Online Property Auctions

Sell property fast with OPA365.com

At OPA365.com there's 1000's of property investors just waiting to bid on your property. What's more, there‘s no fees or commission to pay - we even provide a free independent valuation.

Online Property Auction Facts

• Motivated sellers only
  
• No membership fees
  
• No seller's fees
  
• Sell property quickly
  

Selling Property Online FAQs (Click to view answers)

• What is OPA365.com and what can it do for me?

OPA365.com is an online bidding platform that brings motivated sellers and buyers together to accelerate the sale of property. As a requirement all properties must have reserve prices set below the current market value in order to generate strong interest and offer an attractive proposition to our buyers.

The site therefore acts as an accelerated sales channel by focussing on 'motivated' stock that may have been on the market for a long time, has been reduced in price or is in need of refurbishment.

• What is the cost to me as a seller?

Absolutely nothing. There's no membership fees or listing fees and any commission that you may have earned as an agent is unaffected.

• How does OPA365.com earn money?

OPA365.com charges a fee to the Buyer of the property in the amount of 1.5% + VAT. This fee is based on the final purchase price of the property and requested on successful completion of a purchase.

• Why would someone pay a fee to purchase on an online auction site?

OPA365.com provides its buyers with discounts on all properties; therefore, buyers on the site are willing to pay a fee if they are getting a discounted value in their purchase.

• How do I submit a property to the site?

As a seller/agent, you begin the auction process by uploading property details including photos, floorplans and HIP packs using our easy step-by-step process. Submissions can be saved and completed at a later time if all the required information is not available first time round. The OPA365 team will then review the submission and contact you to agree the reserve price, guide price and auction date.

• How are sales progressed?

Once properties reach the auction stage, buyers can place viewing requests, survey requests and queries that come directly through to you. You can keep track of these in My OPA and view bidding activity on the property's auction page.

• What happens at the end of the auction?

Within 48 hours of the close of an auction, we require that the buyer transfers a 10% deposit to the seller's solicitor by bankers' draft or cheque (with card guarantee) and provide proof of ID to OPA365. Contracts must be exchanged within 5 business days and completion of the purchase within 28 days.

• What if the reserve price is not met during an auction?

If the reserve price is not met during an auction, OPA365 will liaise with the highest bidders and the seller in an attempt to negotiate a mutually agreed price. If this is successful, the process proceeds as it would following the close of an auction where the reserve price is met.

Further Information on Property Auctions

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Got a question or unsure about something? Click here to contact us.