Clee Tompkinson Francis Property Auctioneers are proud to have been serving the local community since 1972, providing advice on the most suitable way to sell property to suit an individual’s needs.
Customer and client care are of the upmost importance in everything we do and we are governed by the RICS to the highest standards.
Over the past few years, more and more people have become aware of online auction and the benefits and convenience it brings, and we at Clee Tompkinson Francis property auctioneers have embraced this change.
We have partnered with the largest online property auctioneer in the UK; iamsold, and are able to offer both Modern Method of Auction and Traditional Auction, online.
In partnership with iamsold and with the additional flexibility Modern Method of Auction offers, we are able to attract those buying with a mortgage, as well as seasoned property investors buying with cash, to maximise interest and offers on your property. With everyone committed to the security and speed of the sale, for complete peace of mind.
A speedy sale - With Private Treaty sales taking 100+ on average to complete, auction is a much quicker alternative. Modern Method of Auction takes just 56- days* from receipt of draft contracts, and Traditional Auction will be finalised in just 28 days.
Secure transactions - Once the sale is agreed, the buyer pays a Reservation Fee. This gives the seller peace of mind that their buyer is committed to the purchase and means there's no renegotiating. This leads to auction having a 95% completion rate vs 70% with Private Treaty Sales.
Competitive offers - The transparency of iamsold auctions means buyers can easily see each other’s bids, encouraging interested parties to bid more competitively to win the property — boosting your final selling price!
No selling fee - Selling fees are typically paid by the buyer. This makes it a lower- cost alternative to Private Treaty (or 'open market') transactions where, as the seller, you will often pay your Estate Agent a commission.
This is our most popular auction method as it provides the speed, transparency and security of Traditional Auction but exchange and completion take place within 56 days from receipt of draft contract.* This extended timescale allows more interest *based on standard property types as it enables mortgage buyers to participate. You may have also heard this method referred to as “Conditional” auction.
Modern Method of Auction would be best for you if:
Exchange takes place as soon as the auction ends with the buyer paying a non- refundable Reservation Fee and 10% deposit. They must complete the purchase within 28 days. This is the most secure and fastest method of sale but can limit interest to cash buyers. You may have also heard this method referred to as “Unconditional” auction.
Traditional Auction would be best for you if:
Once you have decided to sell at auction, we will call you to discuss pricing and the undisclosed reserve price, this is the price that we will not sell below.
We will then arrange for the property details and an Auction Pack to be produced (you can instruct your solicitor to produce this if you prefer). We begin to advertise your property whilst the Auction Pack is being prepared to generate as much exposure, interest and as many viewings as possible.
Once the pack is completed the property can go to auction and bidding can begin. Your Auction Specialist will agree an appropriate start date with you, and best auction duration depending on the level of interest.
Interested parties who have registered can bid on the property. The auction will end when the auction timer runs out and a sale will be agreed if a bid is received on or above your agreed Reserve Price.
Depending on the method of auction you have chosen, the buyer will have either 28 or 56 days from receipt of a draft contract from the buyer’s Solicitor, to complete the purchase. In both cases the buyer will have paid a fee to reserve the property, so they are committed to the purchase.
Our expert Completions team, will help to progress the sale, keeping you updated every step of the way.
If you would like to discuss whether auction is right for you, call us on: 01792 475332