Myrings Estate Agents

Buyer Benefits

In Partnership With:

Secure Sale Buyer Benefits

Buyer Benefits
  • A quick & easy bidding process.
  • Easy, secure buying process.
  • All bids are registered online.
A wide range of properties to choose from
  • Secure Sale provides properties that are realistically priced and readily available.
  • All secure sale properties are available through our expansive, national network of partner agents.
  • Many of the properties are available with no onward chain, making secure sale a great way to purchase a property quickly and securely.
A quick and secure transaction
Buying through secure sale gives the buyer and seller transparency. A sale can be agreed on the fall of the hammer and all deposits and necessary documents can be exchanged on the same day.
Online Secure Sale
Once you’ve found a property you’re interested in, we advise you arrange an in-person viewing, where possible, to further inspect the property before deciding if you’d like to place a bid.

The Bidding Process

Once you’ve chosen the properties you want to bid on, you must register with the secure sale department. This can be done online. Once you’ve registered you’re ready to bid.

You need to register and be verified by us before you’re authorised to place a bid. Secure Sales must complete in fixed timescales of either 28 or 56 days, so make sure you read the terms of sale and download and read the legal pack before placing your bid.

All bids are visible via our Online Bidding Platform, and once verified you’re able to bid anywhere, anytime before the secure sale ends. The very nature of secure sale is a quick and secure sale, therefore there isn’t much time to second guess yourself once bidding commences.

Make sure you familiarise yourself with the properties and any legal documents that are available, so you have all of the information you need to make a clear and informed decision about your prospective purchases.

Starting BidsThis is the advertised price for the property and the opening figure for bids.

Reserve PriceThis is the minimum price that the vendor is willing to sell the lot for in the secure sale. The reserve price is never published or listed, this is a private figure between the vendor and the secure sale facilitator. Both the reserve price and starting bid can be subject to change.

Terms

Unconditional Secure Sale
  • Pay a 5% Non-refundable Deposit and a Reservation Fee of up to 5% plus VAT (to a minimum of £5,000 plus VAT).
  • Be legally bound to buy the property/lot and the vendor is legally bound to sell.
  • The sale must complete within 28 days.
Conditional Secure SaleUpon the fall of the hammer, the buyer must…
  • Pay a non-refundable Reservation Fee of up to 5% plus VAT (to a minimum of £5,000 plus VAT).
  • Exchange contracts within 28 days and pay a 5% Non refundable Deposit (unless the Legal Pack indicates differently).
  • Complete the purchase within an additional 28 days of the exchange.
PLEASE READ:Reservation fee denotes a different set of charges to the regular secure sale lots. Reservation fee lots will be either unconditional or conditional. The reservation fee does not contribute toward the purchase price. Please read the above differences between these secure sale formats carefully so you understand the associated costs of each one and the requirements of each secure sale. All ‘%’ quoted above are based on the sale price of the property which is assumed by the winning bid.