ONLINE AUCTIONS BROCHURE SP

SELLINGPROPERTY WITHBROWN&CO ONLINEAUCTIONS Understanding the types of Auction - Conditional Auction V’s Traditional Unconditional Auction Conditional Auction is a ‘bid-up’ approach to selling residential property as opposed to Private Treaty, which is ‘discount- down’ method, commonly used by the estate agents. The latter aims to find the one right buyer, as opposed to the former, which establishes the best price and best buyer after a short defined period of competitive auction bidding. Auctions are individual lot-based ‘eBay’ style as opposed to amulti-lot public auction event-based approach that is the norm for Traditional INRoomauctioneers. The conditional auction approachmakes the property available to a wider buyer pool, allowing buyers requiringmain-stream residential mortgage finance to buy. Unconditional (Traditional Auction) Traditional unconditional auction provides a greater degree of certainty over Online Conditional Auction, as the traditional public auction process has the buyer under binding contract at the fall of the hammer (gavel). The buyer is required to pay over 10%of the purchase price immediately and typically contract completion is scheduled for 28 days. Unconditional auction is normally restricted to cash buyers or those needing finance, this is sourced via specialist short term lenders and not mortgage funders as can be the case with conditional auctioneering. At Brown&Co we can help you decide which route is most appropriate for you and your property. Property Types for Online Auction Sale Our online auction platform is aimed at selling conventionally constructedmortgageable condition residential flats, houses and bungalows. Residential properties that are vacant, tenanted or owner occupied, whereby vendors are not dependent upon a related purchase, are suitable for online auction. Online Conditional Auction (ModernMethodof Auction)