Buyers’ Administration Fee
Please note there is an administration fee of £275 inlcuding VAT on each lot. Payments can be made by cash or cheque following the ID certification.
Are you the NEW Owner of the Property?
Good luck on the day and we hope you are successful with your quest to purchase. If you are unsure of any aspect of buying or selling, do call our offices, our staff will only be too delighted to assist you in any way.
Which properties sell best at Auction?
Suitable lots include houses requiring complete or partial modernisation.
Houses with long-term sitting tenants.
Student investment properties.
Ground rent portfolios.
Building plots and development sites.
Properties with structural problems.
Land for grazing or equestrian use.
Buildings for redevelopment.
Unique properties in areas where demand is high and you may already know of several where people have said ‘I’ll buy that at any cost’.
Is my property suitable?
See above. The key question in any Auction sale is ‘does the property have potential?’. If the answer is Yes, it’s a suitable Auction property.
Auction versus Private Treaty and the Difference therein.
To sell at Auction all the legal work is done in advance. The Auction usually takes place after a marketing period of 4-5 weeks and at the fall of the hammer there is a legally binding contract with a 10% non-refundable deposit and a completion date of 28 days later. With a Private Treaty sale, the legal documents are prepared once the property has been Sale Agreed subject to Contract. In these straitened times, buyers more often than not choose to renegotiate once the contract is issued or a survey has been undertaken.
Why use Eadon Lockwood & Riddle ?
We cover a wide area of Derbyshire and Sheffield. Auctioneer Nick Riddle has been auctioning for in excess of 18 years and has seen many different properties sold by auction through the course of those years including the first £1,000,000 house sold by auction in Derbyshire and the first £2,000,000 house sold by auction in Sheffield.
Most auction buyers have access to specialist sources of finance to assist with their purchase as traditional lenders no longer fund small scale property refurbishment following the property crash and reviews of their lending criteria. We have teamed up with a leading business finance lender who are financial services experts and they will be on hand to give you assistance should you not be fully in funds to complete in 28 days.