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Buying and selling property can be one of the most stressful events an individual can face. The uncertainty for buyers over the acceptance of offers, gazumping, completion date etc and the headaches faced by vendors about buyers’ commitment, ability to complete or unreasonable demands make for horrifying stories.
Buying and selling property at auction or via auction+ can help both purchaser and vendor to avoid most of the pitfalls associated with property deals because both parties must be prepared to commit on the date of the auction. Auctions are a suitable method of buying or selling all sorts of properties including flats.
From the beginning of 2012 Maguire Jackson has run a regular series of monthly /bi monthlyauctions of selected Birmingham property at the Motorcycle Museum, Solihull or our at our Birmingham City Centre offices. Smaller auctions are being held in our Birmingham offices when smaller lot numbers need selling, & remove the constant need for a large room.
Working In collaboration with leading regional agents Robert Oulsnams , Hunters , Taylors, John Payne,Knight & Rennie,Maguire Jackson clients benefit from using the services of foremost auctioneer Charles Robinson to help vendors secure successful sales
The sales start at 6:30 pm and include commercial, residential stock sold through the Auction+ format
The sale will start at 4.0 pm and will include commercial, residential and further residential stock sold through the Auction+ format (see below)
Auction + is proving to be a very popular arrangement with buyers and is an established format for selling mainstream flats and other properties. Sometimes known as the ‘soft auction’, the buyer simply puts down £3500 on the day to contract a title insured document. The balance of the deposit is then paid through the instructed lawyers within 28 days and completion follows up to a month later. The buyer does, however, have a cooling off period of 28 days within which time they can serve a withdrawal notice on the vendor if for any reason they do not wish to proceed with the purchase. In this case the buyer will lose their initial deposit.
The environment is therefore less pressured but provides certainty for buyer and seller alike.
Auctions can offer certainty and a focus for selling. The market will determine the price through competitive bidding, avoiding the uncertainty that can occur when one or more valuers might be at variance on a suggested guide price.
Speed can be another positive factor when selling property at auction. Home.com states that the average UK residential property (flats, houses etc.) is on the market for 241 days, so the speedy solution provided by a sale at auction is highly effective.
The twin formats of auction and auction+ provide the buyer with the firm assurance that once the hammer falls, the property is theirs. Equally, there is no backing out, no gazumping, no intervention by agents and no need for conversations or further negotiations with the vendor. The process is simplicity itself
Maguire Jackson are acknowledged experts in the Birmingham property market, especially regarding commercial properties, Birmingham city centre flats and Birmingham properties in prime locations. Our expertise extends to our experience with our customers and there is no reason why your auction should not be an enjoyable occasion!
We’ve chosen the award-winning facilities provided by the Motorcycle Museum to ensure the auctions take place in comfortable, welcoming surroundings. It is easy to access with plenty of parking; just a few minutes from the NEC and Birmingham International Airport at junction 6 on the M42 it couldn’t be easier to get to by car from Birmingham, Solihull, Coventry and surrounding area.
If you are thinking about buying or selling a property at auction, why not come along to one of our events and see how it is done! It’s the best way to learn and feel at home in the atmosphere.
Please contact our office if you would like to meet our Auctioneer Charles Robinson and discuss the possibility of putting your property into one of our auctions and for Terms and conditions relating to our auction services.
Motorcycle Museum, Solihull
We do think another one will be sold post auction soon.