Head Office Nottingham. Auctions Property JOHN PYE & SONS LIMITED Trading as: - John Pye Auctioners & Valuers - John Pye Corporate Asset Management - John Pye Property - John Pye Auctions - John Pye Luxury Assets James Shipstones House Radford Road Nottingham NG7 7EA Please note John Pye Auctions and John Pye Property are both trading names of John Pye & Sons Ltd. Information is also available on www.johnpye.com Copyright John Pye & Sons 2010 John Pye & Sons Ltd, Registered Office James Shipstone House, Radford Road, New Basford, NOTTINGHAM. NG7 7FQ Registered Company Number 02564753 johnpye.co.uk Online Property Auction Sellers Guide Seller Fees.
CLICKS TO BRICKS... It s time to widen your horizons and get connected to the wider property market. It s time to open up to a world of possibilities JOHN PYE ONLINE PROPERTY AUCTIONS VALUATIONS AGENCY MAINTENANCE & SECURITY Welcome to the Online Property Auctioneer. Contents Pages 06/07 THE ONLINE ADVANTAGE Pages 12/15 THE ONLINE AUCTION 1. The Online Auction Pages 08/11 PRIOR TO AUCTION 2. The Fall of the Online Gavel 3. Transfer to Solicitors and Completion 1. Free Auction Appraisal and Sales Valuation 4. Unsold Lots 2. Entering your Property into our Online Property Auction 3. What do we Charge? 4. Legal Documents 5. Proof of Identity 6. Guide Price 7. Marketing your Property 8. Pre-Auction Services 9. Pre-Auction Offers 10. Reserve Price 02 03
JOHN PYE ONLINE PROPERTY AUCTIONS VALUATIONS AGENCY MAINTENANCE & SECURITY Maximum exposure and Seller Fees... 04 05
JOHN PYE ONLINE PROPERTY AUCTIONS VALUATIONS AGENCY MAINTENANCE & SECURITY The advantages are clear... Sale Fee Entry Fee Buyers Premium Place of auction Time under the hammer Viewings Legal Documents Number of photographs per property Number of advertising pages per property in the auction catalogue Floor plans included? Number of registered buyers Experience of staff Experience of Company Number of dedicated auction staff Average monthly web hits Fees Payable 10% Deposit Payable John Pye Property Online Auctions 0% 0 2% Online bid from any computer or smart phone 2 Days Open days or viewing by appointment Available online 10+ 2 full pages Yes Over 140,000 and growing We have in-house RICS and NAVA qualified employees Established auction company with over 45 years of trading experience. We held over 250 auctions in 2013 across all asset types in 12 locations nationwide 200 800,000 Sale = No Fee / No Sale = No Fee Yes Traditional Offline Auction Houses 1.5% - 3% 295-3000 500-1500 Restricted to an auction venue on a specified date and time 1 to 3 minutes Block viewings or viewing by appointment Available online 1 1/3 of a page Vary rarely Sale - Fees Payable / No Sale = Fees Payable Yes 06 07
Prior to Auction Find out property and auction information All information regarding the online auction, properties for sale and the Online Catalogue can be found on our website www.johnpye.co.uk/property. 08 1. Free Auction Appraisal and Sales Valuation We will provide our sales strategy, advice on the likely achieved sale price of the property, the timescales involved, free of charge. REMEMBER: Everything from initial marketing advice, the marketing of the property and the sale fee will be completely free of charge for the launch of our innovative online property auction. 0% SALE FEE & MARKETING COSTS Contact us now to take advantage of this exclusive FREE offer. Click here to complete our online property auction request form or contact our experienced property team on 0115 970 6060. 2. Entering your Property into our Online Property Auction After we have discussed your auction appraisal and you are happy to sell your property with us, we shall send your our a copy of our standard terms and conditions. You will be asked to sign and return our standard auction contract to confirm your instruction. Ideally, you will need to enter your property at least four weeks prior to the auction commencing to allow us to enter your property into the Online Catalogue and also to allow sufficient time to market the property effectively. 3. What do we Charge? Auction Entry Fee - 0 This includes entry into the auction, all of the marketing costs and campaigns. Auction Sale Fee 0% There is no catch; we simply have an exclusive offer for our online property auction. Take advantage now! Buyers Premium Buyers will be required to pay a 2% premium on all purchases. 4. Legal Documents You will need to instruct a solicitor who will prepare your legal pack and assist in preparing your contract of sale. If you do not have a solicitor, please see our recommended panel. Rest assured John Pye Auctions will liaise with your solicitor to ensure the legal pack is readily available prior to the auction commencing. 5. Proof of Identity If we have not sold for you before then we will require proof of your identity before we can commence the marketing of your property. We will require two forms of identity, including photo ID such as a passport or driving licence and proof of your address such as a bank statement or utility bill (no more than three months old). 6. Guide Price We will recommend a guide price at the outset, which you will need to approve before we can commence the marketing of your property. We recommend a realistic guide price in order to attract buyers. This will promote competitive bidding, which will ultimately ensure the best value is achieved. We are as driven as you to sell your property by receiving a 2% buyer s premium.
7. Marketing your Property John Pye Auctions will undertake extensive and intensive marketing campaigns, incorporating: Online advertising on our own website johnpye.co.uk currently recording over 800,000 web hits monthly Detailed sales particulars including descriptions, floor plans, photographs and maps - The draft sales particulars will be sent to you for approval before we can use them E-marketing campaign to our database of over 140,000 registered bidders and buyers Online advertising through leading property websites including rightmove.com and/or propertylink.estatesgazette.com Online advertising through leading social media platforms Facebook, Twitter and LinkedIn Full telesales campaign to potentially interested parties Striking FOR SALE board outside the property PR & Advertisement in the local press Entry into our interactive online property auction catalogue All of the above will be undertaken free of charge. 8. Pre-Auction Services In addition to the above, we will also undertake the following on all of the properties we advertise: Accompanied viewings of the property block viewings or viewing by appointment Manage offers on the property prior, during and post auction Work with your solicitor to ensure the legal documents are ready at least 7 days before the auction Arrange for production of Energy Performance Certificate and Floor Plans, if necessary Provide property maintenance and security services through our inhouse maintenance and security teams, if required Work with solicitors to ensure the sale proceeds through to completion Take a break from the hassles of selling your house... 9.Pre-Auction Offers It is not uncommon to receive offers for properties prior to the auction commencing. You will be notified of any offers received together with our recommended action. If an offer is made prior to auction, it will only be withdrawn from the auction once contracts have been exchanged. Awaiting new image 10. Reserve Price Every property we sell will be subject to a reserve price. This is the minimum price the property will sell for through our online auction. It is important to set this at a realistic level. We will advise you as far as possible but ultimately the reserve price will be your decision. It will be discussed initially at our free auction appraisal and confirmed with you in the weeks leading up to the online auction and will form part of the contract. The reserve price will be kept confidential until the auction has finished. 10 11
JOHN PYE ONLINE PROPERTY AUCTIONS VALUATIONS AGENCY MAINTENANCE & SECURITY Reaching buyers at work, rest and play... 12 13
The Online Auction Information for a smooth transaction All information regarding the online auction, properties for sale and the Online Catalogue can be found on our website www.johnpye.co.uk/property 1. The Online Auction The online auction will run for a period of two days, whereby bids can be placed remotely. All lots will be subject to our three minute rule, whereby bidding will not end until the best price is achieved. 2. The Fall of the Online Gavel The bidding will end on a specified day. Once the time of the lot ends, the online gavel will effectively fall and by law the bidder has won the lot. The successful purchaser will be required to provide their solicitors details and will be asked to make a buyer's payment of 10% of the purchase price (which includes the buyer s premium and is subject to a minimum of 5,000) that is payable within 24 hours of the auction finishing. The identification of the purchaser will have already been confirmed before their bid is accepted. 3. Transfer to Solicitors and Completion Once the deposit payment has been made, all parties details and the details of the paid deposit will be entered into the Memorandum of Sale and circulated to the buyer s and seller s solicitors. The remaining deposit proceeds after fees have been taken will be passed to your solicitor within 10 working days. Completion of the property will occur within 20 working days from the fall of the virtual hammer. 4. Unsold Lots If the reserve price is not met we will retain the property for a further three weeks. During this period we will approach all interested parties to try and find a buyer. We will inform interested parties of the reserve price and any offers received will be submitted to you. Any accepted offers will subject to the same auction buying process and 20 working day completion from exchange of contracts. Contact us now to take advantage of our exclusive FREE nil cost offer. Complete our online property auction request form or contact our experienced property team on 0115 970 6060. 14