Thank you for considering selling your home via MAC Property Auctions in association with selected Martin & Co and Whitegates offices. We have been selling homes successfully by auction since 2013; last year we achieved over 140 completions from auctions. Selling your home via auction has some distinct differences from the normal way of selling your home but also has its advantages. Should you have any further questions please contact us.
Is my home suitable for sale by auction?
Most homes are suitable for sale by auction although your local representative will inform you if they believe there is another route for sale that will better suit you and your home. We have sold all types of properties via auction but the most common are properties in need of updating or refurbishment, properties with tenants – preventing you having to evict your tenant before sale, HMO’s and blocks of flats, derelict, disused and those with the potential for conversion, land - with or without planning permission, mixed use properties such as shops with flats over as well as blocks of garages. Unique properties are also likely to achieve the best price selling via auction.
Our buyers include cash purchasers looking to ‘do up’ homes, buy-to-let investors buying homes both with and without current tenants, first time buyers with finance in place buying their first home and large builders looking for plots or large buildings to convert into flats. Indeed, the only thing that is common to all of our buyers is that they are able to proceed with the purchase when they bid.
What is the Auction Catalogue?
This lists the properties for sale in the auction and any other relevant information. This is finalised approximately three weeks before the date of the auction to allow for final marketing of all properties within the auction including distribution to potential investors countrywide.
What is the starting bid & reserve price?
The starting bid (advertised price) is the price at which bidding will start or a figure at which offers over are considered. A reserve price, usually higher, is agreed with you and not made public. This is the minimum amount your house can be sold for, although you can grant the auctioneer discretion. If the reserve price is not achieved then your house is not sold; instead we will converse with unsuccessful bidders and other purchasers to try to achieve a sale at or above the reserve price. You also have the option to allow the auctioneer discretion, that is, should the highest bid be slightly less than the reserve price, you allow your property to be sold.
What is the Legal Pack?
This is a necessary group of paperwork that buyers at auctions need to have access to in order to be able to proceed with bidding. It includes land registry entries, copies of leases and tenancy agreements and also local searches or search indemnity guarantees. The average cost of these is usually comparable to the cost of conveyancing when selling ‘normally’. Your solicitor should be instructed at the same time as you instruct us, as well as the legal pack, you will also require an EPC for your home.
Can I sell my home before the auction?
Our auction marketing is designed to produce an increase in activity from buyers able to proceed to completion, therefore it is inevitable that offers will occur. All offers will be qualified, your buyer will have viewed your legal pack and any sales will be under auction conditions, therefore we suggest that you do not withdraw your property from the auction unless exchange of contracts has occurred. Please be aware that should your property be sold via auction then that sale will be final.
Where is the auction held?
Our auctions are currently held at The Blues Club at The Martin & Co Arena, North Street, Gainsborough. DN21 2QW. Centrally located for all currently affiliated office, for those buyers unable to attend on the night, there are other easy ways for purchasers to buy.
How do I enter my property?
Please contact your local branch listed under 'contact' who will arrange to visit you at your home to complete the necessary paperwork and ensure that everything required for marketing is undertaken. Alternatively please contact MAC Property Auctions on 01427 611833 and we can arrange for this to occur.