Online Auctions

This simple statement sums up why selling by online auction is proving so appealing to sellers. An auction can provide a great alternative to the traditional method of selling by private treaty as it can avoid delays and quickly secure a buyer at a great price for appropriate properties.

The online auction process provides complete transparency – a full legal pack is prepared before the auction can commence, thus disclosing all legal aspects of the sale to the buyer and their advisors in one bundle. It only remains for the buyer to inspect the property, take advice from a builder and other specialists as needed, and then come to an informed decision about making a purchase. The auction will run for typically four weeks, at the end of which both the buyer and seller will achieve certainty when the auction ends and the clock goes to zero once the reserve has been met. No change of mind. No additional legal fees following aborted sales. No frustrating delays.

As a result, selling property by online auction goes from strength to strength, with transaction numbers up by 30% year on year, a remarkable growth area for Fisher German. As a business, we started to offer online auctions as a new service line before the Covid-19 pandemic, with rural, residential and commercial clients all seeing the benefit of this method of sale. It appeals to private sellers as well as public bodies and charitable institutions who need to be able to demonstrate that the best price has been achieved in the open market.

Some examples of recent successes include a very appealing block of land, about 2.60 acres in all, on the fringes of the village of Kelsall, which sold for £108,500 after heated bidding; 88 bids were placed and it sold for nearly 2.5 times the guide price of £45,500.

A growth area in the last year is commercial online auctions – our Knutsford office offered for sale an office block in Sandbach which attracted a lot of interest, finally selling for £526,500 after 81 bids, more than 1.5 times the guide price of £340,000.

Toby Gale-Hasleham, in our Chester Residential Agency team, was quick to realise the benefits to his clients of online auctions and is now one of our most successful online auction experts, recently selling an achingly pretty cottage with 3.29 acres in the Snowdonia National Park for £435,000.

And for the buyer, how does it work? When it comes to bidding, you can do so from the comfort of your own home sitting around the laptop with other family members and watch the bids being submitted on screen. As soon as the reserve is met, the screen tells you, meaning that any subsequent bids will reset the timer for five minutes allowing you plenty of time to discuss your next bid with those around you. When you’re waiting to see if you’ve placed the winning bid, five minutes can feel like an age! But if you are the successful buyer, when the timer goes to zero, that’s the exchange of contracts. This offers more certainty and security than the more common private treaty sale, where getting to exchange of contracts can sometimes be a long and fraught process, taking typically three to four months.

Online auctions offer the seller the chance to sell their property in a fast, transparent and certain manner – in this increasingly challenging market, that could be good to know. Turn to your local property professionals, Fisher German, to find out how online auctions can help you.

Land at Kelsall

Tarporley, Cheshire

A fantastic opportunity to purchase a land parcel of 2.6 acres on the fringes of the popular village of Kelsall, suitable for equestrian use or grazing

For further information...

If you are interested in finding out more about selling by online auction, please contact Tom Dennes, Head of Auctions on 07587 033061 or tom.dennes@fishergerman.co.uk

£ Guide price: £45,500 Sold price: £108,500

Commercial office building

Sandbach, Cheshire

A detached three storey office block, made up of 6 office suites, in the centre of the town

£ Guide price: £340,000 Sold price: £526,500

Welsh Farmhouse

Snowdonia National Park, Wales

A traditional Welsh stone farmhouse requiring renovation with outbuildings and set in 3.29 acres

£ Guide price: £400,000 Sold price: £435,000

A charming family home in a picturesque location

Ingleby, Derbyshire

• Reception hall, guest cloakroom

• Three reception rooms, conservatory

• Breakfast kitchen, utility room/pantry

• Master bedroom with en suite

• 4 further bedrooms, 2 bathrooms

£

Guide price – £925,000

Ashby de la Zouch 01530 410840

• Sitting room, garden room

• Farmhouse style kitchen

• Principal bedroom with en suite

• Two further bedrooms

• Outbuilding with workshop

• Manège, stable block, tack room

• Stone outbuilding potential to convert

• In all set in circa 10.24 acres

• Home office/games room, garaging

• Indoor swimming pool, outbuildings

• In all about 0.44 acres

A beautifully presented barn conversion with buildings and land

Morley, Derbyshire

£

Guide price – £1,000,000

Ashby de la Zouch 01530 410840

A superb Grade II Listed Georgian manor house

• Sitting room, dining room

• Kitchen, utility, study

• 6 bedrooms, 2 bathrooms

• Home office, extensive cellarage

• Attached 6 car garage and parking

• South facing gardens, enclosed rear courtyard

• Extends to approximately 5,205 sq ft

• In all about 0.51 acres