Auctions are a tried and tested way of buying and selling property. In order to appeal to as wide a market as possible, DOMVS is offering two different types of auction.
On the fall of the gavel, the successful bidder pays a 10% deposit and is legally bound to buy the property. Completion is within 28 days. The seller is also legally bound to sell. This type of auction favours cash buyers and investors.
The successful bidder pays a non-refundable deposit of £3,500 on the fall of the gavel, and agrees to complete within a maximum 42 days. Under this scheme, the buyer has the option to withdraw within 28 days.
If you are looking to buy and your home is under offer with exchange of contracts imminently anticipated, this auction is ideal for you as it enables you to bid against cash buyers. For sellers, it opens up the auction to a wider audience and creates a livelier bidding environment.
DOMVS will help you determine which auction is best for you.
In the first instance, a negotiator from our Residential Sales department will appraise your house and circumstances. If an auction is the best option, we will put you in touch with our auctioneer who will be pleased to answer all your queries.