Selling by auction online: A guide for Sellers
Introducing Online Auctions Combining the most appealing elements of an estate agent sale with those of a property auction, Dedman Gray Auctions offer the best of both worlds when it comes to selling your property. Online Auction Bidding is a brand new concept in selling and buying property and land by conditional auction. The transactions are swift and carried out without the pressure they have a period of exclusivity to arrange their finances and conduct any necessary surveys with no risk of losing the property in the meantime. and very short time frames associated with a traditional auction. As a seller, you have complete peace of mind that your potential buyer s are serious about Prospective buyers love the Online bidding concept as it gives them the comfort completing the sale, having already paid for the exclusivity period. that if they are the winning bidder,
Seller s Guide How it Works 1 Contact us here at Dedman Gray Auctions, where we will be on hand to talk you through the process, discuss time frames and a reserve price for your property at auction. 2 You will then be sent all the relevant paperwork. Once this is signed and returned with your listing fee the online auction sale is ready to proceed. 3 Your property details will be loaded on to our website and the listing will go live. LIVE! 4 Your property will be featured across our special online bidding website and Rightmove
Seller s Guide How it Works 5 Prospective buyers register to bid via our website and we pre-authorise their payment details for the exclusivity fee; they are then free to browse and bid. 6 Bidding on your property will commence, the auction ending on the date and time agreed. Small extensions to the finishing time will be authorised if a last minute bid is made. 7 You and the winning bidder are notified of the sale via email. The fee for the exclusivity period is automatically taken from the winning bidder. 8 Dedman Gray Auctions will oversee the transaction through to the exchange of contracts and completion.
How the Process Works Dedman Gray Auctions are available to guide you through each stage of the process. We will advise you on setting a reserve price, bidding increments and the time frame for the auction to help you to determine whether Online Bidding is the most suitable method of sale for your property. Once you have chosen to proceed with Our Online Bidding sale and you have paid your listing fee, your property goes live on our website and bidding opens to registered bidders. We will market the property through all of our usual channels, exposing your property to 1000s of potential bidders! When this information has been verified they ll be allowed to view your property and bid. The online system allows you to track bidding on your property. You can log in at any time of the day to see how many bids have been made and what the current bid is. Time frames can be set to dictate how long Anyone who shows an interest in your you property. property will be informed of the Online Bidding process for bidding. Potential buyers are only allowed to bid once they have supplied their details and completed the online registration process.
The clever bit is that during the auction process, if a new bid is made within minutes of the auction closing, the system will automatically extend the auction closing time. This allows any other bidders to submit their increased bids, eliminating the sniping that is seen on some online auction sites and ensuring that you get the best price for your property. Once bidding has ended, and your reserve has been met we will automatically take the exclusivity fee from the winning bidder. This then buys them time to arrange their finance and any necessary surveys needed to complete the purchase. Solicitors for both parties can then be instructed and we will monitor the progress of the sale through to exchange and completion. Quick, easy and stress-free. However, should the sale not exchange within the agreed time frame, you then have the option of allowing the purchaser to buy more time. If you don t wish to continue you can walk away, approach another bidder or re-list your property.