Get in touch with Knight Frank Auctions to sell your property
Launched in 1989, Knight Frank Auctions sells residential and commercial properties nationwide and its headquarters is located in London. The business works to find buyers through auctions for properties in both long-established and just-emerging markets, and does so with a huge team of more than 20,000 employees working at 488 offices in 57 different territories.
One aspect of its work that Knight Frank Auctions prides itself on is its commitment to environmental, sustainability and governance goals, also known as ESG. The company takes steps to reduce its pollution impact, such as reducing its waste output.
Knight Frank Auctions offers free appraisals for any commercial or residential property that you might be interested in trying to sell at auction, and buyers are able to view the entire catalogue of properties listed for upcoming sales online. Auctions take place on a regular schedule, as often as once a month, and they are held live online from a studio in London. Buyers must register in advance and they can place their bids via the internet, a telephone call, or a proxy bid in which they specify a maximum bid that someone from the auction house can place for them.
Telephone number: 020 3944 6318 for commercial and 020 3869 4758 for residential
Email: Use the contact form available at Contact form
Website: https://www.knightfrank.co.uk/property-auctions
Address: 55 Baker Street, London, W1U 7EU
Top tips to know about the process of auctioning your home
When you’re ready to sell your property, auctioning is an option available to you. You and the auctioneer will agree to a reserve price, which is the lowest value at which you can accept your property selling. Note that you might only receive one bid at this price, and that means your property will sell, so be sure to set the reserve price at a level which will mean you are still able to make money from the sale.
Of course, the goal is to have several people interested in possibly buying your property, in which case they will try to then outbid one another, which will hopefully drive the final sale price significantly higher than the reserve value. Yet auctions may have uncertainty, and it is also possible that your property might not receive any bids and therefore will not sell.
It’s also useful to know that you will have to pay commission to the auctioneer for the work that they will do in selling your property, and you’ll have to deduct these fees from the net profit that you can expect to make from the sale.
Answers to queries about Knight Frank Auctions
Should you receive any bids on your property that are at least the same value as the opening minimum reserve price that you set, that is considered a legally binding agreement to buy your property and the winning high bidder typically has 28 days to complete the purchase.
According to its website, the company has experience with successfully auctioning a number of leasehold and freehold properties, including townhouses, apartments, country houses, rural homes and more, as well as prior successful sales for a number of commercial properties.
Yes, the company has a long-established team that can help potential buyers with arranging a mortgage to help pay for the cost of buying one of the properties listed for auction, so that buyers meet the goal of completing the purchase of an auctioned home within 28 days.
