Selling at Auction.
At Uneek Homes we are streamlining the process of selling at auction by offering a totally transparent sales process.
Why Uneek Homes and not another Auction House?
Uneek Homes are established buyers and sellers of properties, our team here have extensive experience within all aspects of the property sector. We constantly see Sellers charged fees to sell their property and tied in to lengthy contracts where they are required to pay upfront. Buyers penalised for purchasing at auction with extortionate buyers premiums then substantial hidden costs and charges. We didn’t like how the others did it so we created our own.
Sellers
Totally free to sell your property, with a bespoke service tailored to your individual requirements. A fully personal service that keeps you updated throughout the entire process to obtain the very best price for your property.
Buyers
One Buyers Premium – that’s it. No Contract Doc Charges, no admin fees and certainly no hidden charges. This allows buyers to be more flexible with their offers and able to increase the price they can pay as they are able to make an informed decision with the transparency of the fees.
Q. I have decided to sell my property why should I choose auction over the standard private treaty sale?
Cost
The entire auction selling process with Uneek Auctions is 100% Free, No sales commission, no fees, no marketing or listing fees. Even the cost of your legal pack is covered when selling with us.
Unlike other auctioneers we do not penalise the Buyer with high auction costs. With low Buyers Premiums and no hidden extra costs to the Buyers this provides more money available to bid/ Offer for your property.
Speed
The entire process from the winning bid/ acceptance of an offer to completion of the sale is 28 days. This can often be sooner if suitable for both the Buyer and Seller
Best Price
When we prepare a property for auction, we carry out extensive marketing, with high quality photographs and video tours. This generates a high interest in the property with people eager to register and bid.
The atmosphere created at the auction can be extremely exciting and the process of competitive bidding will help to achieve best price on the day.
Transparency
A property auction sale is totally transparent and provides the seller with the assurance that the best possible price has been achieved in open competition
Certainty of Sale
Selling at auction/ under auction terms offers an exceptional degree of certainty. A legal binding contract is formed committing the buyer. And no further negotiation is allowed. A non- refundable deposit is payable which the Buyer will forfeit to the Seller in the event that the Buyer does not complete on the sale.
Acceptance of Condition
Some properties will not be suitable for private treaty sales due to condition/ covenants etc however auction offers properties In an “as is” condition. It is up to buyers to fully read the legal pack and the terms and conditions of sale.
Q. How does the Selling Process Work?
1. Appraisal
Our initial consultation offers a no obligation appraisal. We will advise you whether a sale by auction is the best way to achieve the highest price. If so, an estimated sale price and recommended reserve price will be provided.
2. Guide Prices
We will agree a guide price with you which will reflect your minimum acceptable sale price. We will endeavour never to mislead our buyers by quoting a guide price that is lower than the agreed reserve price.
3. Terms
After our initial appraisal we will agree with you our terms and conditions. This will form your Sellers Agreement.
4. Proof of Identity
Under Anti Money Laundering Regulations, we shall require proof of your identity and your address before we can market your property. If you are representing the seller, these checks will also have to be made on the seller.
5. Inspection
Once we have been formally instructed, the property will be inspected by one of our valuers, measurements will be taken and the property will be photographed. Draft sales particulars will then be sent to you for approval.
6. Marketing
Every property listed for sale with Uneek Auctions benefits from extensive marketing campaigns.
Online catalogue - We send regular email alerts to Investors and potential bidders who are registered on our website to receive details of our online catalogues.
Website - Our website offers many features to buyers. These include search facilities, personalised Watchlists, remote bidding options and live streaming of the auction.
Portals - We list suitable properties on the major property search portals
Advertising - We run extensive online advertising campaigns for each auction and selected individual lots.. We will erect "For Sale" Boards at each property.
Targeted Marketing - Alongside this broad marketing, we target individuals who have previously expressed an interest in similar properties, as well as adjacent occupiers, local agents, local developers, builders and property companies.
7. Reporting
During the marketing period, all interest and enquiries are logged. We maintain close contact with all serious buyers and record the number of enquiries made. This allows us to advise you of the strength of interest in your property, as well as reporting any price indications or offers made prior to sale.
8. Online Documents
Our online legal system deals with requests for documents. We will keep you advised of the number of legal packs downloaded by prospective bidders during the course of the marketing.
9. Reserve Price
Two or three days before the auction, we shall advise and agree a reserve price with you in the light of the feedback received during the marketing campaign. If necessary, the guide price or guide range may also need to be adjusted at this point.
10. Auction Day
Binding Contracts - On the fall of the auctioneer’s hammer there is a binding contract and the purchaser is legally obliged to complete the purchase. A 10% deposit is paid (subject to a minimum of £5000) A buyer’s fee is also payable.
Buyer checks - Under the Anti-Money Laundering Regulations, we carry out full checks on all buyers and bidders before the auction.
If your property does not sell on the day - In the less likely event of any lot remaining unsold,. We will contact all previously interested parties and invite best bids. In our experience sales are more likely to be agreed immediately following the sale, when post-auction interest is at its strongest.
11. Completion
Once the property has sold, our standard conditions require for completion to take place within 28days. This may be varied by your solicitor in the Special Conditions of Sale.
