6 easy steps to selling on a live bidding platform
This is set in conjunction with your estate agent, who will advise on the guide price for marketing purposes. An undisclosed reserve price will also be agreed upon.
Your estate agent will prepare all property details, take photographs and arrange the EPC (Energy Performance Certificate) if required.
We will put you in touch with our recommended legal team to prepare your Auction Pack. This is priced at £450 inc VAT and is only payable upon completion of the sale.
Your estate agent will begin to advertise your property to generate the maximum level of interest. MyBid4it will list your property on our website for potential buyers to register their interest and gain access to bid once the auction is live.
At a set time and date, your property goes live so bids can be placed. Potential buyers will have 15 minutes to bid on your property, with an extra minute added for any bids placed within the final minute.
Once the bidding ends, a 2.5% non-refundable reservation fee (minimum £4,000) is taken from the successful bidder and they have 42 days to complete the purchase from the point draft contracts are received by their solicitor.