Any auctioneers about?

[Fuckingfuckssake]

Hi, could anyone advise me if there is an option to withdraw a property from auction before the auction date to sell it privately? And if so is there a financial penalty?

Bump.

can you not speak to the auction house?

It'll come down to the terms of your contract. What does it say?

I’m hoping to buy a property privately as we can’t complete within 28 days. Auction house gatekeeping information and seller is looking into the contract, I’m just wondering if anyone might know anything pertinent.

Bump again!

In answer to your question - as above, the specifics will depend on the seller's contract with the auction house.

However, generally speaking the answer is yes, and many properties listed for auction sell before the auction. The auction house's main interest will be in getting their fee, so be aware of needing to factor that in...

Thank you, to be clear though they need to withdraw it from auction altogether to sell it to me. We’ve offered to cover fees.

As others say it does depend on their contract. We sold a house through auction last year. The terms were that if we did withdraw it, we had to pay the selling and marketing fees anyway, a breach of contract fee and the commission that they would have got from a sale. So it possibly can be done for them too but it can end up being quite costly

yes that would be the process - withdraw from the auction so on the auction day they would say something like Lot 432 withdrawn or Lot 432 sold prior to auction...

If you look on rightmove you can find properties that are up for auction and later are marked as sold prior to auction.

still all will come down to the individual contract and then the reasonableness of the auction company ref. financial consideration