Gold Star Guarantee Purchase Scheme
For one reason or another, there are many people who need to sell their property very quickly with the speed of the transaction sometimes more important than the actual selling price itself. Whilst this can be achieved, it can often result in a weak and below market selling price being obtained, a reason perhaps why many chose to sell by auction as this particular method of sale will ensure the highest and best possible price is attained and will place the seller in a much less vulnerable and moreover, stronger position. However, what if a pre agreed price that is guaranteed was able to be put in place prior to the auction and if so, how would this work?
Let us say for example you have a property that is worth £200,000 but an immediate sale and completion is required within 28 days maximum and you chose the auction method of sale to find a buyer. Across the UK, the average success rate of properties selling during an auction is between 75% and 80% so unfortunately not every single property that is included sells and this is where our Guaranteed Purchase Scheme can be of great assistance to you.
Notwithstanding a market value of £200,000, due to pressures of prevailing circumstances you may be ‘forced’ into selling for much less and this is where we can take our auctions to the next level for you.
- Stage 1
On a value of £200,000, pre-auction and based on which sliding scale you chose, a contract will be exchanged at say £160,000 with this amount a guarantee of the minimum amount you will receive for your property.
- Stage 2
Your property will remain in the action whereupon in the event it sells for a higher figure above £160,000, you will receive an additional amount on completion of the auction sale.
- Stage 3
On the above illustration and in the event the property were to sell for £190,000 during the auction, you will receive an additional amount of 50% of the uplifted value so in this instance, another £15,000 will be paid to you providing a final selling price of £175,000 in total.
Our scheme offers peace of mind and provides you not only with a guaranteed sale within the time frames you require but equally as importantly, it allows you to receive a further payment in the event the property sells for more and will stop anyone trying to take advantage of your position and buy your property too far under market value.
The sliding scale allows you chose your own parameters which in brief is that you can ask for a slightly higher guaranteed amount and a lower percentage uplift or vice versa. The option is entirely yours and we believe offers you the security and flexibility to allow you to make the choice that best suits your requirements.
This example is just that, a very simplified outline of how the scheme can help you. To understand all the terms and conditions as well as the finer detail and how it can benefit you, please contact either: