SDL Property Auction

Auctions For SDL Property

SDL Auction is a national action house that is based in Nottingham. They have been around since 2011 and started to operate on July 27^th.

They hold 40+ auctions in different locations:

Leicester’s King Power Stadium

Birmingham’s Villa Park

Nottingham’s Racecourse

Derby’s Pride Park Stadium

Stoke’s Bet365 Stadium

Chester Racecourse

Manchester’s AJ Bell Stadium

SDL seeks to target the mainstream with their sales auction events and BBC1’s Under the Hammer constantly features them. Both national and regional publications are made in order to ensure the best prices per client.

The Types Of Properties That SDL Auctions Will Usually Auction

The main focus for them is to sell residential properties and this usually accounts for at least 80% of all the listings they have. There is also commercial property selling and this is a total of 14% of all of their listings.

This means that there is plenty of opportunity for investors to purchase property during auctions.

SDL Handles The Following Types Of Auctions:

Investment properties

Residential properties

Vacant or tenanted properties

Freehold ground rents

Agricultural property

Retail and industrial properties

Land and development opportunities

Buildings Licensed premises

SDL is always happy to help people during the auctions with expert advice to help them make a decision.

What Are The Prices Ranges That SDL Specializes On?

The selling price for residential sales is of £151,307 on average.

This is significantly lower than the £176,960 national average and this means they are looking to cater to lower end markets with a focus on property prices that are much more accessible.

£1 – £100k 37%

£100k – £250k 49%

£250k – £500k 12%

£500k – £1m 2%

£1m + 0%

The SDL Auction Performance

There are 3 key elements for the SDL auction performance and these are Market Share, Customer Satisfaction and Success Rate.

Market Share of 22.5%

SDL is now seen as the largest auction house in England and in Wales.

With over 1,310 properties sold in the past year alone, they have a market share of 22.5%. The total of properties sold by auction in the last year at a national level was of 5,834 properties.

Note: Any time you are looking to find a perfect auction house. The larger their market share, the better they are as a choice.

With that said, there are smaller auction houses that have proven to be very reliable and it all depends on those who run it.

Success Rate Of 62%

Out of all the auction houses in England and Wales. SDL has a success rate that stands at 26^th in the ranks of the highest success rates.

Their ability to sell properties in their list is 62% and this is lower than the average of 67% at a national level.

Note: it is common for a higher success rate t mean that the auction house works on more realistic valuations. This means that expectations with unrealistic numbers are not so likely.

The Auction Fees With SDL Are At 4%

+ VAT

The charges of these fees will depend on selling prices in most cases. You can expect them to charge 4% + VAT for any property at £250,000 or less. They will charge 3% for any properties that go beyond £250,000.

Their commission fee is something that is paid by the buyer and the minimum fee is of £5,000 + VAT.

Note: The buyer will be paying the fee with SDL, But this does not mean the service is free for the sellers. Any additional fees that the buyer would be required to pay are also going to be reducing the amount that the buyers would be likely to bid for that property. This means the seller will end up with less.

Premium For Buyers Are There Other Charges For The Buyers Aside From The Commissions?

The buyer will pay a premium of 0% + VAT, and is subject to no less than £0 + VAT.

Note: if you are buying at an auction, you should consider that at least 25% of buyers are usually going to be paying unexpected fees. You can avoid becoming one of those people by downloading our checklist and figuring out where there may be any hidden auction fees.

Additional fees for sellers of auctioned properties.

Are There Entry Fees For The Auctions?

There is a £300 + VAT entry fee that has to be paid upfront. Here is no refund for this even if the property is not sold at the auction.

Are There Any Legal Costs To Consider In Those Cases?

Yes, but these are separate from the actions . This means that SDL has no way to let you know how much these costs will be.

These legal costs are usually the upfront costs and then the charges upon completion.

Note: The auction houses we recommend have no auction entry fees and this is negotiable in many cases.

How Is It The SDL Auction Works?

Auction Process Considerations

What Types Of Auction Processes Can We Expect Them To Be Running?

SDL runs two specific types of auctions

There are two types of auctions that people can expect to be running. You have the live streamed auctions and you have the timed auctions on their website. They both offer conditional and unconditional sales.

When they are unconditional, there is a non-refundable deposit that you pay. When this is done. The contracts are immediately exchanged and the buyer has to complete within a specific period of time of around 15 working days.

For auctions that are conditional. There is going to be a reservation fee that grants very specific and exclusive rights to purchase the property within 40 days. The difference is that the purchase is not an obligation from a legal standpoint unlike the situation with an unconditional auction.

How Are Properties Valued By SDL?

There is going to be a member of the team that carries out the appraisal in order to be abler to determine the market value of the property. This can be done online or by having someone visit the property for the evaluation. Once this is done an offer is made for the property and you can make the decision to purchase if you feel the offer is what you are expecting.

What Is The Length Of The Contract With SDL?

This is going to be running until the date of the auction but it can be extended for another 4 weeks in case the property does not sell.

Selling The Property During The Auction

If you are looking to sell your property fast, using the SDKL service could turn out to be ideal for your needs. The buyer is required to pay a fee that is going to ensure that the property is secured. Thanks to this, there is the option of 0% commission to be paid by the seller.

What Kind Of Prices Could You Expect At Any Type Of Auction?

Just as it happens with most properties on sale. The price that is offered by a buyer is not going to be something that depends on the property. It is important to keep in mind that the price of the property is going to be higher if there are more people showing interest in it during the auction.

Given that COVID-19 has brought a number of restrictions with it. But they have been eased by governments and this means that viewing appointments on-site are now possible again. They are listed on the SDL website.

There is no need to make an appointment if you are looking to attend any of the viewings at all. Just make sure that you are there at the time that is advertised on the specific day of the auction. The SDL staff will usually be there for no less than 30 minutes for each property before they move to the next one.

A queuing system outside the property is going to be required to ensure that only two people can view it at the same time. No children are permitted at the showings and it is essential to ensure that proper distance is kept between people.

With that said, a proper PPE should always be worn by people viewing the property. Anyone that feels any symptoms that could relate to COVID -19 should avoid attending the events. It is important to confirm any specific dates for appointments outside the scheduled meetings.

It is important to note that not all properties can be viewed due to their current state not being safe for people to visit. There are no video tours for this type of property either so the purchase is always at the risk of the buyer.

What Takes Place During The Day Of The Auction?

The events are usually live-streamed on the web and this means that you can see the auction take place live. You can safely place bids from the comfort of your home . This makes it an extremely powerful way to attend auctions without any hassles.

There are timed auctions that are only going to be available for a specific amount of time. When this happens, you will be able to watch the bidding and a specific number of people will be allowed to watch it simultaneously.

If the agreed reserve price is reached on unconditional sale terms. The lot is sold and an exchange of contracts will take place immediately. The non-refundable 10% deposit will be required immediately. This is to a minimum of £5,000. You can expect 15 days to run for the unconditional sale to be concluded once the exchange happens.

If the agreed reserve price is reached on conditional terms, the non-refundable reservation will grant the buyer the rights to purchase the property within 40 days.

Is It Possible For The Property To Be Sold Before The Auction Takes Place?

There are some cases when a property will be withdrawn from the auction due to it being sold earlier. It is important to check back and find out if this is the case.

What If The Property Is Not Sold During The Auction?

In the case that the property is not able to sell during the action. You will be able to see a contract extension of 4 weeks. There will be a post-auction sale arranged by SDL in order to ensure the best outcome. The lot can also be added to the auction that follows and there will be no extra cost.

In the case that the property is not sold within those additional weeks, the contract will be terminated and you won’t be involved in any kind of arrangement.

How Is It That SDL Markets The Property?

SDL has an auction catalogue that is used for this purpose, but there are also other major property portals that they use for this purpose. Social media and local press are also used to ensure more exposure. In addition, there is a large selection of national and international buyers that will obtain your property details.

How Are The Property Photos Obtained?

You have the option of providing your own or if you prefer, you can ask SDL to send someone to take the pictures.

Is there a video walkthrough included in this and also a floor plan?

A virtual viewing of the property is included in this service.

How Are The Viewings Conducted And Arranged?

There will be a member of the viewing team that will handle this and all potential buyers will have the opportunity to check the property online with the virtual tours.

How To Buy During An SDL Auction?

You can always request that SDL posts a property catalogue that will allow you to have a good idea of what is available. Once you find a property that interests you, arranging a viewing is essential in order to decide if you want to purchase.

The Legal Lot Documentation

There are special conditions that will usually apply to lots that are offered at the auctions. These should be kept available within the legal pack. The auction website should also post this content.

It is always a good idea to seek any kind of legal advice that you consider of relevance. If you are in any kind of doubt, it is always a good idea to contact the customer service department at SDL for details.

SDL Guide Prices For Auctions

The price is quoted and made available on the catalogue on the website. This guide price is subject to change suddenly. The lots could end up being sold for much more or much less than the guide price.

The Property Reserve Prices

All lots will be subject to reserve prices and these prices are confidential. The decision of these prices is agreed on before the auction . It could be changed right before the action begins.

Offers For Pre-auctions

All offers have to be made in writing and it is important to consider them online once the correct legal documentation is provided. Any bids before the auction require an immediate exchange of contracts once the seller accepts. Finance, surveys, inspections, and valuations should take place before the bidding begins.

Those Unable To Attend

If anyone is unable to attend the events. They will need to appoint someone who can be a representative at the auction. The auctioneer should be aware of this representative and that they will bid on their behalf.

There are also proxy bids on the day of the auction and this can be done by the auctioneer. It is important that you always take the time to contact the auctioneer prior to this in order to ensure that this can be done.

The Registration Process

The registration needs to happen within a certain period of time before the action and certain forms of identification will be required. Your name and residential address will be required in order for the registration to take place.

Keep in mind that remote bidding is essential in times of COVID-19 . It is good to become familiar with this method of auction.

If you are not interested in going through the hassle and stress of waiting on the open market, Sell House Fast Group can help. To get started, fill in the form on our website here Sell House Fast Group or call us today on 0208 050 5156 for a Free Online Valuation.

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SDL Property Auction

Auctions For SDL Property

SDL Auction is a national action house that is based in Nottingham. They have been around since 2011 and started to operate on July 27th.

They hold 40+ auctions in different locations:

Leicester’s King Power Stadium

Birmingham’s Villa Park

Nottingham’s Racecourse

Derby’s Pride Park Stadium

Stoke’s Bet365 Stadium

Chester Racecourse

Manchester’s AJ Bell Stadium

SDL seeks to target the mainstream with their sales auction events and BBC1’s Under the Hammer constantly features them. Both national and regional publications are made in order to ensure the best prices per client.

The Types Of Properties That SDL Auctions Will Usually Auction

The main focus for them is to sell residential properties and this usually accounts for at least 80% of all the listings they have. There is also commercial property selling and this is a total of 14% of all of their listings.

This means that there is plenty of opportunity for investors to purchase property during auctions.

SDL Handles The Following Types Of Auctions:

Investment properties

Residential properties

Vacant or tenanted properties

Freehold ground rents

Agricultural property

Retail and industrial properties

Land and development opportunities

Buildings Licensed premises

SDL is always happy to help people during the auctions with expert advice to help them make a decision.

What Are The Prices Ranges That SDL Specializes On?

The selling price for residential sales is of £151,307 on average.

This is significantly lower than the £176,960 national average and this means they are looking to cater to lower end markets with a focus on property prices that are much more accessible.

£1 – £100k 37%

£100k – £250k 49%

£250k – £500k 12%

£500k – £1m 2%

The SDL Auction Performance

There are 3 key elements for the SDL auction performance and these are Market Share, Customer Satisfaction and Success Rate.

SDL is now seen as the largest auction house in England and in Wales.

With over 1,310 properties sold in the past year alone, they have a market share of 22.5%. The total of properties sold by auction in the last year at a national level was of 5,834 properties.

Note: Any time you are looking to find a perfect auction house. The larger their market share, the better they are as a choice.

With that said, there are smaller auction houses that have proven to be very reliable and it all depends on those who run it.

Success Rate Of 62%

Out of all the auction houses in England and Wales. SDL has a success rate that stands at 26th in the ranks of the highest success rates.

Their ability to sell properties in their list is 62% and this is lower than the average of 67% at a national level.

Note: it is common for a higher success rate t mean that the auction house works on more realistic valuations. This means that expectations with unrealistic numbers are not so likely.

The Auction Fees With SDL Are At 4%

The charges of these fees will depend on selling prices in most cases. You can expect them to charge 4% + VAT for any property at £250,000 or less. They will charge 3% for any properties that go beyond £250,000.

Their commission fee is something that is paid by the buyer and the minimum fee is of £5,000 + VAT.

Premium For Buyers Are There Other Charges For The Buyers Aside From The Commissions?

The buyer will pay a premium of 0% + VAT, and is subject to no less than £0 + VAT.

Note: if you are buying at an auction, you should consider that at least 25% of buyers are usually going to be paying unexpected fees. You can avoid becoming one of those people by downloading our checklist and figuring out where there may be any hidden auction fees.

Additional fees for sellers of auctioned properties.

Are There Entry Fees For The Auctions?

There is a £300 + VAT entry fee that has to be paid upfront. Here is no refund for this even if the property is not sold at the auction.

Are There Any Legal Costs To Consider In Those Cases?

Yes, but these are separate from the actions . This means that SDL has no way to let you know how much these costs will be.

These legal costs are usually the upfront costs and then the charges upon completion.

Note: The auction houses we recommend have no auction entry fees and this is negotiable in many cases.

How Is It The SDL Auction Works?

Auction Process Considerations

What Types Of Auction Processes Can We Expect Them To Be Running?

SDL runs two specific types of auctions

There are two types of auctions that people can expect to be running. You have the live streamed auctions and you have the timed auctions on their website. They both offer conditional and unconditional sales.

When they are unconditional, there is a non-refundable deposit that you pay. When this is done. The contracts are immediately exchanged and the buyer has to complete within a specific period of time of around 15 working days.

For auctions that are conditional. There is going to be a reservation fee that grants very specific and exclusive rights to purchase the property within 40 days. The difference is that the purchase is not an obligation from a legal standpoint unlike the situation with an unconditional auction.

How Are Properties Valued By SDL?

What Is The Length Of The Contract With SDL?

This is going to be running until the date of the auction but it can be extended for another 4 weeks in case the property does not sell.

Selling The Property During The Auction

If you are looking to sell your property fast, using the SDKL service could turn out to be ideal for your needs. The buyer is required to pay a fee that is going to ensure that the property is secured. Thanks to this, there is the option of 0% commission to be paid by the seller.

What Kind Of Prices Could You Expect At Any Type Of Auction?

Just as it happens with most properties on sale. The price that is offered by a buyer is not going to be something that depends on the property. It is important to keep in mind that the price of the property is going to be higher if there are more people showing interest in it during the auction.

Given that COVID-19 has brought a number of restrictions with it. But they have been eased by governments and this means that viewing appointments on-site are now possible again. They are listed on the SDL website.

A queuing system outside the property is going to be required to ensure that only two people can view it at the same time. No children are permitted at the showings and it is essential to ensure that proper distance is kept between people.

With that said, a proper PPE should always be worn by people viewing the property. Anyone that feels any symptoms that could relate to COVID -19 should avoid attending the events. It is important to confirm any specific dates for appointments outside the scheduled meetings.

It is important to note that not all properties can be viewed due to their current state not being safe for people to visit. There are no video tours for this type of property either so the purchase is always at the risk of the buyer.

What Takes Place During The Day Of The Auction?

The events are usually live-streamed on the web and this means that you can see the auction take place live. You can safely place bids from the comfort of your home . This makes it an extremely powerful way to attend auctions without any hassles.

There are timed auctions that are only going to be available for a specific amount of time. When this happens, you will be able to watch the bidding and a specific number of people will be allowed to watch it simultaneously.

If the agreed reserve price is reached on conditional terms, the non-refundable reservation will grant the buyer the rights to purchase the property within 40 days.

Is It Possible For The Property To Be Sold Before The Auction Takes Place?

There are some cases when a property will be withdrawn from the auction due to it being sold earlier. It is important to check back and find out if this is the case.

What If The Property Is Not Sold During The Auction?

SDL Auction is a national action house that is based in Nottingham. They have been around since 2011 and started to operate on July 27^th.

Out of all the auction houses in England and Wales. SDL has a success rate that stands at 26^th in the ranks of the highest success rates.