Town & Country provide a unique approach using a method called a Buyer’s Premium. The purchaser is responsible to pay the Buyer’s Premium (commission) for the sale of the property.
Competition is good, gathering all potential purchasers together in the same place at the same time creates this, so you can be rest assured the price achieved is the best you could possibly obtain by private treaty.
Once a pre-auction offer is accepted or the hammer falls you have exchanged contracts at the agreed price so there is no re-negotiating to take survey findings into account and no gazundering. (A legal pack is required for all potential purchasers to review prior to committing to purchasing a property).
Once the hammer falls your buyer is legally committed to purchase and cannot change their mind without the penalty of losing their deposit.
A pre auction offer or the auction hammer falling on the designated lot commits the purchaser to complete the sale within 28 days unless agreed otherwise. This timescale is legal and binding. Clients are attracted to the promptness of a swift completion of a sale.
In the weeks approaching the auction Town & Country advertise weekly in regional newspapers and property supplements. Each property will also enjoy maximum exposure being displayed on their website and Rightmove 24 hours a day, 7 days a week, 52 weeks a year.
Town & Country provide in room auctions and online auctions across the UK and Ireland throughout the calendar year.
A reserve price is the price stipulated as the lowest acceptable by the vendor. The figure is confidential between the vendor and the auctioneer. The guide price may not always be the same as the reserve price. The guide is an indication given by the Auctioneer. Where the guide price is a bracket figure, the reserve cannot exceed the top end of the bracket price. If the guide price is a single figure, then the reserve can be up to 10% in excess of this.
An unconditional auction is what most people understand an auction to be i.e. the property is sold on the fall of a hammer. At Town & Country Property Auctions the conditional auction gives both parties 28 days (unless otherwise agreed) to exchange contracts on the property following the fall of the hammer, providing sellers and buyers with a fixed time scale for the sale.
All of Town & Country legal packs are available to be downloaded via their website.
There are many different types of property that sell well at Auction, and if you have one that falls into any of these categories you should consider the Auction route.
Properties in need of updating make ideal Auction Lots. They are in great demand from refurbishment specialists and private buyers, keen to undertake a project for their own occupation or for resale. They also appeal to buy-to-let investors who carry out the improvements then retain the properties as part of a property portfolio.
Residential houses and flats with tenants in residence sell well at Auction. If the best buyer for your property is another landlord, and it usually will be, auction is the right route. We would encourage investors and landlords to bid competitively, you won’t need to serve notice on your tenants, and rental income continues to be received right up to legal completion.
Houses in multiple occupation and blocks of flats are regularly sold at auction as investments. Here it is the rent level that determines the sale price, just as much as the building itself. Sellers will benefit from the high marketing profile and competitive bidding arena offered by Town and Country Property Auctions, plus the certainty of a sale when the hammer comes down.
Derelict or disused farm buildings, empty commercial premises, buildings with potential for conversion or change of use can all sell well at Auction. In some locations a change to residential use can significantly add to the value of a property, in other situations there may be space for additional dwellings or to substantially enlarge the property. Auction is regularly chosen as the effective channel for such disposals.
There is no better way of ensuring that a seller achieves the best price for a building plot or parcel of development land than to offer it for sale by Auction. Builders will be able to consult with architects and planners in readiness to bid up to their maximum in the Auction room. The trade is often surprised by the high prices achieved for land sales in the Auction room, which is great news for the sellers.
Properties that have twin uses or a variety of potential future uses are ideal for sale by Auction. Retail shops with accommodation above appeal to investors as well as owner-occupiers. Further conversion work can often be undertaken and the property tailored to suit the purchaser’s special requirements.
Retail shops, offices, industrial units, garage blocks and parking areas. An ever increasing number of commercial investments are being sold by Town & Country Property Auctions. It doesn’t matter whether they are vacant or tenanted, with lease renewal soon needed or with a long way to run. They have a large number of investor clients who will consider all types of commercial investment.
There are always some rare entries, sought after property and prime locations that need to be sold in a competitive bidding environment. Unexpectedly high prices have regularly been achieved by this route, resulting in an outcome that cannot be challenged by any unsuccessful bidder.
Town & Country have sold paddocks, meadows, fields, moorings, city amenity land and also other unusual land parcels. If its property or land that is surplus to requirements, the likelihood is that they could find a buyer at Auction. If it has a value, and is worth marketing, it is worth considering selling by Auction.
Town & Country provide a unique approach using a method called a Buyer’s Premium. The purchaser is responsible to pay the Buyer’s Premium (commission) for the sale of the property. The only cost you will occur is from a solicitor for preparation of the legal pack, they have a panel of solicitors able to provide No sale no fee legal packs.
Three reasons: Maximum price, speed and security.
Yes. Selling at auction always means you will get the true value of any property. Yes the buyer is paying your fees but that does NOT mean you will get less for your property, you are simply saving a sales fee.
Everything and anything. Town & Country have sold terraced, bungalows, unique properties, family detached houses, penthouse apartments, commercial units, businesses, new build properties and plots on behalf of builders.
Yes, you have complete control when setting the reserve price.
Everyone and anyone can, especially with Town & Country's innovative ‘Conditional Auction.’ This has been devised to aim specifically at the residential buyers who may require a mortgage, so they do not aim solely for cash buyers. Town & Country do not exclude any buyer who is in a proceedable position.
Yes. Once accepted, a deposit is taken.
You can NEVER under sell at auction. The trick is setting an aggressive start bid to generate multiple viewings over a set time span. Then, at auction, purchasers bid against each other either in person by proxy, phone, or internet.
Because of job relocation, emigration, matrimonial issues, death, outgrown the house, or simple frustration with the open market. Selling at auction maximises your price and offers speed and security. Anyone and everyone can sell at auction.
Anyone who wants to reach the largest audience in the shortest time to achieve the best price. Vacant property rates make commercial property a significant source of business now.
By agreement with the seller, a reserve is set which can be altered only with the seller’s consent.
Town & Country will make arrangements with local agents for access if necessary or conduct open days and viewings themselves, as every property and vendor is different and should be treated as such.
Town & Country intend to use PR as much as advertising. They work in partnership and advertise with selected publications that carry press releases about us and our properties. Town & Country do not waste money on needless confetti announcements, preferring to target specific key influences and send them relevant information, over the internet and by catalogue.