Contact BidX1 (formerly Andrews & Robertson) for property auctions
BidX1 is a relatively new property auction company, launching in London in 2011 but then significantly expanded in 2018 when it acquired the long-running city auction company Andrews & Robertson. BidX1 says that this acquisition means it is now the second-largest auction house in the UK and Ireland, and it can handle both commercial and residential property sales. The growing company also routinely auctions properties in Cyprus, South Africa and Spain.
The team at BidX1 is constantly looking for ways to use technological developments to improve property auctions, and its sales are all held online through real-time livestreams. During these auctions people can register to place bids, and all bids received are displayed for everyone involved in the auction to see. And the company also promises that for any properties that sell, it immediately signs the sales contract on behalf of the seller and the winning top bidder.
BidX1 is also very environmentally conscious, and it has a section of its website devoted to its efforts for achieving carbon neutrality, which means the company produces net-zero carbon emissions – for example offsetting carbon emissions it produces by taking other steps to reduce the same amount of carbon emissions from another source. And the auction house says that it plans to take even greater steps to protect the environment in the coming years.
Telephone number: 020 7703 4401
Email: info@uk.bidx1.com
Website: https://bidx1.com/en
Address: Heathcoat House, 20 Savile Row, London, W1S 3PR
What you should know about auctioning your residential or commercial property
Whether you’re trying to sell a commercial or residential property, auctioning can be somewhat of an unknown because you never truly know the final price at which the property will sell. That’s because all auctions start by choosing a reserve price, which is the absolute lowest value at which you will accept the property selling. Your goal is to have several people wanting to buy your home, so that once the auction starts, they will keep trying to outbid each other with ever-increasing prices that might drive the final sale value for the property significantly higher. But you should also know that in some cases you might only receive one bid, in which case you will have to be comfortable knowing that your property will sell at the reserve price you chose.
And in worst case scenarios you might not receive any bids, which means your property doesn’t sell. However, if you receive even one bid on your home then it will sell, because this is a binding legal agreement to buy your home and it’s one you can enforce if it becomes necessary.
A key advantage of using a property auction is that qualified companies have the knowledge of how to sell a huge variety of commercial and residential properties. For example, some of the many different types of homes that auctioneers have successfully sold include properties near airports or under noisy flight paths, dilapidated homes, houses where the owner cannot find the title deeds or other crucial documents, probate properties, flats that currently have tenants with lengthy leases remaining, plots of land, and many other different types of properties.
Questions and answers about selling your property at a BidX1 auction
Yes, like most auction houses you will have to pay commission to BidX1 for their effort in hosting the auction and selling your property. However, by the usual of special conditions it might be possible for the winning high bidder on your property to pay these costs instead.
BidX1 currently has offices and hosts auctions of residential and commercial properties in six countries: Cyprus, Greece, Ireland, South Africa, Spain and the UK.
No. Auctioning your property is not a guarantee that it will sell, because there’s always the possibility that there are no buyers interested in the property. If nobody bids on your property then it will not sell, but a valid bid is deemed a binding agreement to buy the property.
