Selling Property at Auction

August 14, 2014

Tenanted properties, properties in need of improvement, development propositions, investment properties and building land, are some categories on an exhaustive list of lots viable for auction.

In today’s, sometimes slow, market, selling a house at auction is becoming a popular alternative method of sale and confidence in the property Auction is growing as a result.

There remains today however, a large portion of the market, who do not appreciate the merits, have outdated ideas of the Auction concept and do not realize that their agent is duty bound to consider Auction as a viable method for selling their property.

Archaic conceptions of Auction, conjure up stories of repossessions and last chance saloon scenarios, however, the opposite is indeed now true with many home owners considering Auction for a quick sale and to avoid spiraling costs often associated with property remaining on the open market for extended periods.

This new approach to selling suitably identified properties is growing throughout the UK and has to be a serious contender for Agents offering Fixed Rate solutions as we do at iMove North East.

Locally based auctions attract genuine buyers via high profile marketing materials, with an Open House opportunity in advance of Auction Day. The entire house sale process speeds up with Auction and chances of success are high, based on previously met criteria.

The nature of competitive bidding and legal and binding contracts, exchanged at Auction, offers an efficient and satisfactory result for both Agent and seller, having agreed a Reserve in advance of the big day; allowing both to move on, with a successful sale behind them.

Naturally, Sale by Auction shall not suit every property coming to the market and shall be influenced by the ever-changing economic climate, however, it should present an optional alternative for home-owners and Estate Agents, presenting selected properties to a wider audience.

Adam Jackson, iMove North East

Alex Evans

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