Archives: FAQs

What is a ‘Buyer’s Premium’?

When buying a property at auction, the winning bidder pay’s a Buyer’s Premium. This is a fee to the auction house. The fee can vary depending on the price of the property. Properties will state what the buyer’s premium is.

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What role does Penny Joseph & Town & Country play in the auction process?

We facilitate the vendor, buyer and organise the property particulars for the auction. We ensure that the buyer has all the information they need. We undertake viewings of the auction property. We liaise between vendor and buyer. We facilitate in the sales exchange and completion. We can offer advice on property investment, rental yields, property […]

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What is the process of buying property at auction?

There are 2, types of auction – conditional and unconditional. UNCONDITIONAL PROPERTY AUCTION In an unconditional auction, contracts are exchanged to the winning bidder immediately. Through unconditional auction, properties are actively promoted, prior to the public auction date, viewings are undertaken, and legal packs are made available. Bids can be made prior to the public […]

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Who Undertakes the Viewings?

One of our experienced agent’s will carry out viewings on your behalf if you do not wish to carry them out yourself. If you live elsewhere and need an agent to oversee the process – we can do this for you at no charge.

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How do you sell a property through auction?

Once we have valued your property and verified ownership, you will be asked to sign a sellers agreement confirming the reserve price you have placed on your property. We then market your property at a guide price prior to any physical auction. Properties are marketed on popular property portals, such as Zoopla, OntheMarket etc. We […]

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How much will you charge me to sell my property at auction?

With Penny Joseph & Town and Country it does not cost you anything to sell your property through auction. We do not charge the vendor any agency fees whatsoever. Our buyers pay a premium on property sales through auction, so you don’t have to pay us anything! No upfront legal fees for legal packs if […]

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