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Thepropertybid.com is the only online property auction service in the UK where both buyers & sellers can take part in property auction transactions, have 100% control, have no paperwork to fill out and no registration fees to pay upfront.
That's right, no more paperwork to download, fill in and send back. No expensive registration fees to pay and most importantly, no more waiting around for what can seem an 'eternity' for an auction house to start their auction. Sellers can start their own auction just before they leave out for work, can check the progress from their office PC or mobile handset and can set it to end by the time they have come home, or at ANY time they feel like! You have complete control over your auction everything from the description, reserve price, duration and even the option to upload a video recording of the property. Benefit from the 'tell a friend' feature and tell your friends, family and colleagues that you are selling a property. Keep an eye on things as they happen from the comfort of your own home, work place, mobile device or anywhere!
Also, by using Thepropertybid.com, you will more than likely achieve a higher price than using an estate agent. If you have a desireable property, a bidding war could happen which is only good news for you. There will be no underhanded business and the sale will always be conducted in a fair and open manner. Estate agents will offer to put your property on the market for a price higher than the price they believe they can sell your property for. This is to allow for offers below the asking price. Where you are looking to choose the best agent for you, you may wish to call two or three different agents, each of whom will be wishing to take the instruction for your property as on a sole agency basis they will have sole rights to sell your property usually for anything between 4 weeks and 3 months. Competition between them to secure your instruction can lead to some agents artificially inflating the price that they are prepared to market your property in the hope that you will instruct them. Remember, your property is only worth what somebody is prepared to pay for it. So if an estate agent says it is worth say £250,000 and nobody is actually prepared to offer you more than £230,000, your property is worth £230,000. Hence why using the Internet and this site you can do your own research and set your own price. Estate agents advertise your property in local papers and by other means hoping to sell your property. If it doesn’t sell quickly, they have the reassurance that they can persuade you to reduce the asking price or they just give up and stop actively marketing it after a few weeks if they cannot secure a sale. Thepropertybid.com commits to effective advertising & marketing to ensure that your property is marketed to a widespread audience looking for bargains or just a property to live in. With your property being placed in the market inviting offers at the auction, you can ensure that you sell your property at open market value, the true value for your property. This could be higher than an estate agent’s valuation if demand is high or lower if the actual value of the property is lower than what an estate agent may market it for. Whatever happens, you have the reassurance that your property has sold at open market value quickly and at the best price. Remember the example above where the property marketed at £250,000 was only worth £230,000? It is better to get the £230,000 quickly rather than live in false hope thinking your property is worth £250,000.
Plus, we would strongly advise to read the small print in your agreeent with your estate agent. As you are a private seller, and technically speaking this is a private sale website, you shouldn't have to pay their commission even though you sold your property without their assistance, e.g. you told your colleague about your sale and they agreed to purchase, why should the estate agent get paid? Alot of them have included this 'nonsense' clause, so if they have done so, question it. Well, it's similar to buying except potential tenants bid on how much they would like to rent a property for. Landlords can upload their properties for free, and like the sales section, have complete control of their lettings auction'.
For example, a landlord uploads a really nice 2 bedroom property in the Nottinghill Gate area and it's on offer at around £300 per week / £15,600 per year.
A potential tenant(s) likes the property alot for whatever reason and is prepared to 'up the stakes' by making a bid to ensure they get to rent that property at their higher price.
At the end of the auction, if the potential tenant's bid is the highest then they will be able to rent at that price and the landlord gets their property rented and a higher initial figure is realised.
Everybody is happy! 100% yes.
Landlords can list almost every aspect of the tenancy agreement on-line, 24 hours aday for free!
Additional information relating to commercial properties are included but if you see something that should be included, whether it be good or bad, please send an email to info@thepropertybid.comto let us know.
Thanks It's quite simple. Firstly, register your details and then your property information, which includes uploading 9 photographs and a video file.
It's the same process for buyers as well. Simply register by filling out the form, confirming your account by activating it from the link we send to your email account and that's it, you are ready to bid on any available property auction. Unlike other auction houses we don't believe in charging an entrance fee. It doesn't matter whether you are selling a lease, lock-up garage or 8 bedroom mansion, there are NO ENTRANCE FEES! Our commission is normally 2% (including VAT) but for a limited time it has been reduced to 1% (including VAT). This is only payable if the property is sold on the site.
You may use cheques, bank drafts, credit cards, debit cards, CHAPS or telegraphic transfers to pay your commission fee.
Well, if the property is not sold then seller will be notified and they will have the option to either remove the property or relist it (for as many times as possible absolutely free)
However, if it is sold then the first thing to say is CONGRATULATIONS!
Both the buyer and the seller will receive emails confirming the good news and that they should contact each other to continue the rest of the transaction. From this point, it is strictly between the 2 parties and we do not take part at all in the rest of the process.
If by some unlikely event the buyer decides not to continue with the deal and pull out, not only are they still liable for the commission but the seller can sue for breach of contract, as like in a real world auction. As in every single type of transaction, there is always a risk. However, this site reduces the possibility of something going wrong by giving the control to the seller. If the property is 'sold' and there is a problem with the buyer then the only thing you as the seller has lost is your time but no money. However, please remember, the buyer’s indentification will be verified and authenticted by their Solicitor when they proceed to purchase your property. Yes, you will need to arrange this yourself before you start your property auction. If you have any questions about this please contact us at info@thepropertybid.com. It all depends on the type of property you are offering for sale. You do not need one if you are selling a property in any of the following situations:
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