Watch the price of your property increase in real time

If your property is chain-free, selling through Haslams via online timed auctions could help you achieve the best price, a faster sale and with more certainty.

What are the benefits of Online Auctions?

Speed

Sell faster. With no lengthy conveyancing process once your buyer has been found, you can benefit from a fast, more certain sale.

Certainty

With an instant exchange of contracts, you can have confidence and certainty that your sale will proceed and avoid buyers withdrawing or renegotiating.

Best Price

With open, transparent bidding that can only go upwards to a broader group of buyers, you can achieve the best possible price.

International Exposure

Bidders can bid from anywhere in the world. We have over 70,000 buyers on our database to provide the best exposure for your properties.

The Traditional Sales Process

  1. 1When the auction finishes

    At the end of the auction, when the timer reaches zero and your reserve price has been met or exceeded, you and your buyer have exchanged. The buyer will be charged a fee that will have been specified in advance.

  2. 2Sales Memorandum

    The agent will sign the sales memorandum on your behalf as evidence an exchange has taken place, and forms part of the contract of sale. The buyer now has a specified timescale (usually 20 working days) to complete the sale.

  3. 3Prepare for completion

    You should contact your solicitor and make sure that they have everything ready to send to the buyer’s solicitors in time for completion. The buyer will contact their solicitor and make sure they have everything in place for this same deadline.

  4. 4Completion

    Congratulations! You have just completed on a property sale using the traditional online auction sales process.

The Conditional Sales Process

  1. 1When the auction finishes

    At the end of the auction, when the timer reaches zero and your reserve price has been met or exceeded, you and your buyer have exchanged. The buyer will be charged a buyer fee and you will both enter into a reservation agreement.

  2. 2Reservation agreement

    The agent will sign a reservation agreement on your behalf as evidence that a reservation has taken place. The buyer now has a specified time period (usually 20 working days) to finalise and be ready to exchange contracts.

  3. 3Preparing for the exchange of contracts

    You should contact your solicitor to ensure everything is ready to send to the buyer’s solicitors and arrange for the exchange of contracts by the deadline. The buyer should contact their solicitor and have everything in place for the same deadline. The buyer will forfeit the buyer fee if they fail to meet the deadline.

  4. 4Completion

    Once contracts have exchanged the property will shortly complete and has sold through the conditional online auction process. Congratulations!

Frequently Asked Questions

 

Q. Aren’t auctions for distressed properties?

A. If your property is chain-free, then it is suitable to sell online via these methods. More and more properties are being listed and sold this way in the UK. It’s a great way to attract all types of buyers and exchange occurs faster. You could also get a higher price than you expected.

 

Q. If I get an offer outside of this sales process, can I accept and withdraw the property?

A. Yes, so long as you do so before the reserve is met and the timer hits zero. You may have to pay a withdrawal fee and you should consider the terms of our Online Auctions Listing Agreement.

 

Q. How do you verify the bidders?

A. All bidders are required to undertake and pass our enhanced ID check, store a UK address registered payment card with us for automatic and immediate collection of a fee at the end of the auction as well as provide us with their solicitor details.

 

Q. Can you alter the reservation period?

A. Yes, you can change this to suit your circumstances. Should the buyer need more time, you have the option to extend the reservation period.

 

Q. What if it doesn’t sell? Is there a cost to relist?

A. No, you can relist as many times as needed at no extra cost.

Call us on 0118 960 1000 to learn more