Property Auctions

Why sell at auction?
This gives our vendors another avenue to promote their property to serious buyers such as property investors and first time buyers who attend auctions
Ideal property/candidates for the Auction include:
Sellers requiring a fast sale and completion.
Properties with common defects: short leases, incomplete titles, structural problems, construction types.
Properties which are difficult to finance such as High Rises and flats above commercial property.
Rented property

If you are interested in listing your property in the forthcoming Auction the following provisos apply: ensure that you would be in a position to exchange contracts with the successful bidder, on the day of the Auction and be in a position to complete / move out up to 28 days later.
Selling rented property at auction
If your property is let the tenant can remain in place until completion, enabling you to receive rent right up until completion. The property can be sold with an ongoing tenancy, making it attractive to a buy-to-let investor.
How it works
To register for the Auction, first we would need to discuss your property with the Auctioneers and suggest a ‘guide price’ to you. The ‘guide price’ is set at a level which attracts the viewers to the property and encourages bids at the Auction.
We would also discuss a ‘reserve price’ with you. The ‘reserve price’ is the lowest price which you authorise the Auctioneers to sell / exchange at. The Auctioneers are bound to achieve the highest price for you and they maintain the bidding to the highest level. They will only ‘sell’ if the bid meets or exceeds the ‘reserve price.’
ludlowthompson will organise the viewings on the property prior to the Auction and supply the buyers with the sales particulars in the usual way. You would still have the benefit of negotiators phoning out the property and expansive web advertising through ludlowthompson and various web portal sites.
How to go ahead and list with the Auction
If we agree that your property is suitable for Auction, the next step is to register for the Auction and create an advertisement and ‘lot number’ in the Auction catalogue. The fee for this reservation is just £250.00 plus VAT per auction. This is a non-refundable fee.
There is a No-Sale No-Fee policy at Auction, and the cost will be 2% plus VAT of the eventual sale price of the property, subject to a minimum fee. The fee for selling at Auction becomes due at exchange and payable by Completion.
To find out more or auction property contact:

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Category: Property News