At Lodestone, we have teamed up with Whoobid to provide a slick, easy and transparent way of selling property. If you need to guarantee a sale by a specific time and/or have a property which you feel may be specifically suited to a sale by auction, we would be pleased to advise and discuss the process in more detail.
Selling at auction is often a daunting thought, but with Lodestone we are streamlining the process for you. Selling can indeed be quick and easy, you can watch the auction live from the comfort of your home and you can set a reserve so you do not have any surprises. Also, you will pay 0% Commission to sell your property this way!
We offer two different types of online property auction, traditional and modern method. Outlined below are the two types and how they differ.
Our traditional auctions enable a property to be sold through our online platform in a way that is consistent with auctions you may have come across before: namely that exchange of contracts happens on the fall of the hammer to the winning bid over the reserve price, with completion taking place 28 days later. We have now given this a modern twist by taking the whole process online allowing buyers to bid from the comfort of their own home.
Modern Method Auctions
This concept is a little different. The process works in exactly the same way as the traditional auction, however at the end of the auction, the winning bidder (over the reserve price) enters into an exclusivity agreement wherein they have 28 days to exchange contracts, otherwise they lose their deposit. This approach allows more time for buyers to arrange such things as finance that are often tricky with traditional auctions.
For further information please do not hesitate to contact us on 01749 605099 (Bruton) or 01749 605088 (Wells).