Find your perfect property this summer
National Property Auction
Thursday 25th August 2022 at 10:00am
Addendum
You can find the addendum for this month’s auction by taking a look at the link below.
The addendum is where you can find any last minute updates or changes to the lots on offer – it will be updated up until auction day, so if you’re bidding on Thursday, make sure to regularly check back to stay in the know.
Welcome to your August
auction catalogue
Andrew Parker
Managing Director & Auctioneer at
SDL Property Auctions
It’s my pleasure to launch the catalogue for our August National Property Auction, taking place on Thursday 25th August – with 179 lots featuring this month.
We have another great selection of properties in August’s catalogue. This month features ready to go buy-to-let investments, countryside cottages in need of some TLC,, commercial opportunities and everything in between.
With plenty of properties for you to browse through this month, simply use the view all lots button at the end of this section to see the full range of 179 properties on offer.
Deep within the Derbyshire countryside in the beautiful village of Wetton, is lot 60 – a charming stone built three double bedroomed detached period cottage. In need of a comprehensive scheme of improvement and upgrading, the property is being offered for sale in partnership with John German. With a highly sought after location in the heart of the Peak District, as well as the potential to put your own stamp on a property, this has an attractive guide price of £250,000+ plus.
Lot 60
- High Withins, Buxton Lane, Wetton, Ashbourne, Derbyshire DE6 2AF
- Guide price*
- £250,000+ (plus fees)
Anyone looking for a holiday let investment need look no further than lot 81, Flat 1 within the Exchequer Grange development in Bournemouth. The apartment is managed by Guest Stays as serviced accommodation by the current owner. The current daily rate is between £85-90, with a 77% occupancy rate, making the current income in excess of £24,000 per year – equalling a 25% yield on its guide price of £95,000+ plus fees. Flat 9 within the building is also going under the hammer in August’s auction, making these a great pair of holiday homes!
Lot 81
- Flat 1 Exchequer Grange, 17 Wootton Gardens, Bournemouth, Dorset BH1 1PW
- Guide price*
- £95,000+ (plus fees)
If putting your own stamp on your first home is on the top of your agenda, then the perfect opportunity can be found in the village of Llanymynech in Shropshire. Lot 112 is 3 Ashfield Terrace, a characterful terraced cottage in need of some modernisation and repair. With a guide price of £66,000+ plus fees, this is a great chance for anyone looking to get on the property ladder in the area and get their hands on a home with bags of potential.
Lot 112
- 3 Ashfield Terrace, Llanymynech, Shropshire SY22 6EU
- Guide price*
- £66,000+ (plus fees)
On the other hand, perfect for anyone looking for a ready-to-go buy-to-let investment, is lot 38 – 24 The Green in New Malden, Surrey. This traditional semi-detached house sits within a popular residential location, within easy reach of a full range of amenities. Currently let at £15,595 per annum, with the rent rising annually in line with the Retail Price Index of 2%, this is a fantastic chance for any landlords looking to bolster their portfolios. With a guide price of £450,000+ plus fees, it’s not to be missed.
If you’re interested in bidding in this month’s auction, you will need to register before midday on Wednesday 24th August – to do so, simply head to our quick and easy online form here. It’ll take no more than a few minutes to complete and costs nothing to sign up.
There’s also a handy guide below which takes you through all our remote bidding options: online, on the phone and by proxy, so that you can bid in the way that you’re most comfortable with.
Our next National Property Auction takes place on Thursday 29th September. If you’re interested in selling by auction, take a look at our frequently asked questions below or contact our friendly team on 0800 046 5454.
Frequently asked questions
Over the past few months we have naturally received some questions from our bidders about how the buying process works. Largely we are operating as we always have been, we’re simply not able to see you in the auction room when you bid. We’ve put together these frequently asked questions to help guide you through your auction purchase.
A reserve price is the price stated as the lowest acceptable figure by the seller. This figure is confidential between the seller and auctioneer.
No, not always. The guide is an indication given by the auctioneer. Where the guide price is a bracket figure, the reserve cannot exceed the top end of the bracket price. If the guide price is a single figure, then the reserve can be up to 10% in excess of this.
After the auction has ended one of our team will contact you to advise you of the result.
Yes, and these vary depending on the method of sale associated with the property and the country in which you are purchasing. These are listed below – please note the reservation fee does not contribute towards the purchase price. Any further additional costs, which are payable in addition to the purchase price will be included within the Special Conditions that are attached to the Contract. Therefore all prospective purchasers must inspect the legal packs thoroughly. We also strongly advise prospective purchasers to request a legal representative reviews the pack for every lot that you may wish to bid on, so that you are fully aware of any additional costs, if applicable.
England and Wales
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Reservation Fee is subject to a minimum of £6,000.
Scotland
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000.
There are a number of options when selling by auction which can include paying no fees at all and having the buyer an additional fee instead.This is often an attractive option when you are selling due to a bereavement or a divorce and you have limited cash prior to the auction to fund the sale. Alternatively as a seller you can pay an initial fee and commission price for the sale of the property, meaning the buyer doesn’t have to pay anything extra, maximising the final sale price of the property
Regardless of which auction route is selected, there are solicitor fees to prepare the legal pack for your property, which typically costs around £350 to £500. After your home is sold, you will also need to instruct a solicitor for the conveyancing of the property, which can cost anywhere from £450 to £750.
Yes, if a reserve price is not met during the bidding process, then the lot will not sell. We continue to market our unsold properties after the auction and if a post-auction sale is agreed it will be carried out under auction conditions.
Bidding registration
Bidding registration closes at midday the day before the auction.
Registering to bid in one of our National Property Auctions is quick, easy and painless. By completing our online form, you can register for bidding online, on the phone and by proxy, meaning you can bid from the comfort of your own home. There’s no need to wait for the legal pack to be completed before registering, there’s no obligation to bid on the day and there’s no money taken prior to bidding.
What are sealed bids
when buying
a house?
With the housing market remaining as competitive as ever, with buyer activity up 26% on June 2019, it’s no surprise there has been an increase in sealed bids being used by sellers across the country in an attempt to get the best result for their property. But what are sealed bids and how are they used? Here we explain everything there is to know about sealed bids, and how auctions can provide a more transparent alternative.
Sealed bids are usually used when there are a number of people interested in buying a particular property. They will be asked to submit their offer for the property in a sealed envelope by a certain deadline, and will not know what the other parties have bid – in most cases, the highest bidder is usually the winner.
Initially, the property will be marketed as usual – however the estate agent managing the sale will ask all interested buyers to make a ‘sealed’ offer by a specific date and time. When the deadline has passed, all bids are opened and the estate agent advises the seller of the bids received, freeing them up to choose which one to accept. The successful bidder is then contacted to proceed with the sale, until contracts are exchanged.
Whether you’ve attempted to buy a property using sealed bids before or not, it’s obvious that there can be disadvantages to the process. You could be more likely to overpay for the property, or feel rushed into making a higher bid than you were initially considering making.
There’s also the risk of being gazumped – this is when you have an offer accepted on a house, but the seller pulls out if they then get a higher offer. This can be more likely to happen through a sealed bids process. It’s because of these reasons (and more) that insurers won’t offer Home Buyer Protection Insurance for a sealed bid purchases, as the risks of a sale falling through are much higher.
Auctions, on the other hand, can provide a great alternative for both sellers and buyers with a much simpler process, all while benefitting from competitive bidding and transparency. The transparency offered by auctions can attract more bidders, which means a greater chance of achieving a higher price.
For buyers or sellers who’ve experienced the horror stories of broken chains and fall-throughs, auctions have a fall-through rate of less than 1%, due to the fact that the successful bidder either exchanges at the fall of the hammer, paying their deposit in doing so, or pays a non-refundable reservation fee which commits then to the purchase.
Auctions are also speedy business! Completion is set within a fixed time frame, usually between 15 and 40 working days depending on the sale type, meaning you don’t need to be worried about your chain collapsing or spending weeks finalising a move in date.
So, whether you’re a buyer, seller, or an estate agent looking to offer an alternative to sealed-bids, we can help. Simply get in touch with our friendly ream on 0800 046 5454 today or take a look at our FAQs to find out more.
Remember to tune in!
Our Auction Events are broadcast online, live from our auction studio in Nottingham.
It’s really easy to tune in and watch on the day. The auction begins at 10:00am and will run throughout the day, with our each of our auctioneers taking to the rostrum. Simply visit our website where you’ll be able find a link to the auction on the day or follow the link below!
Our buyers terms
If you’re planning on bidding at auction, it’s really important that you do your due diligence prior to the auction – part of which is reading our buyers terms which you can find below. Make sure to read them in full to ensure you’re prepared to bid.
Guide to additional fees
Important notice relating to fees, costs and charges payable by the buyer in addition to the purchase price.
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs or reservation fees. All prospective buyers are advised to inspect the legal documents including the contract and special conditions of sale and seek their own independent legal advice as to the full cost of purchasing a specific property.
Homes under the Hammer
If you’re successful in this month’s auction, you could take part!
Despite the current restrictions the Homes under the Hammer team are still looking for properties to feature in upcoming episodes of the show, even though they can’t be in the auction studio. If you’re interested in taking part in the programme or would like any information about what is involved in taking part please contact Vaila Walterson on 07814 079910 or Emily Hazlitt on 07966 167076 or alternatively use the button below to contact them via email.
Legal Packs
We recommend reading the legal pack prior to the auction, to make sure you’re aware of all the information before bidding.
It’s really important that you take a thorough look through the legal pack for the property you’re interested in buying before placing a bid, as they lots of important information regarding your purchase. We recommend going through the pack with your solicitor prior to the auction. To view the legal pack for a property you’re interested in, simply click through to the lot using the list linked below, and select ‘legal pack’ on the right-hand panel.
