Archive for April 30th, 2009

Auction Finance

April 30th, 2009 by ray

Property auctions provide a great opportunity for you to pick up a bargain.  Buying at auction usually means that you have a very limited time in which to complete.

Our partner organisation, Mortgage Avenue can often provide up to 100% of the purchase price, allowing you to complete within the required time until you get your long-term finance in place or to bridge the gap if your arranged funds fall short of your final bid – Mortgage Avenue can offer the difference.

· Decision in Principle within 1 hour

· Money in 24 hours

· Up to 100% of purchase price

· No standard criteria

· £30,000 to £3,000,000

A link to Mortgage Avenue is available on our partner page.

Category: Auctions | No Comments »

Buyers Premium

April 30th, 2009 by ray

The ‘buyer’s premium’ is normally a percentage additional charge on the ‘hammer price’ of the lot payable by the winning bidder.  It is made by the auctioneer to cover his ‘administrative expenses’.  At a Get Set 2 Move Auction all bidders agree , to appoint an independent lawyer and surveyor.  They provide legal title, building condition and mortgage valuation information equally to all bidders before the start of the auction.  The cost of provision of this information is recovered through a fixed fee buyer’s premium (approx £1,000) payable by the successful bidder, see :- http://en.wikipedia.org/wiki/Buyer’s_Premium

Category: Auctions, Bidding | No Comments »

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