A guide to selling by auction
“Let us take the stress out of selling. With the right property, you could have a signed contract a month after marketing your home and achieve the top price” |
 WE ARE PLEASED TO OUTLINE OUR FULL RANGE OF SERVICES
INTRODUCTION
Crank Peach & Company is an independent estate agency, owned and operated entirely by the partners Paul Crank FNAEA and Alex Peach, dedicated to providing the highest standards of customer care within this highly competitive industry.
Formed only in June 2003, the firm has already demonstrated its ability to sell homes in healthy numbers, throughout the High Lane, Disley and High Peak areas, gaining an enviable reputation for its professionalism and high quality marketing. Much of the business has been generated through kind and much appreciated recommendations from satisfied clients, and detailed testimonies are available to be read at our offices.
The firm offers a wide range of professional services, including the marketing of residential and commercial property by public auction. This leaflet sets out to explain how a property can become a subject for auction, the benefits of this method of sale and the procedures adopted to ensure the best possible market price is achieved.
THE AUCTIONEER
 Paul Crank is a Fellow of the National Association of Estate Agents, a highly respected professional body, and has approaching 30 years estate agency experience at every level in the industry. Having conducted many property auctions during the last 15 years with such respected names as J.R. Bridgford & Sons and Jordan Fishwick, Paul is keen to offer sales by auction as an alternative method of sale to private treaty and tender within the increasingly popular Cheshire/Derbyshire borders and throughout The High Peak.
“I believe there is often a lack of awareness on the part of home sellers that this method of sale might be available to them, or might suit the type of property they own and the timescale in which they want to sell. Futhermore it is seen as a “specialist skill” and whilst there are estate agents who claim to “specialise” in this field, not many local estate agents have suitably experienced or qualified personnel to provide the necessary advice on this important topic.”
PAUL A. CRANK FNAEA
ASSESSING THE SUITABLE AUCTION SUBJECT
Any property can be offered for sale by auction, but it is important to establish what priorities the seller has before establishing if this method is likely to be the best route to achieve a sale. The most likely candidates are:
- Properties in need of either partial or complete modernisation
- Outbuildings (such as barns, redundant farm or commercial buildings), with or without planning permission for conversion
- Redundant churches, schools, mills (with or without planning permission)
- Building plots, or potential building plots
- Grazing land with or without farm buildings
- Certain commercial properties, including shops, tenanted houses and lock-up garages
ACHIEVING THE BEST PRICE
The auctioneer is commissioned to achieve the best price for the seller by encouraging able and willing purchasers to compete to buy a property at public auction, following a proactive, comprehensive and effective programme of marketing, often lasting for no more than one month.
A sale by auction does not always guarantee that a better price is achieved that an alternative method of sale, such as informal tender, or private treaty, but if the subject is right and is likely to generate the sort of interest that might otherwise result in a“gazumping” situation, then this method will put the buyer “on the spot” and if the hammer should fall, this results in a binding contract between the seller and the purchaser, with a known completion, usually 28 days after the sale.
The benefits of a sale by public auction can be summarised as:
- The marketing period, though intensive, may not need to be longer than a month to a maximum of six weeks
- If enough interest can be generated, then competition between buyers will result in the best price being achieved on the day
- The sale is binding upon both seller and buyer at the drop of the hammer
- Contracts will be exchanged at the time of sale and a 10% deposit paid
- Completion will be on the predetermined date in the contract.
TYPICAL MARKETING PROGRAMME
Marketing is prepared in advance of a “release” date, so that auction posters, press and internet advertising, sales particulars, sale boards and view days all occur simultaneously and marketing would run for between four and six weeks, depending upon the need for exposure. Normally the property would be available for public viewing, attended by the agent, on two specific afternoons per week and at other times, by arrangement. Viewing can, if preferred, be by appointment only. A local, well known venue is selected for the
auction to take place, so that bidders know when and where to attend.
INITIATING ADVICE
You might be contemplating the sale of your own property or you may have been entrusted to sell on behalf of another, for example as an executor to an estate. We shall be pleased to arrange a meeting in confidence, without obligation or charge, at the property or in the office to run through the procedures and provide a pre market appraisal and initial marketing report. Your solicitors may already have recommended us to you and we shall be happy to provide copy reports.
SELLING FEES
Crank Peach & Company would be delighted to provide a competitive quotation for our auction services without obligation.
SERVICES PROVIDED BY CRANK PEACH & CO.
- Free pre-market appraisals including free detailed pre-marketing report
- Top quality sales particulars, digitally produced in-house within 24 hours of receiving instructions to market, including up to 7 colour photographs
- Colour press advertising over a wide selection of Cheshire and High Peak newspapers
- Dedicated web site www.crankpeach.co.uk updated several times daily
- Gold subscription to www.rightmove.co.uk updated daily, enabling full particulars, floor plans, aerial views and data maps to be downloaded
- Encore - the leading estate agency software package, enabling us to match and mail by SMS text message, to “walk” the buyer through your house room by room from the comfort of our office using a wide range of photographs
- Daily Browse Guide - a property guide is produced on a daily basis, complete with room sizes
- Daily contact with several companies relocating staff to the North West
- Accompanied viewings - available seven days a week
- Open 7 days a week
- Advice on the “buy to let” market
- Full Letting and Management service
- Sales by private treaty, auction and tender
- Formal valuation reports, eg: probate, matrimonial, capital gains tax, relocation etc
- Planning Applications and Advice
- Part exchange / chain breaking register
- We can recommend you to independent financial advisers, chartered surveyors and solicitors
- Provide levels of feedback and constructive advice rarely found through local competing estate agents
- Advice and marketing of overseas homes, particularly in Florida
- Members of The National Association of Estate Agents (NAEA)
- Members of The National Approved Letting Scheme (NALS)
- Bronze winners of The Estate Agent of The Year Awards 2004 - North West category
- Gold winners of the NAES Awards 2005 (North West Region)
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Crank Peach contact details |
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Crank Peach & Company
Head Office
14 Market Street
Disley
Stockport
Cheshire
SK12 2AA |
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| Click here for map & directions by Google Maps |
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| Telephone |
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| Within UK |
01663 766788 |
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| Fax |
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| Within UK |
01663 766722 |
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| Opening hours: |
Monday - Friday: 9.00am - 5.30pm
Saturday: 9.00am - 4.00pm
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Sunday: 1.00pm - 4.00pm
Bank Holidays: Usually 1.00pm - 4.00pm |
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