Auction

Buying and Selling Property at Auction with Wards Property

Buying and Selling Property at Auction is Easier Than You Think

Participating in an auction is one of the fastest ways to secure your next property. With no risk of chains collapsing and the exchange occurring immediately when the hammer falls, you could be collecting the keys to your new home in no time. If you're looking to sell, auctions are an excellent way to achieve the best possible price and have the funds in your bank account swiftly.

Wards Property has teamed up with Auction House, the UK's leading property auction experts, to make buying and selling at auction more accessible. To find out how much your property could be worth at auction, contact our team for a free valuation.

Buying Property in Stoke on Trent, Newcastle-under-Lyme, Crewe, Leek, Stone, Stafford, and Cheshire

At Wards Property, we offer a wide selection of Auction properties across Stoke on Trent, Newcastle-under-Lyme, Crewe, Leek, Stone, Stafford, and Cheshire. Our knowledgeable team is dedicated to helping you find the perfect home or investment property. Whether you’re a first-time buyer or a seasoned investor, our extensive property listings and expert guidance will make the buying process straightforward and stress-free.

Selling Property in Stoke on Trent, Newcastle-under-Lyme, Crewe, Leek, Stone, Stafford, and Cheshire

Selling your property at Auction with Wards Property ensures a smooth and efficient experience. Our partnership with Auction House provides a platform to achieve the best possible price quickly. With our comprehensive marketing strategies and expert valuation services, we make selling your property a hassle-free process.

Price Information

*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees Information

*Please be aware there may be additional fees payable on top of the final sale price. These include, but are not limited to, administration charges, buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.

Our Guide to Buying at Auction

Wards Property: Your Partner for Property Auctions in Stoke on Trent, Newcastle-under-Lyme, Crewe, Leek, Stone, Stafford, and Cheshire

Buying a property at auction is the fastest way to secure your next home or investment. However, the fixed timescales mean you must be diligent and well-prepared. Here’s our comprehensive guide to help you navigate the auction process successfully.

1. Familiarise Yourself with the Auction Process

Research and Registration

• Find a Property: Browse our listings for properties in Stoke on Trent, Newcastle-under-Lyme, Crewe, Leek, Stone, Stafford, and Cheshire.
• Read Descriptions: Carefully read the full property description, noting any additional fees.
• Register for Legal Pack: Sign up for the legal pack and consult with a solicitor to review the documents. Once you win the bid, there’s no backing out.

View the Property

• Attend Open Days: Join open house viewings to inspect the property before auction day.

Arrange a Survey

• Professional Inspection: If you're using a mortgage or concerned about the property’s condition, schedule a professional survey.

2. Prepare Your Finances

Deposit and Additional Fees

• Have Funds Ready: Ensure you have a 10% deposit and any additional fees ready as outlined in the property details.
• Final Payment: The remaining balance is typically due 28 days after the auction.

3. Plan Your Bidding Strategy

Set a Maximum Bid

• Budget Wisely: Determine your maximum bid, considering all costs like conveyancing, stamp duty, and auction fees. Stick to this limit to avoid overbidding.

4. Auction Day

Check the Addendum List

• Stay Updated: Review any last-minute changes, updates, or property withdrawals on the addendum list.

Bidding

• Make Your Bid Clear: Ensure the auctioneer sees your bid by clearly raising your hand, catalogue, or paddle. Auction staff are available to assist with any questions.

5. Winning the Bid

Immediate Steps

• Deposit and Fees: Pay your deposit and any additional fees immediately.
• Provide ID: Submit copies of your photographic ID (e.g., driving licence or passport) and proof of address (e.g., utility bill or bank statement from the past 3 months).
• Sign Memorandum of Sale: Complete the necessary paperwork.

Post-Auction

Solicitor Engagement: Pass all documents to your solicitor to begin the completion process.

6. Completion and Moving In

Legal Completion

• Final Steps: Typically 28 days post-auction, complete the legal process.
• Collect Keys: Pick up the keys from the auction team and move into your new property.

By following this guide, you’ll be well-prepared to participate in property auctions with Wards Property. Our partnership with Auction House ensures a seamless experience for buyers in Stoke on Trent, Newcastle-under-Lyme, Crewe, Leek, Stone, Stafford, and Cheshire. Happy bidding!

Our Guide to Selling at Auction with Wards Property

Partnering with Auction House for Property Sales in Stoke on Trent, Newcastle-under-Lyme, Crewe, Leek, Stone, Stafford, and Cheshire

Selling your property at auction can be the quickest and easiest way to secure a sale, especially if your property needs renovation, is tenanted, commercial, or land. Auctions can also achieve a higher sale price than expected. Here’s our comprehensive guide to selling your property at auction.

1. Assessing Suitability for Auction

Initial Consultation

• Contact Our Team: Reach out to our team for advice on whether your property is suitable for auction. If it is, we will connect you with our auctions team.

Free Valuation and Advice

• Property Valuation: The auctions team will visit your property to provide a free, no-obligation valuation and offer advice on achievable prices and the best marketing strategies.

2. Preparing for Auction

Signing the Agreement

• Auction Agency Agreement: If you decide to proceed, sign the auction agency agreement to start the process.

Paperwork Preparation

• Documentation: The auctions team will prepare all necessary paperwork, including the Energy Performance Certificate (EPC), local searches, and reports. They will also coordinate with your solicitor to prepare the legal pack.

3. Marketing Your Property

Online Listings

• Wide Exposure: Your property will be marketed online with detailed descriptions, photos, and auction process information. Listings will appear on the wardsproperty.co.uk and Auction House websites, On The Market Rightmove, Zoopla, and a national mailing list of auction buyers.

Open House Viewings

• Viewings: The auctions team will host multiple open house viewings, allowing potential buyers to inspect the property and ask questions, generating interest for competitive bidding.

4. Setting the Reserve Price

Pre-Auction Consultation

• Reserve Price Discussion: A few days before the auction, the auctioneer will discuss the reserve price with you. This is the minimum price the property can sell for. They will provide insights based on interest levels, offers, and legal pack downloads.

5. Auction Day

The Auction Process

• Property Lot: Your property will be presented in lot order. Competitive bidding will hopefully result in numerous bidders vying for your property. Once the gavel falls, the sale is exchanged.

Post-Auction

• Completion: The auctions team will hand over to your solicitor to finalise the sale. You will have 28 days to move out and hand over any remaining keys to the auctions team.

6. Final Steps

Completion and Payment

• Moving Out: Arrange to move out any belongings before the completion date.
• Final Handover: Provide all keys to the auctions team and wait for your solicitor to transfer the sale proceeds to your account.

Selling your property at auction with Wards Property and Auction House offers a streamlined and effective way to secure a quick sale. Our team is here to guide you through each step, ensuring a smooth and successful auction experience.