Auctions

Selling

Selling your property through an online auction platform is an efficient way to achieve a quick and secure sale.

Below are just some of the benefits to selling your property through MyBid4It:

  • 0% commission – no Estate Agency commission.
  • Best market price achieved – competitive bidding will ensure you achieve the best possible price for your property.
  • An undisclosed reserve price – this is set separately to your marketing price so you will reach a value you are happy with for the property to sell for.
  • Funds received quickly – buyer deadline 42 days to complete.
  • Reduced fall through rate – buyers will have undertaken more extensive property checks and committed to a non-refundable reservation fee.


Selling - 6 easy steps to selling on a live bidding platform

1. Price
This will be set in conjunction with the estate agent.

2. Preparation
Your estate agent will prepare all property details, take photographs and arrange the EPC (Energy Performance Certificate) if required.

3. Legal
We will put you in touch with our recommended legal team to prepare your Auction Pack. This is priced at £450 inc VAT and is only payable upon completion of the sale.

4. Marketing
The Estate Agents will begin to advertise your property to generate the maximum level of exposure and interest.

5. Bidding
At a set time and date, your property goes live so bids can be placed. You will receive regular updates about bidding. Potential buyers will have 15 minutes to bid on your property, with an extra minute added for any bids placed within the final minute.

6. Sold
Once the process ends, a 2.5% non-refundable reservation fee (minimum £4,000) is taken from the successful bidder and you have 42 days to complete the sale.