for the property for which you are interested.

This may take the form of a mortgage offer or bank loan and will involve contacting a lending institution to discuss your financial requirements. Alternatively, we will be pleased to arrange an appointment for you to discuss the requirements with an independent financial advisor.

If your bid is successful you will be asked to pay an immediate deposit in the sale room equal to 10% of the purchase price, with the balance due normally 28 days after the date of the auction. You will also be required to sign a legally binding contract at the sale.

Properties sold at auction are subject to a reserve price. This is the figure below which the property will not be sold, but will not necessarily be decided until shortly before the auction when the general level of interest is known. The reserve price is not disclosed to prospective purchasers but the guide price is given.