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HOUSING SECTOR REOPENING 13/05/2020

PUBLIC INFORMATION COVID -19 GUIDELINES

AS OF 13/05/2020 THE GOVERNMENT HAS ALLOWED THE HOUSING SECTOR TO RE-OPEN. HOWEVER, WE WILL STILL BE ENFORCING SAFETY MEASURES ON ALL VIEWINGS AND VALUATIONS. AND KEEPING WITHIN SOCIAL DISTANCING ADVICE. IF YOU HAVE ANY CONCERNS, PLEASE CALL US ON 01704 531541 OR EMAIL US AT ENQUIRY@PENNYJOSEPH.CO.UK
STAY SAFE AND HEALTHY PENNY JOSEPH

FAQ'S SELLING & BUYING PROPERTY AT AUCTION

Property Auctions - Selling

  • 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.

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 carried out by our solicitor;
  • Pay only your legal fees, on sale of property

  • It can take as little as only 4-weeks to exchange a complete through selling property at 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 also send details to our database of property investors.
  • If buyers are interested, they will often place an offer on the property prior to the auction, which we discuss with you. If you want to accept the offer, the buyer will pay a non-refundable deposit of 5% of the sale price immediately and be required to pay the final sum within 28-days.
  • During the time of the offer being accepted and completion, contracts will be drawn up and the legal aspect is undertaken.
  • Most properties sold through us are done so before the physical auction takes place.
  • When a property is sold in the auction room, the same principal applies. 5% deposit of property sale and 28-days to pay the 95%
  • Most people who buy auction properties are cash buyers.

Yes, absolutely. You still remain in control, but we will offer you any professional advice you need.

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Buying Property through Auction

  • 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 management and refurbishment.

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 auction and the vendor can accept the buyer’s offer. In such a case when the vendor agrees a price with the buyer, a 5% deposit of the sale price is paid immediately, along with the (Buyers Premium), which is usually £5000 + VAT. The property is then taken off auction. The buyer has then 28-days to pay the remaining money and the sale is complete. 

Conditional auction is within the auction room under a bidding process. The winning bidder will pay a reservation fee, and during a 28-day exclusivity period, the buyer will organise the payment/funding and set a completion date, which would usually fall within 8-weeks of placing the winning bid.

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.

We operate an unconditional auction

No, you can use your own preferred solicitor. But, we do have our own in-house conveyancing team, if you would like to use them instead.

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Best Property Auction House

I didn't believe I could sell my portfolio and pay no fees to the agency, - but that's exactly what happened. I got the price I expected on my houses, and more on others that I expected to get less for. The best part was that I didn't have to wait for the public auction, because they could sell it off before the date and the money was in my bank within weeks. Brilliant! E J Tinsley Landlord Lancashire

The most cost-effective letting agent I've come across

Penny Joseph has saved me thousands in agency fees, and looked after my properties professionally and to a high standard. The longest rental void I had with them was just 6-days. Thank you. S Ralli Landlord Liverpool

I sold my flat for more than I expected at auction

Excellent service and completely surprised at no agency fees. M. Watson, Homeowner

TENANT FINDER PACKAGE

LANDLORDS - FIND YOUR IDEAL TENANT WITH OUR FIXED FEE TENANT FINDER SERVICE

RENT GUARANTEE

LOW PRICED RENT GUARANTEE INSURANCE FOR LANDLORD'S PEACE OF MIND. NEVER MISS A RENTAL PAYMENT AGAIN - EVEN FOR BENEFIT TENANTS!

FREE TENANT DAMAGE INSURANCE

GET UP TO £5000 FREE TENANT DAMAGE COVER WITH YOUR TENANCY FREE!

WE DO NOT CHARGE ANY TENANT FEES OR ADMINISTRATION CHARGE ON TENANCY APPLICATIONS

ALONG WITH OUR FREE TENANT APPLICATION WE OFFER FREE TENANT REFERENCE AND CREDIT CHECKS ON ALL PROSPECTIVE TENANTS

NIL DEPOSIT SCHEME OPTION FOR TENANTS

WHY PAY EXPENSIVE DEPOSITS WHEN YOU CAN PAY LESS AND STILL BE SECURED BY A TENANT DEPOSIT? OUR NIL DEPOSIT SCHEME MAKES THIS POSSIBLE FOR OUR TENANTS WITHOUT WORRY TO LANDLORDS

Next Steps...

Whether you are a tenant looking for a home to rent, or a landlord looking for property management solutions, call us today on 01704 531541 to hear how we can help you

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