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Modern Auction Success

Our Malvern branch have just sold their first property using the Modern Auction Method.  It sold in 2 weeks, attracted 16 bids and sold for £20K over the starting price with 0% agency fees to the vendor.

Stuart Bass, Manager said:  “We, and the vendor, are obviously delighted with how well our first modern auction has gone.

“Selling this way the property is listed on a 30 day online auction cycle where buyers can place a bid via the website or over the telephone. This platform of selling offers complete transparency with regards to bidding activity and the property will sell when the hidden reserve price is met, or exceeded.

“Upon close of the auction, the buyer pays a reservation fee on a non-refundable basis to commit to the purchase and formally end the auction. The buyer then has the knowledge that we will not entertain any further viewing or bidding activity. We then allow a total of 56 days to complete the transaction from receipt of draft contracts giving confidence to both the vendor and buyer.”

Stuart went on to say “We have another property that we’re planning to sell in a few weeks’ time using this method.   We’re anticipating a high level of interest as it’s a unique property in extensive grounds, and views up to the hills.”

If you want to know more about the modern auction method or are thinking about selling your home, looking to rent or buy Stuart and his team would be delighted to help you.

Please either pop into Andrew Grant Malvern, telephone: 01684 770538 or email: stuart.bass@andrew-grant.co.uk.

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