Roebucks are partnered with Iam Sold to give our vendors a choice when selling. Iam Sold are one of the leading UK auction services and offer two different types of auctions to meet the differing needs of our sellers:
Traditional Method Auction
The traditional auction takes place at a live auction event. It offers buyers and sellers speed and complete security, as the buyer makes payment of a 10% deposit and exchange of contracts takes place straight away at the auction event. Completion takes place 28 days later.
Traditional auctions can limit interest to cash buyers and investors so its usually best suited to those that need a quick sale, or those that have a property that wouldn’t be considered as mortgageable.
Modern Method of Auction
The modern style auction tends to be more accessible to buyers and creates a transparent platform for buyers and sellers. The auction combines aspects of the traditional auction service and selling a property via private treaty.
This method of auction allows buyers to arrange mortgages as their method of payment. The exchange of contracts has 28 days to take place from the solicitors receipt of draft contracts. It is the preferred auction route for buying and selling. It has changed the perception of selling via auction.