Homeowners are keeping their options open when it comes to selling their property by taking advantage of a new initiative being offered by Chancellors.

Under the company’s Platinum service, a property goes to auction if it is not sold after 12 weeks of being on the market.

James Cridland, senior Manager at the Woodstock branch of Chancellors, said: “This initiative, which is one of the first of its kind, brings a swift conclusion to buying and selling, for both parties “Auction houses and estate agents have access to different groups of buyers and this means the two services complement each other.”

Chancellors has joined forces with London-based auctioneers Brendons to launch the initiative.

Mr Cridland said: “When we start marketing a property we agree a date with the client, usually six to eight weeks into the campaign, at which the auctioneer will discuss fixing a reserve and guide price for the property.”

The first homeowner to take advantage of this service is former policeman Dermott Norridge. pictured above, who is selling a four-bedroomed detached home in Holliers Crescent, Middle Barton in West Oxfordshire..

Mr Norridge said: ”I read about home auctions in Property Times and approached Chancellors which was launching its new service.” . “The house has been on the market for three years, although Chancellors only took on the property last November. It was originally priced at £275,000 but is now on the market at £200,000.”

The house will be going under the hammer in London next Wednesday.

Chancellors Platinum service costs £230 for new clients, and £460 for existing clients This cost is in addition to the usual sales fees. For more details, call Chancellors on 01993 811990.