Our initial consultation offers a no obligation appraisal. We will advise you whether a sale by auction is the best way to achieve the highest price. If so, an estimated sale price and recommended reserve price will be provided.
We will agree a guide price with you which will reflect your minimum acceptable sale price. We will endeavour never to mislead our buyers by quoting a guide price that is lower than the agreed reserve price.
After our initial appraisal we will agree with you our terms and conditions of appointment, including marketing fees and commission as appropriate.
Seller checks - Under Anti Money Laundering Regulations, we shall require proof of your identity and your address before we can market your property.
Buyer checks - Under the Anti-Money Laundering Regulations, all buyers and bidders are required to register with us either at the auction or prior at our offices providing proof of identity and address.
Once we have been instructed, the property will be re-inspected by one of our auction team, measurements will be taken where appropriate and the property will be photographed and floor plans drawn up.
Draft sales particulars will then be sent to you for approval. Your solicitor will be asked to prepare a legal pack, which will be made available on our website and in our office during the marketing period.
Every property in our auction catalogue benefits from wide exposure through intensive marketing campaigns.
Online catalogue - We send regular email alerts to our potential bidders who are registered on our data base and who will receive details of our online catalogues.
Website - Our website offers many features to buyers. These include search facilities as well as online legal packs.
Portals - We list all properties on the major property search portals as well as Bramleys.com
Advertising - We run extensive online advertising campaigns for each auction and selected individual lots. We also run printed adverts in key local and regional publications.
Printed catalogues - We distribute printed catalogues to selected prospective buyers.
During the marketing period, all interest and enquiries are logged. We maintain close contact with all serious buyers and record the number of enquiries made. This allows us to advise you of the strength of interest in your property, as well as reporting any price indications or offers made prior to sale.
Our online legal system deals with requests for documents. We will keep you advised of the number of legal packs downloaded by prospective bidders during the course of the marketing.
Two or three days before the auction, we shall advise and agree a reserve price with you in the light of the feedback received during the marketing campaign. The reserve will be within 10% of the guide price in order to comply with current legislation.
Well attended auctions – During the auction evening 100-150 people attend the sale room, creating the buzz and atmosphere crucial to a successful outcome. Buyers are also able to bid remotely, either by telephone or by proxy.
Binding Contracts - On the fall of the auctioneer’s hammer there is a binding contract and the purchaser is legally obliged to complete the purchase. A 10% deposit is paid to Bramleys and the buyer’s fee (£750 inc VAT) is also payable. The exchange of contracts will occur shortly after the fall of the hammer.
Once the property has sold, our standard terms require completion to take place 28 days after the auction. This may be varied by your solicitor in the Special Conditions of Sale.