Allsop has been the leader in the UK's property auction market for many years and, as a result, we have the people, depth of experience and reputation necessary to hold well attended auction sales. We shall ensure a successful and profitable outcome for our clients’ property disposals.
If you would like to discuss the selling process with a member of the team, or if you wish to discuss a property you might wish to sell at one of our auctions, we would be happy to hear from you.
For full contact details visit our contact us page or:
For residential properties please call: 020 7494 3686
For commercial properties please call: 020 75436780
To give you the best possible advice, all we will need to see initially would be:
To contact one of our partners, in confidence, for a property appraisal please click on one of the links below:
Most properties are suitable for sale by auction. However, auction may not always be the best route to market. We will advise you if we feel that there may be an alternative method of sale which might better suit you or the property.
We have a wide range of vendors of both residential and commercial property ranging from owner occupiers and private investors to pension funds, property companies, receivers, trustees, banks, government bodies and local authorities.
Certainty of sale – Selling a property at auction offers an exceptional degree of certainty. A binding legal contract is formed on the fall of the hammer. The buyer is committed and no further negotiation is allowed.
Best price – If prepared properly a property auction should generate a number of bidders for each property. The atmosphere created can be extremely exciting and the process of competitive bidding will help to achieve best price on the day.
Speed – The entire process, from instruction to exchange of contracts, can usually be concluded within as little as four to eight weeks.
Transparency – A property auction sale is totally transparent and provides the seller with the assurance that the best possible price has been achieved in open competition.
Multiple disposals – A large number of properties can be included in an auction and sold on the same day
Our initial consultation offers a no obligation appraisal. We will advise you whether a sale by auction is the best way to achieve the highest price. If so, an estimated sale price and recommended reserve price will be provided.
2. Guide Prices
We will agree a guide price with you which will reflect your minimum acceptable sale price. We will endeavour never to mislead our buyers by quoting a guide price that is lower than the agreed reserve price.
3. Fees and Terms
After our initial appraisal we will agree with you our terms and conditions of appointment, including entry fees and commission.
4. Proof of Identity
Under Anti Money Laundering Regulations, we shall require proof of your identity and your address before we can market your property. If you are representing the seller, these checks will also have to be made on the seller.
Once we have been formally instructed, the property will be inspected by one of our surveyors, measurements will be taken where appropriate and the property will be photographed.
Draft sales particulars will then be sent to you and your solicitors for approval. Your solicitor will be asked to prepare a legal pack, which will be made available on our website during the marketing period.
Every property in our auction catalogue benefits from wide exposure through intensive marketing campaigns.
Online catalogue - We send regular email alerts to over 70,000 potential bidders who are registered on our website to receive details of our online catalogues.
Website - Our website offers many features to buyers. These include search facilities, personalised Watchlists, remote bidding options and live streaming of the auction.
Portals - We list suitable properties on the major property search portals
Advertising - We run extensive online advertising campaigns for each auction and selected individual lots. We also run printed adverts in key publications.
Targeted Marketing - Alongside this broad marketing, we target individuals who have previously expressed an interest in similar properties, as well as adjacent occupiers, local agents, local developers, builders and property companies.
Printed catalogues - We distribute printed catalogues to selected prospective buyers.
During the marketing period, all interest and enquiries are logged. We maintain close contact with all serious buyers and record the number of enquiries made. This allows us to advise you of the strength of interest in your property, as well as reporting any price indications or offers made prior to sale.
8. Online Documents
Our online legal system deals with requests for documents. We will keep you advised of the number of legal packs downloaded by prospective bidders during the course of the marketing.
9. Reserve Price
Two or three days before the auction, we shall advise and agree a reserve price with you in the light of the feedback received during the marketing campaign. If necessary, the guide price or guide range may also need to be adjusted at this point.
10. Auction day
Well attended auctions – During the auction day 500-1000 people attend the sale room, creating the buzz and atmosphere crucial to a successful outcome. Buyers are also able to bid remotely, either online, by telephone or by proxy.
Binding Contracts - On the fall of the auctioneer’s hammer there is a binding contract and the purchaser is legally obliged to complete the purchase. A 10% deposit is paid to Allsop LLP in the room (minimum £2,000). A buyer’s fee is also payable. The exchange of signed memoranda is supervised by our solicitor shortly after the fall of the hammer.
Buyer checks - Under the Anti-Money Laundering Regulations, we shall carry out full checks on all buyers and bidders.
If your property does not sell on the day - In the less likely event of any lot remaining unsold, we normally expect our instructions to continue for a period of 45 days after the sale. We will contact all previously interested parties and invite best bids. In our experience sales are more likely to be agreed immediately following the sale, when post-auction interest is at its strongest.
Once the property has sold, our standard conditions require for completion to take place 20 working days after the auction. This may be varied by your solicitor in the Special Conditions of Sale.
Allsop is the UK’s leading auctioneer of commercial and residential property
Impartial advice – When advising on sales we always consider whether a property is suitable for sale by auction or private treaty. Allsop offers both methods. Our property auction and private treaty departments effectively work as one team, ensuring that our advice is impartial and carefully considered.
Wide exposure – With our extensive marketing knowledge and contacts we guarantee wide exposure to the market through intensive marketing campaigns.
Experience & service – Allsop has been synonymous with property auctions for over 100 years. Our auctioneers are amongst the most experienced and respected in the industry. We offer a streamlined service aimed at securing the best possible price for your property with the minimal amount of stress.
We achieve results – We consistently sell over 80% of all properties entered into our auction.