Selling commercial property
Selling a commercial premises
Whether you’re looking to sell your commercial building to the highest bidder or have a unique unit that is struggling to sell, the specialist auctioneers can help. Selling at auction has never been easier. This method of sale is becoming increasingly popular as the benefits outweigh that of a traditional commercial agents’ sale. The auction route is very different from a private treaty sale in that the time frame between instruction and completion is a lot shorter, thus saving you time by shortening the whole sale process.
Traditional auction Vs
modern method of auction
Why are sellers using the traditional method of the auction in almost every case?! Over the past year or so, Connect UK Auctions have received calls from thousands of clients in the UK with unsold properties using the Modern Method of Auction.
Why do people sell at auction?
You are in full control at all times. From the reserve price to the guide price, we are here only to advise. Setting an attractive guide price instills the engagement of potential buyers. The competitive atmosphere and the variety of bidders from different sources will push up the price organically. If a property is suitable for auction – expect the sale price to reflect that.
Property and land auctions are best known for selling with speed. On the fall of the gavel contracts are exchanged and completion usually 28 days after. By following our advice and pricing the property at an attractive level, you can be sure of a quick sale and sometimes even a pre-auction sale. This timescale is legal and binding. Clients are attracted to the promptness of a swift completion of a sale.
Imagine a sale with no possible fall-throughs, gazumping or gazundering. Once the gavel falls the buyer and seller are legally bound to the sale and contracts are exchanged. Neither party can pull out. Not only this, this method of sale eliminates any long negotiation processes and seller chains. This gives you, as a seller, total security, full control and peace of mind that your sale is guaranteed.
Once the gavel falls, your buyer is legally committed to purchasing and cannot change their mind without the penalty of losing their deposit as well as ongoing legal expenses.
Competition is good; gathering all potential purchasers together in the same place at the same time creates a sense of urgency and wanting, so you can be rest assured the price achieved is the best you could possibly obtain.
Once a pre-auction offer is accepted or by the fall of the gavel, the paperwork is then signed and exchange of contracts will take place at the agreed price, so there is no renegotiating or gazundering. (A legal pack is required for all potential purchasers to review prior to committing to purchasing a property).
Properties are marketed both locally and nationally to create the greatest amount of interest. Included in the marketing campaign is the following:
- Regional newspaper advertising
- National internet and website portal advertising inc Rightmove and EIG
- An erected ‘Auction For Sale Board’
- Personal property listing within the Connect UK Auctions brochure and website
- Postings to Company social media accounts including Facebook, Twitter, LinkedIn and Instagram
- Individual property mailouts to thousands of active and ready-made buyers
- Maximised exposure, with thousands of potential buyers logging in to watch the auction