Selling property and land with Pearsons Auctions

THE FIRM

Pearsons, founded in 1900 by Alfred Pearson, is one of the oldest firms of Estate Agents, Auctioneers and Surveyors in Southern England. Since that date the firm has evolved into a dynamic and professional business with an enviable reputation, remaining an independent company, and offering a personal service tailor-made to meet the specific needs of each client.

Using up-to-date technology and in-depth knowledge of local market conditions, our experienced staff are confident of achieving the best results possible when dealing with sales of all types of residential property.

Backed by experienced and professional staff, Pearsons are confident that we will remain a market leader and can offer facilities and expertise for whatever your needs may be. Whether buying or selling a property, finding a solicitor, arranging a survey, letting your property, developing a plot of land, or a valuation of your home, call the Pearsons office nearest you.

 

THE AUCTION DEPARTMENT

Based in West End, just to the East of Southampton and close to the M27, the Auction Department offers a comprehensive auction service from initial appraisal and valuation of property and land, to running one of the most successful regular South Coast public property auctions. Backed by local expertise from our network of branches and partner agents we specialise in Hampshire, including the Solent area from the New Forest in the west and into Sussex to the east, with main branches in Southampton, Winchester, Portsmouth and Fareham.

 

WHY SELL BY AUCTION

Sale by Auction is a very traditional way to sell and today the sale of property (or Real Estate) by public auction has become increasingly popular where the seller wishes to control both the pricing and the timing of the sale. This method attracts potential buyers from a wider geographical area than the more usual private treaty method with many keen buyers searching out auctions to find their ideal purchase. These include owner-occupiers looking for a new home, investors and landlords, companies, developers and professional land buyers. There is also an increasing demand from people wishing to have a project from a “Grand Design” opportunity to a smaller property requiring renovation.

At the start many are hoping to find a “bargain” so taking full advantage of their ability to buy quickly however, once a suitable property is found the buyers thoughts will invariably turn to how high they are prepared to go to win the auction. The auction is therefore one way to ensure the very best price is achieved on the day as only the highest bid will buy.

If selling a plot of land, an unusual property or a property with potential for improvement, or indeed, any property where a high level of demand can be expected, the auction will help avoid the many frustrations and delays of the usual “subject to contract” sale and the seller can be sure the highest price is reached in the room.

 

WHO SELLS AT AUCTION?

Pearsons act for a wide variety of sellers including Executors of Estates, Trustees, Companies, Liquidators, Banks, Local Authorities and Housing Associations. In fact anyone who wishes to sell without the risks and delays often associated with property transactions. The only stipulation is that the seller must be able to commit to the sale on the day.

If you are acting for an Estate as an Executor or Administrator, the auction method is ideal. There is no need to rely upon an opinion of value, the buyers decide how high they will go. There is a complete defence against any concern about dealing with the matter properly, you do not have to choose who to sell to. Once Probate is granted you can ensure you fulfil your obligation to the estate by selling in this open, fair and public way.

 

HOW IT WORKS

Properties and land being offered through the Pearsons Auction will all be subject to a confidential “Reserve Price”. This is the figure agreed below which you do not wish to sell, a safety net price to avoid any chance of selling for too little. The auctioneer will then set a Price Guide for advertising at an attractive level to ensure a good amount of interest is generated.

We will then liaise with your solicitor to arrange the necessary Legal Pack which will include proof of the title, a local search and anything else considered essential for a buyer to decide to buy. Potential buyers will then be shown the lot and we will discuss and review the results with you throughout the marketing period.

On the day, all those interested will be asked to attend the auction and bid in competition with each other. On the fall of the gavel a legally binding contract is formed and the buyer is committed to complete the purchase on a predetermined date, usually four weeks after the sale.

Click here to view the Common Auction Conditions of Sale

 

CONTACT THE AUCTIONEER

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