Online property
Auction Service

Luscombe Maye traditional online property auctions are a new effective way to buy and sell property and land. Buyers can place bids at any time of day, or night, from the comfort of their own home compared to feeling the pressure of a live auction room scenario.

Selling by online property auction 

Selling by traditional online property auction offers speed and certainty for both buyers and sellers. The transaction times can be sped up to 5 weeks to completion compared to the average of 20 weeks for a private treaty sale process. Greater certainty is provided as there is less than a 1% fall through rate, saving you as a seller important time and the emotional upheaval of a sale failing and not proceeding. 

The seller is responsible for gaining a legal pack from their solicitor which will be available once the auction is live. A guide price is set at a realistic level, to generate as much interest as possible with the end objective of generating higher sale values for the seller. A reserve price is set to allow for a safety net to be reached, any offers lower than this will mean that the property will not be sold at auction so there is certainty here too. 

Buying by online property auction 

Buying by traditional online property auction offers a number of the same benefits as selling by private treaty, but the main benefit is the transparency of the sale process. Those bidding can see bids and further counter bids so there is no chance of missing out. This transparency is also identified in the legal pack, which will be available online. It is the purchaser’s responsibility to make all necessary enquiries prior to the auction end date. The speed of the transaction might also be attractive to buyers as it allows them to gain possession of the property more quickly compared to a private treaty purchase. 

The property will receive extensive marketing and advertising prior to the fall of the hammer, through our website and property portals, including Zoopla and Rightmove and viewings will still take place through us as the agent, the same as with other methods of marketing. The only difference is that there is a time period within which buyers are required to bid in order to try and secure the property or they may miss out.

If you are thinking of selling and would like to know more about how the online auction process can help you, please call us on 01364 646 177 for a free, no obligation pre market appraisal.