F.A.Q
We have listed below some of the most common questions that people ask us. Contact us by e-mail if you have a question.
How do I get my property on the market with you?
Just give us a call on 0208 123 0067 or 0796 777 0832. We will then arrange for an Auctioneer to visit you in order to estimate the value of the property, measure up, take photos, virtual tours, carry out some research and list the property on the website etc.
Who takes the photos and virtual tours?
We will do this for you. Once you have got in touch with us and confirmed that you would like to go ahead with marketing your property, we will send one of our Auctioneers to see you to take all the photos, virtual tours and write the details. You can send us a key to the property or you can be there to let us in!
Why do you have to come and do the photos. Can we just send them or e-mail them to you?
No! We have to satisfy certain terms, conditions and regulations and by visiting the property and taking full details, we are guaranteeing the accuracy of the details according the Estate Agents Act 1979 and the Property Misdescriptions Act 1991.
When does it actually go on the market?
As soon as the Auctioneer returns to the office, our administration team commence the work on uploading the property onto the Internet and marketing. This process is normally completed within 48 hours but it will depend on whether a HIP or EPC is required.
When can an Auctioneer come out to see me?
This can be arranged fairly quickly, but it does depend on the workload. We generally get someone out to see you within a couple of days. Remember, we do work at weekends as well.
How long does it all take?
Depending on the size of property, it will take anything from half an hour up to two and a half hours.
Does it matter if my home is registered with another agent?
Our advice is to examine your contract with them and if it permits you to disengage them with or without notice, we recommend that you do that immediately. We are classed as Auctioneers but still classified as Estate Agents, so you could find yourself bound by the terms and conditions of the contract that you have signed with your current agent. You may have to wait until the agreement with your current agent runs out or, if you speak to your agent nicely, they might let you out of the contract early!
Will you value my property for me?
The Auctioneer will provide you with a guide as to what your home is worth based on land registry figures and after carrying out some research this might alter his initial estimation either way. We do recommend that you conduct your own research in order to get a feel of its value based on other similar properties recently sold in your area.
How are viewings conducted?
We prepare set dates for viewings, which are convenient dates that suit you. All calls and viewing requests come through to us and we will keep you informed of any requests for a viewing outside these times and dates. We vet every viewer before they visit your home.
What happens after the viewing has taken place?
We keep in contact with those viewing your property and we will advise you of what the applicant thought of the property - either by phone or by e-mail.
What about offers made prior to the Auction?
Offers will be made through us and we will report every offer to you by telephone and in writing. We are totally committed to getting you a price that you will be happy with and we will negotiate on your behalf until we have reached an acceptable figure to you.
How long can I market my property with you for?
We will keep marketing your property to auction until it is sold or until you request us to take it off the market for one single auction entry charge.
Do you have any minimum contract period?
Due to the length of time involved in running a property to auction, we normally ask for a 26 week sole agency period.
Why do you charge up front fees?
Estate agents only earn a fee on around 25% of the properties that they come into direct contact with. It is because of this situation that they charge high fees - they have to allow for the time involved in non-chargeable activities. Equity and Law charge for the initial work that we do and we deliberately keep our overheads to a minimum, therefore we can reduce the commission fees that we charge, knowing that on average 80% of the properties that we take on sell using our auction strategy. If we didn't charge up front fees, this wouldn't be possible.
What happens once an acceptable offer is received?
We inform solicitors and establish whether there is any buyer chain involved from the interested party. Exchange of contracts will take place immediately and a deposit of normally 10% is taken as your solicitor will have prepared the contract ready for signing. We will write to all concerned parties with confirmation of the sale and help you in any way that we can with getting the sale through to completion.
What's the catch?
There isn't one! We are genuine Auctioneers and we can sell all types of property in any area of the country.
I need to sell my property quickly. So what I need to know is will my property sell quicker by taking it to auction?
By setting a ‘Price Guide’ and an ‘Auction Date’ you are driving the attention of ‘bargain hunters’ to your property. In effect you are pushing your property to the front of the queue in the 'For Sale Market' and this normally creates a flurry of interest. The ‘Brochure’ includes ‘Land Registry Searches’ and the ‘Contracts of Sale’ and this is prepared well in advance, allowing you to accept an offer prior to the auction if you want to. In my opinion, you will sell your property quicker and for a higher price given the current market conditions.
How much commission do you charge?
Please telephone the Auctioneer on 0796 777 0832 or 0208 123 0067 in order to discuss our commission charges. Our fees are reasonable and provided the ‘Guide Price’ is set correctly and the reserve is realistic, there is an 85% chance that the property will sell at or before the auction. We get paid on results, so we do not charge commission if we fail to sell your property. However, there are the expenses of preparing your property for auction and these charges are covered by the Auction Entry Fee, which is paid by way of the upfront fee.
What does the guide price mean?
A guide price is an indication of what the property's reserve price is based on the vendor's expectations and not necessarily the figure at which the property will sell. Prices achieved at auction may be lower or higher than the guide price. Guide prices can often be updated before an auction so always check you have the most recent list.
What is the addendum?
The addendum details any revisions or additions to information in the auction contained in the catalogue. Addendums are updated constantly and it is important that you check this information before bidding on any lot.
What is a reserve price?
A reserve price is the lowest price that a vendor will accept. This is normally agreed between the vendor and the Auctioneer and cannot be disclosed to interested parties.
Can I sell my property prior to auction?
Vendors will often consider offers made before the auction day.
