Selling your property has never been easier with Modern Method of Auction

Modern Method of Auction (MMoA)

This is one of our preferred auction methods due to its popularity, offering the advantages of speed, transparency, and security akin to a Traditional Auction. Notably, in this approach, the exchange and completion of contracts occur within 56 days from the receipt of the draft contract. This extended timeline encourages greater participation, especially from potential mortgage buyers, making it sometimes referred to as a "Conditional" auction.

·         Completion timescales of 56 days from receipt of Draft Contract.

·         Timescales allows interest from mortgage and cash buyers.

·         Buyer pays a non-refundable Reservation Fee and signs a Reservation Agreement, showing their commitment.

·         No Selling Fee – typically, the seller only pays for the cost of an Auction Pack on completion.

Benefits of selling at auction

Auction might not suit every circumstance, but there are some great benefits and with Fraser Reeves working in partnership with iamsold, selling your property at auction has never been easier.

Complete Faster

Private Treaty can take 100+ days to complete whereas auction provides fixed exchange timescales of 28 or 56 days from receipt of draft contract. This means you can plan your move more easily.

Optimised Exposer

An attractive Starting Bid drives interest and with all parties having visibility of all offers, it encourages competitive bidding, which can help to drive up the final selling price of your property.

Additional Security

With auction, buyers pay a non-refundable Reservation Fee or deposit to secure the property so all parties can move forward with confidence.

A Reservation Agreement is also signed by the buyer, committing them to complete the purchase. This means the risk of fall-through with auction is less than 5%, unlike Private Treaty which has an average fall-through rate of 30%.

NO SALE, NO AGENCY FEE

Nothing to pay if your property doesn’t sell. You only pay an Auction Pack Fee on completion.

Auction Pack

If you decide to sell your property at auction you will need an Auction Pack.  These packs contain important material information about your property that potential buyers need when deciding if they wish to place a bid.

These packs typically include:

·         Title documents of Epitome of title

·         Property Information Form

·         Local Authority Search

·         Water and Drainage Search

·         Reservation Agreement

·         General Terms and Conditions

·         Fixture and Fittings Form

·         Any special conditions of sale

Comprehensive Auction Packs offer value for money; you can speak to our Auction Specialist for up to date pricing information or alternatively, pricing can be found detailed in your Auction Contract.

Still not sold?..........

……. been on the market for a while?......

Or perhaps the sale has fallen through?

Then maybe now is the time to try an alternative method, the Modern Method of Auction.

Give us a call today and ask more about Auction 01925 222555.