LATEST LOCKDOWN: We’re still open and operating safely
Through the modern method of auction, Reeds Rains can sell your property quickly and securely at a price that's right for you, with 0% fees.
Auction is becoming an increasingly popular way to sell property, with Modern Method of Auction potential buyers can bid on your property 24/7 and with extended but fixed timescales of 56 days, Modern Method also attracts residential buyers, increasing the chances of selling your home and at the right price.
To get started with selling your property, book a valuation and we will then advise you on the best option to take to sell your home.
Whether that is selling online by the modern method of auction at 0% agency fees or the more traditional in house auction process at variable fees, Reeds Rains will be with you every step of the way to get you the best possible price for your property.
Check our frequently asked questions to find out more about the process of selling online through auction.
There are two components needed to maximise the chances of selling through auction; a motivated and realistic seller, and secondly, great marketing exposure. Our marketing strategy will guarantee you the fairest price in the current market for your property. If you decide to explore the auction route further, a member of our Auction Department will discuss the most effective pricing strategy to maximise interest on your property.
No, all properties are sold with an undisclosed minimum reserve price (agreed with the seller). The only price the public sees is the starting and actual bids; the reserve price remains confidential. Once the reserve price has been met and the auction is closed the sale will proceed. A Reservation Fee/Deposit is then taken. If you choose to pay no sales fees, the Reservation Fee will not form part payment of the purchase price but will be paid in addition to cover the costs of the process.
Yes. You can accept a bid to sell the property before the auction has finished. By law we are duty bound to put any offer forward to you. It will then be up to you to decide if you want to consider the offer and take the property out of the auction early.
Depending on which auction option you select this can be decided by you but will generally be between 28 – 56 days.
The law requires that any offer made to purchase your property must be passed on by the agent unless you have said that offers of a particular type are not to be advised to you. If the prospective buyer does not agree to pay the fee, the agent should advise you accordingly and seek your instructions.
This will depend on the specifics of your individual contract(s) with the agent. The agent should explain this clearly to you before you sign anything. The buyer has entered into an agreement to pay the fee so it is for the agent to pursue the buyer, but the agent must make clear to you what will happen in such circumstances
Perhaps your personal circumstances have recently changed, you’ve experienced a disappointing fall-through with Private Treaty or it could be that your property has been on the market for some time with little interest. Auction can be a good alternative to Private Treaty if you are a motivated seller as it offers speed, security and the achievement of a fair selling price.
To maximise the chances of selling through auction it’s important that you’re motivated to sell and that your property has great marketing exposure. Our marketing strategy will help you achieve a fair price in the current market for your property. We will discuss the most effective pricing strategy to maximise interest on your property.
With auction the seller sets a Reserve Price, this is the minimum amount you will receive for your property. Our pricing strategy is designed to drive interest, which in turn can help encourage competitive bidding which is more likely to drive up the purchase price.
Yes, you can accept a bid before the auction has finished. We are legally obliged to put all bids forward to you. It will then be up to you to decide if you wish to accept it and conclude the auction early.
By law, Estate Agents and Auctioneers are required to complete identification checks on all parties involved in a property transaction. The process is nothing to worry about and will involve us carrying out an electronic search through LexisNexis® and asking you some identification authentication questions. We may also require you to provide identification documents such as a driver’s license, passport or utility bills for proof of address.