Online Discount Property Auction Guide

How the Assetz 'Name Your Price' online property auction service works - it's easy!

Buyers :

You review the property details, its location, the current property advertised price and any RICS valuation we have listed and you decide at what level you wish to bid
You place your bid - your bid is not binding at this time - the Assetz Guide price is only our indication of a possibly acceptable price and lower bids may well be accepted by the vendor!
You will receive a call from our property consultant to review your bid and confirm if it is likely to be accepted or not
At the close of the auction we put all the bids to the seller and they will immediately confirm if they accept the highest bid (or bids if the property has multiple units of the same type)
If your bid is accepted then a Finder's Fee of 2% plus VAT is chargeable, (subject to a minimum of £2,500 plus VAT)
Speedy completion is required by the seller so you should contact our Assetz Finance team or your own broker if not paying in cash. Bridging finance can be provided (subject to status)
The seller may choose to accept a bid before the close of the auction so do not wait until the end of the auction if you are keen to acquire a property
Auctions may be re-extended beyond their original closing time if not all of the units in an auction have been sold

To help you, we have added an online yield calculator on the auction bidding screen so that you can see the predicted gross yield achievable on your bid price.

Developers / Sellers :

You produce a list of property you wish to sell quickly to our 30,000 registered auction buyers
Speak with our Auction property sourcer on 0845 400 9000 to review if your property for sale is suitable and has a suitably attractive guide price
Decide whether or not you wish to display the guide price - remember sealed bids auctions with no indication of acceptable price are likely to produce less bids
Provide us with any current RICS valuations and other collateral that you may have - a current RICS valuation will be required by us at your cost
Agree a contract of sales exclusivity with Assetz Auction and a timeframe for the auction to be live
Once bids are coming in you are at liberty to accept them during the auction or wait until the end of the auction. You can make counter offers to rejected bidders after the end of the auction
If you choose not to display a guide price then you never disclose any public information on the bottom-line price you're willing to accept and you choose whether to authorise us to disclose this in conversations with bidders - protecting your scheme pricing

Any questions? E-mail us on investors@assetz.co.uk or call us on 0845 400 9000 - Otherwise good luck with your bid!

Other Information

Risk Warning and Disclaimer : The price of property can go down as well as up. Historic performance should not be taken as a guarantee of future performance. Geared property investment with mortgages can increase risk of losing money as well as increasing the possible gains. Mortgage products referred to in the website can be withdrawn by the lender or have rates or other terms changed without notice and reference to any products does not imply they are certain to be available in the future. Mortgages referred to may also have certain applicant restrictions and are for indicative purposes only although reasonable endeavours have been used to ensure that they are available at the time of publication and are applicable to a significant number of our purchasers. This site is for information purposes only and nothing on this site should be taken as definitive investment advice for your particular situation without you seeking additional guidance directly from ourselves or from other finance and property professionals. Property particulars on this site do not form part of an offer or contract. The developer and Assetz for Investors Ltd, whilst endeavouring to ensure complete accuracy in these property particulars, cannot accept liability for any errors. Valuations of property or indicated rents achievable are either estimated or derived from valuations and/or comparables and can change and should not be relied upon without your own additional valuation and research, but we have carried out reasonable endeavours to achieve accurate indications for these figures. All descriptions, dimensions, areas, reference to condition and, if necessary, permissions for use and occupation and their details, are given in good faith as provided by the developer and are believed to be correct. However, these are subject to change, especially, but not wholly, relating to any property that is off-plan or not yet complete. Any intending purchaser should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to their accuracy. The onus is on each individual investor to undertake their own due diligence, enquiries and inspections. Our standard Terms and Conditions of Sale will apply. E. & O. E.