Auction Business Launches New Property Firm
YourBid lists the properties it has on its books on its website and the dates on which bidding takes place. At the end of the auction, the highest bidder has the exclusivity of 56 days in which to make all the necessary arrangements to complete the purchase of the property.
The types of property offered in this way are those which are generally mortgageable as opposed to many in a traditional Paul Fosh Auctions sale which either require major renovation or could be unmortgageable.
Auctions valuer Olivia Williams has been appointed to head up YourBid for Paul Fosh Auctions.
Owner and managing director Paul Fosh of the Newport-based business, said:
'We believe that this is a real game changer not just for us as a business but the industry as a whole.
'YourBid opens up property auctions to a whole new swathe of buyers who, up until now, have been unable to take advantage of the very many benefits of buying a house at auction.
'I don't like the term but so-called Modern Auctions allow many more people, who until now have had to watch enviously and frustratedly from the sidelines as properties that they would otherwise have loved to have bought sold during traditional property auctions, to cash buyers, speculators and investors.
'It is aimed fairly and squarely at owner occupiers who have targeted a particular property which they want to make their home as against developers who may want to do up and flip the lot.
'In a nutshell, YourBid enables these buyers to enter the market. Unlike traditional auctions where when the gavel falls a contract to buy is exchanged, in our new, modern, system successful bidders have time to make all the necessary arrangements, including arranging their mortgage or means to buy the property, before the sale completes.
'It's a win/win which we believe will add a further string to our bow of what is a constantly expanding offering from Paul Fosh Group which now not only covers traditional property auctions but estate agency and lettings.
'After a soft launch we're now confident that, after ramping up our offering, we can soon be achieving a high number of sales each month just through YourBid.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economist
2 hours ago
- Economist
Britain has a rare opportunity to lure American talent
AMERICANS LIKE Britain. Ask restless American graduates where they would most like to move, and it often tops the list. So it is no surprise that, as the Trump administration has attacked America's top universities and slashed funding for research, American interest in British-based science and tech jobs spiked. Britain has a rare opportunity to snap up disillusioned American boffins, as well as global talent that might once have chosen America. Will it seize it?
Scotsman
2 hours ago
- Scotsman
New Tesco Express store opens in Edinburgh district.
A brand-new, highly anticipated Tesco Express store has opened its doors in last week. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Located in the Ocean Terminal shopping centre, Tesco Express opened its doors for the first time, with eager shoppers keen to take a look at the new store. The new store is open 7 days a week from 7am-10pm and has employed 20 staff to help serve shoppers, whether they are doing their weekly shop, buying lunch or picking up a snack. Advertisement Hide Ad Advertisement Hide Ad Tesco Ocean Terminal Express features an InPost parcel service and national lottery machine, with a Costa Coffee machine being available from next week. The new store is located in the Ocean Terminal shopping centre in Leith. Dean Conway, store manager at Tesco Ocean Terminal Express, said: "We're thrilled to finally open our doors and serve the people of Edinburgh. Ocean Terminal shopping centre has been missing a main food retailer for years, despite facing onto the Royal Yacht Brittania which alone attracts 400,000 visitors each year, so it was a no brainer to open our new location here! Dean continued: "Our shelves feature a wide range of everyday essentials such as fresh produce, bakery treats, healthcare items, and of course, everyone's favourite meal deal. 'I'm proud to be leading a fantastic team in store and we are all looking forward to meeting our new customers over the coming weeks.' Advertisement Hide Ad Advertisement Hide Ad The store will also be part of the Tesco Stronger Starts grant scheme, which invites local schools and community groups to apply for funding that supports the health and wellbeing of children. The new store has employed 20 staff members so far. The scheme sees three local projects voted on by customers in-store every three months, with first place awarded up to £1,500, second place up to £1,000, and third place up to £500. The new Express store will also be working alongside Cyrenians, an Edinburgh-based charity helping people find food, work, and shelter.
Scottish Sun
2 hours ago
- Scottish Sun
Michelin-starred chef to close popular restaurant for months ahead of huge revamp with new ‘flexible menu' in shake-up
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MICHELIN-starred chef has confirmed plans to temporarily close a popular restaurant for months. The restaurant is closing while its award-winning chef plans a huge revamp of the eatery with a new 'flexible menu'. Sign up for Scottish Sun newsletter Sign up 4 Tim Allen and his wife Mag run the Michelin-starred restaurant Sō–lō Credit: Instagram 4 The Lancashire-based eatery made headlines when it announced it would shut for several months Credit: Instagram 4 Its owners have confirmed that they will be planning a new menu Credit: Instagram Sō–lō was awarded its first Michelin star in 2023, in recognition of its incredible cooking. Its owners, Tim Allen and his wife Mag, first took over the eatery in 2021 and the restaurant soon landed on the UK's Top 100 list. Based in Ormskirk, Lancashire, it became famous for its delicious Sunday lunch service. However, the restaurant will be closing its doors on July 27 as it undergoes a major revamp. It will remain closed until early November when it will reopen with a very different menu. Ahead of the closure, Tim has said: "This marks a really exciting stage in sō–lō's - and our own - journey. "The time is right to invest further in the business, enhance the offering here at sō–lō and build upon the reputation we have. "We want to be able to offer a stronger dining experience. "The sō–lō people know and love will still be here - relaxed, welcoming and ingredient-led - but with a more modern, crisp, fresh new look." He is remaining tight-lipped about the refurbishment, though he has said that there will be a new chef's table. Restaurant chain owned by Michelin-starred chef is on brink of collapse 16 years after it first opened Tim has also confirmed that the restaurant will continue to serve its à la carte lunch menu and award-winning Sunday lunch when it reopens. The Michelin-starred chef did drop some hints about the new menu though. He said: "Flavour will always be at the forefront of what we do, but we are mixing things up a little. "We'll also be offering a more casual, and shorter, tasting menu style experience which showcases outstanding ingredients, our passion for produce and imaginative dishes." The news comes after several major Michelin-starred restaurants have been forced to close. La Dame de Pic closed suddenly in February, alongside fellow French restaurant Café Lapérouse. Both restaurants were located in Central London, with La Goccia - another luxury restaurant in the capital - also closing. La Goccia's owners blamed Covid and Brexit for the closure, saying that both factors left them unable to hire trained staff.
