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Thinking of Selling on Auction?

Posted on Dec 01 2015, in Resources for sellers

The process is fast

Once the Auctioneer is commissioned to do the job, the auction generally takes place within thirty (30) days.

Auctions attract qualified buyers

The people at auctions have the means and the desire to purchase the property/business.

Auctions create urgency

A time is set for the auction and buyers compete to win the bid.

Terms and conditions are transparent

The entire process takes place in a public environment.

Your interests are protected

You specify your reserve price.

True value is realised

Interested bidders compete with each other, often resulting in a sale that exceeds your expectations.

The auction process is conclusive

Once the hammer falls, you have two (2) working days (the Confirmation Period) in which to accept the offer, after which the deal is done with the winning bidder.

The final bid amount is the amount you, as the Seller, will get – the winning bidder pays the Auctioneer’s fee, which is 10% over-and-above the final bid amount plus VAT.

Auctions allow you to realise profit on an investment – this way you can move to a larger, or smaller property, make a lifestyle change, or realise the cash flow you need for other business priorities.

How to go about selling on auction

1. Contact the Auctioneer

Contact the ALDES Auctioneer or Any Aldes Broker to arrange an appointment

Have a copy of your ID document, proof of current residence, your title deeds or a deed search, and any other relevant documents available, Business information you want to sell.

2. Decide on a price

Should you have a minimum price (the reserve) that you would be prepared to accept, this will be discussed and be agreed upon.

The marketing of your property /business will be discussed and an agreement will be reached on the campaign and the cost thereof, which is the only cost you will be required to pay.

3. Finalise the sale

You will be required to complete an agreement (Auction Listing Agreement) between yourself and the Aldes Auctioneer, granting the Aldes Auctioneer permission to market and auction your property.