Allsop launches New Homes Online Auctions, a new method for purchasing off-plan property

Tuesday 18 October 2016

Abu Dhabi - MENA Herald: Allsop, the UK’s market leader in residential and commercial property auctions, has developed an innovative method for the sale of off-plan residential property.
Their ‘New Homes Online Auction’ service empowers buyers to directly bid on and purchase property online, without the need for a sales broker or agent. Streamlining and simplifying the conventional sales process, Allsop will market one carefully selected development at a time.
Clear and concise project information will be available online in advance, enabling buyers to educate themselves and ask any questions before the online auction date.
Interested buyers will then complete a simple qualification process, allowing them to bid on the set auction date. This revolutionary new method ensures that all buyers have simultaneous access to the new-build developments launched through this service, irrespective of their location. The transparency of the process provides a fair and equal chance for everybody.
On the auction date, the live market will set the final price based on the level of interest and bids made on any one property. Upon the fall of the virtual hammer the sale is legally secured with exchange of contracts. The certainty of sale means there is no risk of gazumping or confusion, which often occur in conventional property sales and can cause buyers distress. The model also ensures there are no hidden discount margins.
Pioneered by Allsop, which has over 100 years of industry experience, this unique method of sale has been carefully engineered to provide a simple and stress free buyer experience. Last year, the firm trialled the new concept and have since refined the process to ensure ultimate user-friendliness.
Simon Capp, Partner at Allsop, said: “We believe that online auctions are a natural evolution for the new homes market. This innovative new online service offers everyone a fair, convenient and effective way to buy new-build property in the UK. We anticipate the first auction will take place early next year and we are confident that buyers will welcome this revolutionary method for buying off-plan online.”

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