Auction Properties

Property auctions with DOMVS Estate Agents in Dorset are a fast and transparent way of guaranteeing a property sale.

Auction Properties

Whilst property auctions are currently less common than traditional property sales – or ‘private treaty’ as they are otherwise known – they have existed from as early as Roman times and are a tried-and-tested way of buying and selling property. Property auctions account for about 2-3% of all property transactions in the UK and its popularity seems to be on the rise because they enable a quick, certain and smooth property sale, with no chain, in a time-frame that suits the seller’s expectations. 

What is a Property Auction?

A property auction is where a catalogue of properties, known as lots, are sold via a live bidding process. Each unit will be sold to the highest bidder, which is legally binding at the fall of the gavel. The successful purchaser will pay a 10% deposit and both parties are legally bound to complete within 28 days.


Advantages of Selling a Property at Auction

  • Speed: a property auction sale is fast – the buyer commits legally on the fall of the gavel with an exchange of contracts, secured by a 10% non-returnable deposit
  • Certainty: property auctions remove the stresses and uncertainty of ‘subject to contract’ transactions. There is no long-drawn-out negotiation or renegotiation and unlike a private treaty sale, absolutely nothing is left to chance
  • Transparency: all interested parties can bid for a property in an open forum, which can naturally push prices upwards

 

Next Auction Date:
Thursday 18th July

Recent Successes

Informal Tender Properties

Similar to an auction, some properties are sold via Informal Tender, where bids are submitted by a specific deadline. The pros and cons of selling by Informal Tender, Auction or Private Treaty are explained here – Selling Property. Here are some of our properties currently available by Informal Tender.

Testimonials

The expertise and guidance provided by DOMVS from the initial enquiry through to the completion date were exemplary. The advice was concise and reassuring, with a wealth of knowledge of the sales market. This resulted in the property being pitched correctly for the current market conditions and meeting the guide price given. Communication throughout the process has been very good which was critical for the six-week window to complete. I would not hesitate in utilising the services of DOMVS in the future and would recommend to anyone requiring Estate Agency services.

Alison was exceptionally helpful, caring and willing to help me with any queries, even after my purchase. Very professional and keen to do the best for all parties. A pleasure to work with.

Auctioning our lovely cottage with DOMVS was inspirational. Having tried a few years earlier to sell we had knew about all the fuss and delays caused by indecisive buyers who had inadequate surveys. So dealing with the team was a pleasure and we had support and help beyond all expectations. For a fuss free sale and a good price we could not have done better.

View Our Auction Properties

Our search algorithm can't find any properties at the moment. That's not to say we don't have any. We're really passionate about property - that's why we wrote a page dedicated to it - and it's possible we have some available properties on our Whisper List.

FAQ's

A catalogue of auction property is released to the market ahead of the auction date (usually four weeks) and will contain a set of particulars and a legal pack. With the key information available upfront, it means buyers are armed to make a quick decision at the auction, although it’s important to consider the maximum bid in advance along with assurance of available funds. We’d suggest that inexperienced auction bidders should seek legal advice before making any purchases. As a buyer, you should also be aware of additional fees to pay when buying a house at auction – these should always be included on the particulars.

Property auctions are carried out by a traditional auction house, who will work alongside your estate agent to market your property as widely as possible in advance of the auction date. As part of the marketing strategy, a guide price will be set and a reserve price will be agreed. As long as the reserve price is met, then auction sellers can assume their property will be legally sold once the gavel has fallen. To get more in-depth information regarding a property auction, we suggest speaking to one of our team.

Some people assume that auctions are just for problematic properties, such as those with structural defects or legal issues; but this is not always the case. Our property auctions tend to be determined by the circumstances of the seller or because it is likely to lead to a quicker sale or a higher sales price. Clients who need speed, transparency and closure are increasingly turning to auctions. Establishing whether your property is suitable for auction, will depend on many different factors, and this is best discussed with one of our team, who will listen to your objectives and guide you through each of your options.

Register for Auctions

If you would like us to help you search for a Dorset property, please complete your details below:

Register as an Applicant

"*" indicates required fields

Current Address*
Properties of Interest

Our Privacy Policy and Notice describes how we use your data, who we might share it with and what rights you have.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

This field is for validation purposes and should be left unchanged.