Step by Step Guide to Selling at Auction
- Call us for an appointment, for one of the associates to inspect the property to establish whether it is suitable for sale by auction.
- A confidential “Reserve Price” is established – The Auctioneer is only permitted to sell the property for over and above the Reserve Price. (We try to reach prices relatively higher than the reserve price so it is important to set an attractive Reserve Price to keep potential purchasers interested and attract more bidders)
- An exclusive agreement with Malta Property Auctioneers Ltd. is signed for a period of up to four weeks after the auction day.
- Malta Auctioneers adopts a split commission/sharing policy. Any broker or agent that would like to introduce a potential buyer for any of the lots may do so, safe in the knowledge that their share of commission (50% of 5%) will be honored. Agents and brokers are invited to register their email addresses with us in order to be the first to learn of any new listings. Should other Real Estate Companies wish to show a property listed on auction they can do this by calling our office for an appointment.
- We offer a choice of the following Auction Fees. There are no further hidden costs.
1. €600 Registration Fee + 3.5% commission on Sale price.
2. €300 Registration Fee + 4% commission on Sale price.
3. No Registration Fee + 4.5% commission on Sale price.
Quoted prices above are all excluding VAT.
- Malta Property Auctioneers will market the property at its own expense IMMEDIATELY on the signing of an agreement. Marketing includes Letter & Email mail shots to our selected database clients, PR articles, distribution of the auction catalogue, various adverts on prominent local newspapers and magazines, TV participation & Spot advertising. (Malta Property Auctioneers Ltd. also prepares notarial searches on the property at its own expense to assure potential purchasers of clear title of the said property)
- Malta Property Auctioneers Ltd. has a team of experienced property consultants that will bring potential purchasers to view the property. If keys cannot be handed to Malta Property Auctioneers, then viewings will be set at the vendor’s convenience.
- All auction offers are unconditional and the process is public, therefore, total transparency is assured. (This transparency makes it particularly safe for inheritance properties, corporate, separation cases or simply anyone who wants a quick and secure sale).
You can call us on (+356) 2138 8402 or (+356) 9942 7491, for further assistance,
or write to us at email@example.com