Fisher German launches new Conditional Property Auction Initiative

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 Despite the current economic climate, Fisher German’s recent traditional auctions have been highly successful and very well attended, achieving a 76% success rate. On the back of this they are launching the new concept of Conditional Auctions, in an effort to open up auctions to the wider market.

Auctioneer, Andrew Ranson says, “The current market is absolutely ripe for this sort of innovation.  This new type of auction is appealing to realistic vendors who either need or perhaps have been struggling to sell. There are numerous advantages of auctions, but delivering a legally binding deal is key to many at the moment.”

So how does it work?
 
Bids will be made in the usual way and the successful purchaser will:

• Pay a £3,000 non-returnable deposit - rather than 10%
• Sign the sale contract as normal, but this will be conditional on obtaining finance.
• Have six weeks to get finance in place and a further two weeks to complete.
• Only if finance is refused directly due to a fault in the property, such as its structure of Title, will the deposit be returned to the buyer.

For further information please contact Andrew Ranson tel 01295 226288 or email andrew.ranson@fishergerman.co.uk 

Click here to see the latest Property Auction Update 

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