Selling Property at Auction

Maximise your marketing and selling opportunities by using Andrew Craig Auctions. Andrew Craig works in partnership with Agents Property Auction, the largest Auction House in the North East, to allow our clients to buy and sell through Auction.

The Agents Property Auction was created in 2010 by Auctioneer Richard Francis MNAVA. Working alongside his wife Alison they both have over 25 years’ experience in successful property auctions, they have seen first-hand the benefits of auction to thousands of buyers and sellers.

Why Sell at Auction

It's fast

We have 11 Auctions a year which means you never have long to wait until the next Auction! Once the gavel falls there is a set timescale to completion, often as fast as 28 days later.

There is No entry fee and we work on a No Sale - No Fee basis. Unlike many other Auction Houses, we do not charge a buyer a fee for buying at Auction, called a buyer’s premium. This could be as much as 6% of the price (minimum of £6000) which would put off many buyers from buying your property.

Achieving the maximum price is paramount. Sometimes properties come onto the market and in order to achieve a sale the vendor has to reduce and reduce the price.

Auction is the opposite, we start with an attractive price guide to stimulate interest, enabling us to achieve a higher selling price.

Auction is a great marketing tool, in maximising the selling price through high profile marketing, inviting serious buyers, in a genuine position to proceed, to accumulate in one place encouraging direct competition, resulting in the best price being achieved for your property. Many sellers actually receive bonus prices for their properties at auction, as two or more people battle for the property in the auction room.

What is the value of your home? Is it what an Estate Agent advises, what you would like to achieve, or what someone is prepared to pay for it? The true value of any product is what someone is willing to pay for it. The aim of Auction is to get as many viewers through your front door as possible, stimulate competitive bidding and ensure you receive the optimum price.

Why limit the exposure your property is given? Comprehensive marketing is the key! With an unrivalled selection of Partner Agents, coverage is provided by over 50 North East residential Estate Agency branches. We offer dynamic and extensive promotion in the press, the internet and the auction catalogue.

Get the best of both worlds, as auction will attract the local buyers as well as national and international buyers. Auction is designed to accommodate both private residential buyers as well as appealing to cash rich serious investors.

You are in complete control, as you set a reserve price and the property CAN NOT be sold for a penny below, without your authority. Once the gavel falls the price is set and is non negotiable. There are no negotiations or withdrawals because of survey results and no last minute reduced offers either (gazundering).

The buyer places a non returnable financial deposit on the fall of the gavel. In 2020 APA experienced a fall through rate at Auction of just 3%, in comparison to a fall through rate for the whole of the UK at 43%.

We charge the seller a reasonable fee unlike many other auction houses who charge the buyer a fee. When the buyer pays the fee this reduces the demand as many buyers just won’t bid. Those that do bid will reduce their bid by at least the cost of the fee that they have to pay and this can be as high as 6% to a minimum of £6000.

On the fall of the gavel agrees to a timescale giving you peace of mind of an agreed exchange date. In many cases exchange happens on the fall of the gavel.