Day of Sale

Property For Auction - Day of Sale

The moment of truth has arrived and your property is ready to go under the hammer! At this time any change in catalogue details will be amended and the catalogues will be given out to those attending the sale. Interested parties will also have the chance to make enquiries about any last minute details. Before your property is sold, the auctioneer will describe the property and then the bidding will begin.

The sale is complete once the hammer has fallen and the buyer will typically have to sign the document and transfer a 10% deposit to the seller via a clerk or auction administrator. Property Advice Blog suggest that the seller knows exactly how an auction house deals with a property that does not reach the reserve asking price before the auction day. In this way you will be aware of all the pros and cons of selling property for auctions in advance.