Firstly we invite two local estate agents to the property to provide a market appraisal and valuation. From these figures we agree with you a reserve, which is only known by us and the administrator / executor and is the lowest figure you would like to achieve.
Once we have agreed a reserve the auction can commence. Over the 28 days of the auction, the public bid from a starting price until the highest price is achieved. If the reserve is not met, you can either accept the highest bid or simply withdraw and it will have cost you nothing, but you will know that the market has been thoroughly tested.
We market on Rightmove with images, descriptions, floor plans and an EPC.
We then arrange and oversee open days and private viewings.
This process achieves much more than the traditional auction because we can sell to mortgage and cash buyer. Once the final price has been reached and the bid accepted the conveyancing starts in the usual manner.
Included in the auction is an added provision where if a bid is made in the final 15 minutes, the auction extends for a further 15 minutes enabling counter bids to be made. In this way we can extract the maximum price from rival bidders.
In short we achieve the maximum sale price with total transparency.