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Buyers | How It Works

Buying through the PropertyPortalAuctions.com online bidding service could not be simpler. You can bid online or if you do not have access to the internet you can contact us and we can make a bid on your behalf.

The successful buyer pays a reservation fee at the end of the PropertyPortalAuctions.com online auction. This reservation fee has been kept as low as possible to assist the buyer but to ensure that the seller receives the best price for their property. The successful buyer should also take into consideration that they have secured the purchase of a competitively priced property sold to them by a motivated seller.

All of our auction properties are offered for sale via the PropertyPortalAuctions.com online bidding service. This is not to be confused with the traditional method, where a legal exchange of contracts is required immediately after the auction ends.

PropertyPortalAuctions.com online bidding service is an easy to use process, still based around a fixed timescale but allowing longer periods for exchange and completion to further assist the buyer and seller.

The key points of PropertyPortalAuctions.com online bidding service;

• A  specified percentage of the final bid as clearly stated on the online property details is paid by you to us within 48 hrs of auction completion (this is a reservation fee and does not form part-payment of the final selling price) or the minimum fee as stated whichever is the greater.
• Exchange of contracts must be within 28 days from the end of the auction.
• A maximum of 28 days for practical completion of the sale.

If you are the successful bidder you will be informed electronically from the real-time auction database and someone from PropertyPortalAuctions.com will subsequently call you to outline what happens next.

Key stages you will need to complete within 48 hours of the end of the auction are as follows:

1. Payment of the reservation fee

2. Sign the reservation form and provide any relative information necessary to PropertyPortalAuctions.com.

The agent or PropertyPortalAuctions.com will contact you to request proof of funds to acquire the property.

Once the above elements have been completed, we will require you to confirm your solicitor or conveyancer to commence the formal purchasing process.

As with any property purchase there are two legally binding stages which must occur:

1. Exchange of contracts:

By accepting our terms you are agreeing to exchange contract within 28 days following the completion of the auction, the only fees you will have paid during this time will be the reservation fee and any conveyancing costs as with any normal property sale.

2. Practical Completion of contracts:

This is the formal sale and purchase of the property whereby all fees, funds and property particulars are finally agreed and the transfer of title and legal ownership occurs.

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Sellers | Why sell through the online property auction?

When deciding to sell your property you have a number of choices and decisions to make, a route to consider is by using the PropertyPortalAuctions.com online bidding service as this can provide you with a number of alternative benefits to the conventional way of selling:

1) The best price in the current market

We operate local and national marketing to ensure any property has the maximum exposure to potential buyers. Potential buyers are not limited to those able to get to a physical auction. Anyone in the country or world can bid over the internet or by calling our auction team. Our mission is to get you the best price in the current market for your property.

2) Option for 0% commission

You can decide not to pay any fees to sell your house and we will charge the buyer a suitable reservation fee which covers all costs. Alternatively, you can pay your agent their normal fee and only a small reservation fee will be paid by the buyer.

3) A precise moving date!

When the online auction closes the buyer is tied to a defined and precise timeline for exchange and completion, once the buyer has paid the reservation fee (buyer’s premium). This provides complete clarity for both parties. A fixed timescale is not often set when selling a property through the normal property agency route with many sales taking much longer than anticipated.

4) Ensuring we only have serious buyer's by way of a non-refundable fee

The buyer pays a non-refundable reservation fee which is calculated against the winning bid for the specific lot. The fee is non-refundable to ensure the buyer is serious, ready and able to proceed and can prove funds to ensure they are unlikely to back out of the transaction.

5) "Sorry" payment

In the unlikely event that a buyer, after paying their reservation fee, backs out we understand you may have incurred costs but more particularly know that you will have been inconvenienced. We would send you a cheque immediately amounting to 30% of the paid reservation fee to say "SORRY".

6) National coverage of your property via our extensive and vigourous market and PR campaign

We are currently undertaking an extensive marketing campaign to support the launch of the PropertyPortalAuctions.com online bidding service, this will ensure your property reaches a wider geographical market and has the ability to reach motivated buyers from the wider UK property market.

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Why Auction?

PropertyPortalAuctions.com mission is to provide the most viable and successful way to sell property in an ethical and dynamic manner via our unique online bidding service.

PropertyPortalAuctions.com provides the highest level of service based on straight forward, honest and reliable advice through which our customers can manage their objectives and achieve successful results.

Why Auction?

PropertyPortalAuctions.com is an ethically based company within PropertyPortal.com Limited run by property professionals offering a cost effective and efficient online property bidding service for property agents and property disposal professionals.

In these challenging times all agents must offer their clients every service possible to ensure that both sellers and buyers achieve their objectives. Agents have to ensure that they embrace new ideas to increase sales.  

We are a professional auction management provider specialising in running online property auctions for property agents.

We do not charge any fees or franchise costs to provide you with a professional online bidding service

We provide a professional, bespoke property online bidding management service which will enhance the geographical profile of your business and provide you with an incremental route to market and revenue stream.  

Our management systems allow for the online site to be adapted to suit individual agents  needs to their specific requirements.

PropertyPortalAuctions.com wish to offer all member agents marketing edge and a unique product which will always remain competitive in the market place. Depending on circumstance, market condition or agents desire there is now a simpler fee system. We are just launching a 3 option fee/commission structure to give our member agents marketing edge and to make buying and selling via our bidding site more cost effective.

The key benefits to the agent

1. Simple to use system.

2. Increased sales:

In these challenging times agents must embrace every possible service to assist their clients in achieving their objectives.

3. Increased and predictable revenue through additional properties to sell.

With defined time scales of the online auction process the agent knows accurately when revenue will be recognised. This online auction service will attract new customers and more sales will be achieved.

4. No set-up costs.

We do not charge anything for setting up your bidonmyhouse online auction service. We take care of all aspects of this service and full training is given to all your staff.

4. An Incremental service to offer your clients to improve and increase conversion rates.

This is another service you can offer your clients to enable them to achieve their objectives.

5. Calls answered 24/7.

All calls are answered 24 hours a day, 7 days a week.

6. Reduction in aborted sales.

With the clearly specified time scales their is predictability and time wasting buyers are quickly indentified.

7. Increased exposure of properties.

Extensive marketing and PR will expose your properties to a wider audience and increase traffic to your own web site.

We are taking on agents throughout the UK and would welcome any enquiries to join the PropertyPortalAuctions.com auction service.

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