The Process

Your Guide to selling at auction from Savills.

Step 1 - How suitable is my property for auction?

Most types of property are suitable for auction depending on a realistic reserve price being agreed, however some types of property are more suitable for auction than others. For instance a property that is in need of modernisation and refurbishment will be particularly popular as a large number of builders and developers tend to attend auctions and therefore might acheive a better price than sale via private treaty. Auctions are also a good way of selling properties which are difficult to value, as the property is sold in an open forum no dispute about the transparency and exposure.    

Step 2 - Contact

For advice on selling a property please contact a member of the relevant auction team via telephone or email. In order to give the best possible advice please be able to provide us with the address and description of the property and any other details you feel to be important. We will provide you with a no obligation appraisal on whether you property is suitable for sale by auction or an alternative method. If your property is suitable for auction and a reserve/guide price has been agreed we will arrange an appointment to inspect the property.

Step 3 - Marketing

We aim to market your property to the maxuim possible audience, we will prepare details for the property and distruibute both hard copies and an email version of the auction catalogue. We also compund interest prior to it being offered for sale by a comprehensive range of local and national advertising.

Step 4 - The Auction and After

On the fall of the Auctioneers gavel a binding contact is effected. There can be no change or negotation. The purchaser will be asked to produce identification and a deposit for 10% of the purchase price.  Completion will usually take place 20 working days after the auction at which time the remaining balance must be paid.