When to Sell?
Venmore Auctions hold monthly auctions. To find out the dates visit our website www.venmoreauctions.co.uk or call our office on 0151 236 6746.
Book your Appraisal
Venmores offer a 100% free auction appraisal. One of our experienced auction valuers will visit your property and discuss with you a price they feel confident in achieving at our next auction. Not every property is perfect for auction and if this is the case our valuers will advise you on the best alternative method of selling.
To book your free auction appraisal you can call our auction department directly on 0151 236 6746 or visit our website at https://www.venmoreauctions.co.uk/
Guide & Reserve Price
The guide price is the price that we market your property at. It is the price that the general public will see and gives them an indication of the price you are expecting to achieve (not necessarily the figure at which the property will sell). The reserve price is known only to Venmores and you. We will not sell your property below this price without express permission from you first, but once someone bids over this amount the auctioneer will sell under the hammer.
Venmores offer a standard entry fee of £300 incl of VAT. This is payable at the time of instruction and includes advertising on our website and property portals, an auction board at your property, accompanied viewings, marketing through our database and online portals.
To sell a property in the UK you need to have a current Energy Performance Certificate in place. They are valid for 10 years and are a Government requirement whether your property is residential or commercial. We can carry out a residential EPC for you at a discounted rate. For commercial premises this price will be higher and dependent on the size of the property.
To sell your property by auction you will need a solicitor to produce a legal pack prior to the day of the auction – we cannot legally sell without this. If you do not have a solicitor we can recommend a number of local solicitors who offer this service to our clients at a discounted rate.
Venmore Auctions charge a commission fee once we have sold your property. The standard rate is a maximum of 2% + VAT (2.4% incl of VAT) of the sale price, subject to a minimum £1,800 incl of VAT, whichever is greater. If your property sells for £75,000 or below the minimum fee will be applicable.
We will charge a contract documentation fee of £100 + VAT (£120 incl of VAT) for properties on which contracts are exchanged.
Information We Require
We will need photographic ID & Proof of address, completed PEP declaration for each registered owner. If the property is being sold under a Company name we will need your Company registration information as well as identification of the authorised Director/s. Please contact the office for full details.
Once you have fully instructed us we will issue our Contract of Engagement for signature and return and begin to market your property. We will handle all enquiries and sale related matters from this day through to the day of the auction, and should your property not sell, for a minimum of 4 weeks after the auction as properties that may not be sold during the auction may be sold in the following few weeks.
Draft particulars will be produced and these will be sent to you for approval. It is important that you check the particulars thoroughly and make any amendments you feel necessary, and then return to the auction department as soon as possible.
If the property is vacant you can supply Venmore Auctions with a set of keys and we will carry out all viewings at no extra cost. If the property is tenanted we will organise with yourself and / or the tenant block viewings prior to the auction that will cause as little disruption as possible. These viewings will be accompanied by a member of staff from Venmore Auctions. It is extremely important that potential buyers can get access to your property as it can affect the price achieved or even result in the property not selling.
The Fall of the Hammer
On the fall of the electronic gavel, a binding contract is formed between the highest bidder and the seller. At this point the buyer is legally bound by all the terms and conditions laid out in the auction contract. Contract are exchanged and they must pay their 10% deposit immediately and must complete within the agreed completion period (28 days is the standard), or risk losing their deposit.
Speed of Sale
From the day we have been formally instructed we will be actively trying to sell your property at the highest possible price for you. For this reason we can, and have, sold properties from instruction to completion in less than 8 weeks. As Buyers commit at exchange with a 10% deposit very few sales actually fall through.
If you would like to discuss any aspect of the selling process you can call our auction department direct on 0151 236 6746 and speak with one of our dedicated auction team.