Information you’ll need to contact Allsop (Residential) Auctions
You might be able to find a buyer for your home if you use the services of Allsop (Residential) Auctions, which has more than 100 years of experience in successfully auctioning a large range of properties. The company can auction freehold and leasehold houses, flats and other types of residential properties, regardless of their shape, condition, size, type, and even any potential negative features.
Allsop (Residential) Auctions typically holds auctions for residential properties as often as once a month or once every two months, so you should be able to find an auction date that works for whatever schedule you have in mind for selling your property. The auctions currently take place through an online livestream, and potential buyers can register in advance through the company’s website in order to be able to bid on properties during the auction.
The auction house also makes available on its website the results of its auctions, so that sellers and other can get an idea of how successful the sales can be. Between May 2013 and August 2021, Allsop (Residential) Auctions says its current most successful auction took place in May 2015 when the total value of residential properties sold exceeded £92 million.
Telephone number: 020 7494 3686
Email: Contact form
Website: https://auctions.allsop.co.uk/residential-auction-view
Address: 33 Wigmore Street, London, W1U 1BZ
Key facts to know about selling a residential property through an auction
Selling your leasehold or freehold flat or house through an auction is relatively easy; you simply contact an auction house and they will do most of the hard work. They’ll be responsible for creating a listing that describes your property and includes photographs of it, then advertising that listing to generate interest from potential buyers, and hosting the auction itself.
You will have to work with the auctioneer to agree on a minimum reserve price for your home. This is the lowest possible value at which you are willing to let your home be sold. Auctioneers typically want you to set this as a value that might be below your comfort level, simply because they believe it will attract most interest from buyers, with the result that during the auction several people will try to outbid each other to buy your home, pushing the final price up. Although this can often happen, note that you might only get one bid at the reserve price.
There could be a slight wait of a few weeks between when you enter your home for sale and the date on which the auction takes place, and you could also face another few weeks of waiting after a successful auction whilst all of the legal documents for the sale are completed. But it’s still often a faster way for selling your home when compared to using an estate agent’s services.
Just remember that auctioneers will charge you fees in exchange for the work that they do in selling your home, and you’ll have to budget for these when calculating how much you might be able to make from the sale. The good news is that in certain situations, it might be possible for the top winning bidder pay this commission instead.
Allsop (Residential) Auctions: top questions and answers
The company makes the results of each auction available on its website and says it routinely achieves a success rate of at least 95 percent or more properties sold. In recent history, its best auction occurred in May 2015 with a total transaction value above £92 million.
You should find that selling your home at an auction is generally speedier than using an estate agent. If someone successfully bids to buy your property, they usually have about 28 days to finalise the sale although in some cases this might take more or less time.
Yes, the auction house has separate divisions that handle residential properties and commercial properties, and they might be able to help sell any commercial property that you own.
