SELLERS

Welcome to the exciting world of online property auctions. Please familiarise yourself with our 'How it works' section to fully appreciate how the online auction works.

The following is meant to be a brief guide to assist you in selling a property through Nethouseauctions.

• Contact your participating Nethouseauctions estate agent who will inspect your property and advise you on its suitability for auction. If agent-free, please click here.
  
  
• Discuss with your estate agent an auction date, Guide Price, viewing arrangements marketing, etc.
  
  
• Sign a copy of our standard Auction Agency Agreement in conjunction with your estate agent to sell your property via auction and agree a Guide Price
  
  
• Your agent will register on Nethouseauctions (if they haven't already), immediately upload details onto the Nethouseauctions website, which will automatically be advertised on the main Nethouseprices website and commence marketing.
  
  
• Instruct your solicitor. As well as preparing all the legal work, they will need to sign the Solicitors Undertaking on your behalf. If solicitor-free, please click Solicitors (England & Wales) or Solicitors (Scotland).
  
  
• Your solicitor should be familiar with the conventional auction process. They will prepare a standard auction Legal Pack within the first 2 weeks of the marketing period, ready to be sent out to the solicitors of all interested parties. This will include the Auction Contract.
  
  
• Sign your part of the Auction Contract or authorise your solicitor to do so, on your behalf. This will enable your solicitor to exchange contracts on your behalf when the auction has ended (subject to reaching the reserve price).
  
  
• Your agent will be able to gauge the level of interest during the marketing period, and will agree with you the Auction Reserve Price 2 days before the auction is due to commence. It will be your responsibility for completing the Reserve Price Agreement and sending this back to Nethouseauctions.
  
  
• Once the auction commences, visit the Current Auction section, sit back and watch the action!!!!
  
  
• All Bidders must pre-register. In order to register each Bidder must pay their solicitor a non-refundable deposit, pre-sign the Auction Contract and authorise their solicitor to exchange on their behalf, should they be successful.
  
  
• Contracts will be exchanged within 24 hours of the end of the sale (you will already have authorised your solicitor to exchange on your behalf).
  
  
• Legal completion will take place, usually 28 days thereafter.
  
  

Please note that all monies are handled through respective solicitors.