Thinking of selling a Property at auction? Do not underestimate the importance of an effective auction pack

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Commercial Property Article

10 June, 2020

Selling a property at auction can provide a number of benefits including:

  • A quicker process than standard market selling;
  • The property can potentially reach an increased audience through the auction house's marketing, potentially resulting in greater buyer interest than standard market selling; and
  • It provides you with the certainty of a sale as the deposit is secured and exchange of contracts takes place on the same day as the auction.

In order to reap the potential benefits of selling at auction, preparation in the lead up to the auction is key. Part of this process includes preparing an auction pack which provides all the required information about the property you wish to sell. The better the information contained in the pack, the more confidence any potential buyer will have, and this would hopefully reflect positively on the amount they are willing to bid for the property.

Here at Forbes, we can assist you in preparing an effective auction pack which typically involves collating the following information:

  • Title documents: We will obtain the relevant Land Registry Official Copies and title plan for the property or, if the property is unregistered, assist in providing the auction house with copies of the relevant title deeds;
  • Contract: We will prepare the Special Conditions for the contract and incorporate any bespoke terms you wish to be part of the sale;
  • Property Information Questionnaire: We will assist you in filling out the Property Information Questionnaire form;
  • Searches: We can obtain the relevant search results for the property to include in the pack; and
  • Other relevant documents: We will inform you of any other relevant documentation that needs to be included within the auction pack, such as Energy Performance Certificates etc.

If you are looking to sell your property at auction and would like assistance in preparing an auction pack please contact a member of our team.

For more information contact Helen Marsh in our Commercial Property department via email or phone on 01254 224217. Alternatively send any question through to Forbes Solicitors via our online Contact Form.

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