Next Auction

11th July 2013

Starts 6:30pm

De Vere Village Hotel, Coventry

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 Previous Auction

De Vere Village Hotel, Coventry

23rd May 2013

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 Loveitts Auctions

Loveitts is a modern and progressive auction house and the leading auctioneers in the Coventry and Warwickshire area but maintaining traditional values and with a pedigree which stretches back to 1843.

  • The firm holds regular property auctions in Coventry & Warwickshire usually every two months offering a range of lots to include, residential, commercial, land and investment properties.
  • Our expert auction team inspects every auction property to ensure that the most comprehensive advice is given.
  • Best possible price achieved and binding contract on the fall of the hammer.
  • Chain free sale with no adverse down valuations or surveys.
  • 10% deposit paid at the auction and completion usually within twenty eight days provides for a quick hassle free sale.
  • Clients include prominent local charities, local authorities, receivers and liquidators and statutory undertakers as well as private clients.
  • All auction lots marketed on leading auction and property websites including Rightmove, Find a Property, Prime Location, Globrix, Propertylive and EIG as well as on www.loveitts.co.uk

 Auction Diary

Date & Time: 6:30pm, 11th July 2013
Venue: De Vere Village Hotel
Address: Dolomite Avenue , Allesley , Coventry CV4 9GZ
Auction Details: Lots now being taken!
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 Last Auction

Date & Time: 6:30pm, 23rd May 2013
Venue: De Vere Village Hotel
Address: Dolomite Avenue , Coventry Business Park , Coventry CV4 9GZ
Auction Details: Viewings and contract packs available!

 Guide to Buying

Prior to Auction

The attention of prospective purchasers is drawn to the general and special conditions of sale which are available for inspection at the office of the Vendors Solicitors and at the office of the Auctioneers.

Prospective purchasers shall be deemed to have inspected the relevant property. The vendor’s solicitors will provide a contract pack including the usual necessary searches and enquiries with all relevant authorities and other bodies. This is available for inspection at the Estate Agents offices, during normal business hours. It is advisable to arrange for a survey of the property prior to the Auction.

Prospective purchasers are strongly advised to check any sales particulars as to measurements, areas and all other matters to which the properties are expressed to be subject or have the benefit of and in respect of any contents, fixtures and fittings, expressed to be included in the sale by making an inspection of the property and all the necessary enquiries with Loveitts, the Vendor, the Vendor’s professional advisors and all other appropriate authorities. All measurements and areas referred to in these Particulars are approximate only.

Inspection of investment properties is by courtesy of the tenant. Inspection of properties with vacant possession only by arrangement with the Auctioneers. Interested parties should ring the office book a viewing.

The Vendor has a right to sell before Auction or withdraw the Lot and neither the Auctioneer nor the Vendor is responsible for any abortive costs, loss or damages of a prospective purchaser. Information as to pre-sale or withdrawal of a Lot can be obtained from enquiry of the Auctioneers at any time prior to the Auction but valid only up to the time of enquiry.

On the Day of the Auction

As soon as the Auctioneers gavel falls on a bid, the successful bidder is under a binding contract to purchase the relevant property. The purchaser is immediately at risk in relation to the property and should therefore have confirmed bank or building society finance arranged (if required) and will also be deemed to have made prior arrangements for any insurance cover that is required (See footnote). Completion will occur 28 days after exchange, unless otherwise specified.

Bids may be refused at the Auctioneers' discretion. The Auctioneers reserve the right to bid on behalf of the vendor up to the reserve.

The successful bidder must immediately present to the Legal Representative, identification including passport or driving licence, plus a utility bill (not mobile phone bill).

The successful bidder must sign and exchange contracts with the Vendors Solicitors prior to leaving the room and at the same time pay to the Solicitor a deposit of 10% of the purchase price plus the Buyers Premium (see below for amount). In default of any of the above, the Auctioneer shall be entitled as Agent for the Vendors, to treat the failure or default as repudiation and rescind the contract.

Thereafter the Auctioneer shall be entitled to re-submit the property for sale and if a successful bidder does not pay a deposit and/or complete the memorandum the Vendor reserves the right to claim any loss he suffers as a result.

Important Notes

All location plans published in the particulars of sale are to enable prospective purchasers to locate the property only. The plans are photographically reproduced and therefore not to scale and are not intended to depict the interest to be sold but are for identification purposes only. The boundary lines and numbers on the photographs are again only to enable prospective purchasers to locate the property and are not intended to depict the interest to be sold. Purchasers are advised to view the special conditions in respect of the precise interest to be conveyed.

Any guide prices or any estimates or values mentioned in negotiations or discussions with the Auctioneers or any of their representatives cannot be relied upon by a prospective purchaser as representing professional valuations for any purpose in accordance with the requirements on guidance notes of relevant professional bodies or other authorities. In all respects prospective purchasers are deemed to have relied upon their own knowledge or the advice of their own professional or other advisors. Also the reserve price may in some instances exceed the quoted Guide Price.

The dimensions and/or areas shown in this catalogue are intended to be accurate to within ±5% of the figure shown. If greater accuracy is required we advise intending purchasers to carry out check measuring.

Properties sold at auction are not normally cleared of furniture and effects on completion.

Buyers Premium (To be paid along with the 10% deposit):

  • Guide Price up to £40,000: Buyers Premium £300 + VAT
  • Guide Price £40,001 - £250,000 Buyers Premium £395 + VAT
  • Guide Price £250,001+: Buyers Premium £500 + VAT

Any Queries For any queries please do not hesitate to contact us on 024 7652 7789.

 Guide to Selling

Benefits

Selling at Auction can give a transparent sale, within a short period of time, achieving the best possible price.

Once the hammer comes down, the purchaser enters into a binding contract, and pays a 10% deposit on the night of the auction and will sign a contract.

Completion usually will occur within 28 days.

Once the contract is signed there is no risk to the vendor of adverse surveys or down valuations. The successful bidder is legally obliged to complete the sale.

Process

Kendall Head (Auctioneer and Loveitts Director) along with Sally Smith (Loveitts Auction Manager and Associate) will arrange at a mutually convenient time to visit the property to appraise not only its suitability but its potential sale price, Guide price, and to run through the Auction process.

Once instructions to proceed have been received, sale particulars are prepared, and forwarded to the Vendor for approval.

An Energy Performance Certificate (EPC) is required by Law for properties that are put on the market. The EPC must be ordered before marketing can commence, and must be in place 7 days after the first day of marketing. Due to a condensed marketing period it is imperative that the EPC is ordered immediately. Loveitts are able to advise you on the cost of applying for a EPC.

Loveitts will advertise the property every week from when the EPC is ordered.

The seller will need to instruct a solicitor to prepare a Contract Pack. This is the legal documentation that will need to be in place for a potential purchaser to view before the Auction and the documents that will be signed by the purchaser on the night of the Auction.

It is essential when choosing a solicitor to act that consideration is given to using a Loveitts nominated Solicitor. The solicitor is an essential part of the process to ensure that any potential purchasers have all the information that they need to consider their purchase in plenty of time before the Auction. Loveitts can provide a list of local independent solicitors that sellers in the past have used and found to be both speedy and efficient.

Potential purchasers may want to view the property during the marketing period and have a survey carried out. They will also want to see any Special Conditions of Sale, title documents, lease details (where applicable), searches, planning documentation and office copy entries. This will all be contained within the legal pack.

A few days before the Auction the Reserve price will be agreed. This is the level below which the property cannot be sold. It is important that this be set at a realistic level.

On the Day Of the Auction

Our Auctions are held at The Allesley Hotel, in Coventry, during the evening.

It is all quite simple. The Auctioneer offers the Lot and takes the bidding up to the highest level. The fall of the hammer represents an exchange of contracts and the successful bidder is legally obliged to pay a 10% deposit and sign the contract before leaving the room. The property is purchased ‘as seen’, and cannot be renegotiated after the Auction.

After the Auction

It is advisable for the seller to read the meters within the property and forward all keys to the property to Loveitts.

Completion will then occur 28 days after the auction (unless otherwise specified), when the balance of the monies is paid. Loveitts will arrange with the purchaser on the day of the completion to collect keys from their office.

What happens if the Property does not sell on the day?

If the property fails to meets its reserve on the night of the Auction, there may be someone who still wishes to buy. It is then up to the Vendor whether an offer is accepted. There is still the opportunity in the days immediately after the Auction to agree a sale and exchange contracts under Auction conditions. This can occur only with the co-operation of the vendors solicitor.

The property may also be sold in the days or weeks after the Auction.

What next

For an informal, no obligation chat about the process of selling at Auction please call Loveitts Auctions 02476 527789. Or email auctions@loveitts.co.uk.

 Auction Finance

Loveitts has teamed up with Auction Finance Ltd to make competitive and efficient bridging finance available to buyers at auction. Auction Finance’s streamlined services enable funds to be transferred within 24 hours following completion, putting property professionals in a position to buy – quickly.

Facilities include: bridging finance, development finance, property portfolio funding, land finance and buy to let.

As a principal lender, Auction Finance pride themselves on their service speed. Loans can be agreed before, during or after an auction, with funds always being available in time for completion.

To find out how Auction Finance can help you call 0844 375 7982 now to discuss your requirements or email loveitts@auctionfinance.co.uk.

 Meet The Auctions Team

Coventry Branch

Kendall Head

Kendall Head, BSc (Hons) FNAEA FNAVA

Director / Auctioneer

Telephone: 024 7625 8421

Fax: 024 7663 2212

e-mail:

Sally Smith

Sally Smith

Manager and Associate

Telephone: 024 7652 7789

Fax: 024 7663 2212

e-mail:

Mandy Boon

Mandy Boon

Auction Co-ordinator

Telephone: 024 7652 7789

e-mail:

Amy Newell

Amy Newell

Administrator

Telephone: 024 7652 7789

e-mail:

 Testimonials

Mr Ian Grindal - Newsome Vaughan LLP, 31st May 2013

I was delighted to hear the Auction result regarding 100 Hinckley Road and wanted to thank you for all of your hard work on this matter.

Mr & Mrs R, 24th April 2013

My wife and I would like to express our thanks for the efficient and proffesional service that we recieved from your auction team.

In particular we would mention Sally and Mandy for their friendly and helpful attention throughout the whole process. Sally and Mandy maintained regular contact and gave invaluable advice. The auctioneer, Kendall Head, cannot be commended too highly for the manner in which he conducted the bidding and maximised the outcome with his good humour and patience.

The efforts of the three members of this team enabled us to achieve a price that was beyond our expections. We are indebted to all of them and consider ourselves fortunate to find such an outstanding team.  

We highly recommend Loveitts auction services and will definitely use them in the future, if the occasion arises to buy or sell.

Thank you to everyone.  

Mrs K, 24th September 2012

Just wanted to say thank you for your professional, efficient and pleasant service.  This was the third referal that I have given to you and I am delighted with how things have been dealt with and also the final price achieved for the properties.  I will continue to use Loveitts in the future.

Mrs England, 14th May 2012

Dear Sally

I should like to take this opportunity to say a big thank you for the trouble free - on my side - swift, efficient and courteous way in which the house was sold at auction with Loveitts.  It took so much stress off the situation and made the whole process so much easier.  I can certainly recommend anyone to use your firm.

With many thanks.

Mr Kelland, 15th February 2012

I would like to thank Loveitts for arranging the auction so speedily and obtaining an excellent result.  I was really impressed by Loveitts marketing and I know my sister was too.  Your efficiency made a sad time easier.

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Loveitts offer a free no obligation valuation service.


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Alternatively, get in touch with us by telephone - our Coventry branch can be contacted via 024 7652 7789.

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Branches in Coventry, Nuneaton, Leamington Spa and Southam