What do Auction Providers Do?

Looking for properties for sale? Turn to an auction provider

Buyers and sellers have relied on auctions and auction providers for most of recorded history. The first auctions recorded have shown that auctions have been used since as far back as 500 BC in Greece. After the fall of the Roman Empire, auctions were not commonly used. However, there was a large revival during the 17th century, when candle auctions and later auction houses became the talk of towns. Today, many auctions, including property auctions by Everest Estates, are conducted online.

Everest Estates offers online auctions 24 hours a day, seven days a week. We follow the modern approach for auction property sales. With online auctions, prospective buyers still pay a non-refundable reservation fee and sign a form, which commits them to a purchase. Our auctions last for 56 days, allowing our online auctions to be accessible to all potential buyers, including those seeking to mortgage for residential purposes, investors and cash buyers.

We provide online auctions for both property sales and property lettings, with listings in and around Redbridge, Essex; Ilford, Essex; Goodmayes, Essex; Romford, Essex; Dagenham, Essex; Barking, Essex; and Newham, East London.

Everest Estates also provide traditional auction options, which occur at a live event. During these events, buyers make a 10% deposit and sign a contract to confirm their offer and intentions to buy. Full completion is then completed 28 days after the in-person auction. Due to the limitations of traditional auctions, these are more tailored for those looking to sell or purchase a property quickly, are not in a chain and that won’t be buying with a mortgage.

Whichever auction avenue you take, Everest Estate will provide a Buyers Information Pack for each property for you to peruse at your leisure. We do encourage buyers to conduct their own information in addition to reading this packet.

If you are interested in buying or selling a property through Everest Estates, please contact us or visit our website for more information. We’d be happy to assist you in any way that we can.