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Auction Location

Auction Location. Current venue is York Racecourse. The racecourse offers excellent facilities with unlimited free parking. The auction attracts approx 200-250 potential bidders/buyers. There is a licensed bar and seating for approx 100.

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Auction Location

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  1. Auction Location • Current venue is York Racecourse. • The racecourse offers excellent facilities with unlimited free parking. • The auction attracts approx 200-250 potential bidders/buyers. • There is a licensed bar and seating for approx 100. • Properties are displayed by powerpointon the screen.

  2. Auction LocationYork Race Course – Gimcrack Suite

  3. Benefit to the vendor? Sale in the shortest time Suits properties that the mortgage companies won’t lend on or those in need of work Exchange at the drop of the hammer -no cancellation. Often go for way above guide price and can achieve more than on the open market

  4. Benefits to the buyer? • Buyers perception – bargain for cash • Instant purchase – no gazundering or gazumping or solicitors delays • Investment opportunity – “Doer upper”

  5. How lucrative is it for the agent? • Additional revenue stream • High fee 2.5% + VAT, we share the fee with the agent • We exchange contracts on the night and receive payment within 28 days • No sales progression • Non-refundable deposit £500 • Structured sales cycle • Lots of effort but profitable

  6. Fees achieved by you • Richard Ayre – viewings only – 31 Gillot Road - £900 • Alex Wilson – viewings only – 16 Heathly Close - £1000 • Ed Catchpole – 10 The Green - £4125 • Lester Hurst – Woodlands - £3125 • Fee split

  7. How much work is it for me? • List the property or receive referral from us • Prepare the details • Pass to Hunters Auctions • Conduct viewings • Receive your fee cut on completion 14 days post auction

  8. How do I identify suitable properties? • Those in need of work • Those with structural problems • Probate properties • Development opportunities – land/commercial/residential

  9. Common objections from sellers? • What if it doesn’t sell on the night? • Guide price seems low! • Will it cost me more? • Will it go for a lower price at auction than on open market?

  10. Does everything sell at Auction? • Yes if the guide/reserve price is right • Some sell prior • Some sell after • Some go onto the open market • Properties can be sold prior (discouraged) under the hammer or after auction. • At our last auction we catalogued 14 properties • 1 property was withdrawn • 9 sold under the hammer • Lots 1 & 5 achieved 43% above their guide prices • Lot 14 achieved a massive 52% above its guide

  11. Are all the bidders at the auction? • Potential buyers/bidders do not have to attend the auction. • They can make their bids in writing prior to auction supported by a bankers draft/certified cheque. • We will also allow telephone bids during the auction from those confirming their finance in advance.

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