Once you have put your property on with a Lot37 agent they will:

1. Prepare your property particulars.
2. Discuss the auction ‘Guide Price', ‘Reserve Price' and ‘Buy Now Price' with you. These are:
• Guide Price – the price that you and your Lot37 agent think that the property is worth on the open market
• Reserve Price – the minimum price that you are willing to accept for the property (this may be the same as the Guide Price
• Buy Now Price – the price that you are willing to accept immediately and therefore withdraw the property from the auction process. Your property may therefore attract a bidder who does not want to get in to a bidding war.
3. Arrange for you to sign a copy of our standard Auction Agreement. This effectively authorises your Lot37 agent to sell your property via Lot37.co.uk and records the figures that you have agreed for the items in 2 above.
4. Instruct a solicitor on the Lot37 panel to act for you. The solicitor will prepare an auction sale pack for your property in readiness for the end of the auction process. This will ensure a speedy completion of your sale. If you prefer you can instruct a solicitor of your choice, although they will need to have a good understanding of selling a property via auction.
5. Gauge the level of interest during the auction process and keep you informed of the same.
6. All Bidders must pre-register. This therefore filters those bidders who do not have a serious intent to purchase.
7. Under the Lot37 terms contracts must be exchanged within 30 days of the end of the auction. However, you and your Estate Agent may obviously agree an alternative timetable with your buyer.

Your Lot37 Agent has been specifically trained by Lot37 in the auction process and how to effectively sell via Lot37. They should therefore be able to answer any queries that you have during the auction process. However, you may also call the Lot37 Customer Services line at anytime who will also help you with any queries that you have – 0845 0177 737.