If you are looking for your next buy to let investment, commercial property, refurbishment project, or simply a bargain property, talk to Dr Ho Properties today to let us help with your search and acquistion.

Auction property acquisition fees for both residential and commercial properties in the UK (mainly South England, but other areas can be covered by Proxy bids or Telephone bids too):

Service 1: Auction property search and initial analysis: £35/hour

• To help client identifying what are the best properties available.
• Visit all major auction property websites/portals, and contact auction house agencies to find out more information about the property
• Research housing prices, layout, potential for extension/work/renovation of the property, rental yield and potentials in local areas surrounding the property
• Negotiate with the auction agent to see if pre-auction acquisition is possible and deciding the price range to make initial offer BEFORE auction date.

Service 2: Conveyancing related legal work: £35/hour

• Introduce local conveyancing solicitor(s) to client.
• Research and obtain legal pack and carry out early examination of all documents to spot issues (by Dr Ho Properties). Initial checks to the legal documents can identify what are missing from the legal pack.
• Passing legal pack to the solicitor appointed by the client and work with the solicitor for their report analysis. At this stage we can raise questions/queries on behalf of client based on our experiences with auction properties.
• Discuss with client in phone/WhatsApp/FB meetings with regards to solicitor report and outcome. Sometimes solicitor may suggest the property is too risky to go for. We help analyse all risks and whether they are worth taking, and how much the maximum bids can be adjusted based on such risks/issues.

Service 3: Auction property viewing/visit: £35/hour

• Enquire about viewing time and request if viewing slots aren’t available on behalf of the client.
• Booking viewing time to see the property, meeting the agent, talking to seller/tenants living there if possible to extract as much information as possible. Visit neighbours to ask about local information with regards to the area and neighbourhood.
• Obtain load of pictures of the property to make a comprehensive report for client to make better decision.
• Discuss the findings in the report with the client to decision what’s the next move.

Service 4: Attending auction in the auction date: £35/hour

• Usually property auction takes place in Central London, we will attend the auction at least 1 hour before the property LOT goes on bidding to try to understand any last minute updates/changes/special conditions added to the LOT.
• Bidding on behalf of client using our best strategy to win and yet keeping the competition mild to avoid high costing results.
• If we can win the auction, we will carry out the contract signing/binding work on behalf of the client with the auction house.
• Instruct client to make payment of property deposit or through advance arrangements of payment with other means.
• Passing the signed contract ASAP to the solicitor to start legal work towards completion.

Auction Acquisition Fees

In a successful auction case, i.e. client’s final bid wins the auction lot, the Auction Acquisition Fees is charged at the follow rates related to the winning bid.

• £3000 for properties priced £100,000 or lower
• 3% of sold price for properties priced £100,001 to 150,000
• 2.5% of sold price for properties priced £150,001 to 300,000
• 2% of sold price for properties priced £300,001 to 500,000
• 1.5% of sold price for properties priced £500,001 and above