Auctioneers gavel

Selling Property at Auction


The auction process is transparent, cost effective and, depending on the property, may well be the best way to achieve the maximum price.

Our dedicated team of estate agents and auctioneers are experienced in the sale of a wide variety of property in the form of residential, agricultural, commercial, mixed use, land and development sites.

We aim to generate interest from two or more prospective buyers which encourages competitive bidding in the auction room on the day. Sometimes buyers can be so keen to acquire a property that they make an exceptional offer pre-auction. If we believe that such an offer is unlikely to be reached or surpassed we may recommend acceptance under auction conditions, with the condition that contracts must exchange before the advertised date of sale.

Property sale prices are often exceeded at auction and this is regularly ahead of the price which may have been achieved by a Private Treaty sale. Achieving this ‘Best Price’ is particularly important for Probate properties where Executors may be subject to scrutiny by Beneficiaries.

It is a common misconception that National/Regional firms of auctioneers will achieve higher results at a sale than local firms. In practice, local knowledge of the market results in better targeting of mailouts and advertising to reach the most bidders, which results in better prices being achieved for our clients.

The Benefits

Speed
There is no faster way of selling your property. From only four weeks from instructing Durrants, your property could have exchanged contracts on sale day, resulting in banking the sale proceeds within eight weeks of putting your property on the market.

Success Rate
By placing your property for auction with Durrants, you too could benefit from one of the highest success rates in the country. If certainty of sale is important to you, then you should seriously consider sale by auction.

Durrants have had a 100% success rate for selling land throughout Suffolk and Norfolk at auction during each of the past three years. For sales of both land and property together, we have achieved an average 88% success rate since 2016.

Style
How do we achieve such great results? Our high-profile marketing style is extremely effective, with regular adverts going to a wide range of local press and targeted mailing out of categories to regional and national buyers. We also use a wide range of websites to advertise our auction properties including but not limited to Rightmove.co.uk, Primelocation.com, Zoopla.co.uk.

Viewings are done entirely by us, and are either arranged in blocks to accommodate multiple viewers or are done on an individual basis – it is entirely dependent on the type and requirements of the property.

Certainty of Sale
With an auction sale, contracts are exchanged upon the fall of the hammer. No re-negotiation on price. All the legal issues are dealt with pre-sale, unlike Private Treaty sales where buyers may try to reduce their offers to take account of survey findings. Completion is within 28 days of the auction, therefore if there is a need to dispose of a property within a certain time frame auction could well be the best route to choose.

To find out more about our auctions or for a free valuation please contact our dedicated team on 01502 470427 or email propertyauctions@durrants.com.