My Top 10 reasons to sell your property at auction

Selling your property by auction can be quick, simple and chain free. Once the hammer falls, your property is sold. With the whole process taking around 6 weeks, take a look at my top 10 motivations to sell at auction:

Speed:

Selling at auction is generally a much quicker option than selling your property on the open market with an estate agent. The standard completion date usually takes around 28 days but can be modified by the vendor, and in some cases can be as little as 14 days. Pre-auction offers are also very common these days and this can speed up the whole process entirely, should this be something that you require.

Certainty:

Selling your property at auction, completely cuts out the worry of broken chains and fall throughs. There is no backing out and no re-negotiating the price. When the hammer falls, your property is sold, without any worry of you losing your buyer.

Set Dates:

If you need to sell your property quickly, with no complications, the auction room is the place for you. With very accurate deadlines and completion dates, there is no waiting around. You know the auction date that your property should sell and from this you can set a definite completion date, usually within 28 days. This is particularly helpful if you are working to a specific timescale.

Flexibility:

From tenanted properties to development opportunities, the auction room offers a wide variety of different property types, to suit many different buyers. You can sell your property exactly how it is, and this provides a much more flexible and simple method to sell your property.

Development Opportunities:

An auction room is usually filled with builders and developers who relish renovation work and there is a huge demand for these types of properties in the auction market. If you have a property due a major re-vamp, or simply just a small refurb, selling by auction could be perfect for you.

Failed a Survey:

Have you had a buyer back out due to a failed property survey? Try selling your property in an auction, where there will be no fall throughs and no back outs. Once the hammer falls, the property is sold. If in the very unlikely event a buyer does back out, they will lose their deposit – making this an extremely rare occurrence in our auction market.

Don’t Miss Out:

Your dream home has just come on the market and you need to sell your property quickly, so that you don’t miss out. The auction room is great place to sell, as you can complete the sale within 28 days of the hammer falling.

Public Sale:

If a property has been repossessed, entering it to auction allows a fair price for the property, with no disputes. With it being an open and public sale, it allows anyone the right to attend and bid, in a fair and non-dispute way.

Inherited:

If a property is surplus or the beneficiary might not live locally, an auction is the best place to sell. It offers a fair chance of what price the property will sell for and with the reserve price set in place, you will know the minimum price you will get for the property. Probate-properties are also some of our most popular properties that go under the hammer!

Competitive Environment:

If a property is attractively priced, offering it in an auction room full of motivated buyers to compete can often drive up the price. If the property attributes are right, you are likely to achieve a great sale, with many motivated buyers wanting to win, and in fact many of the properties sold at auction exceed their reserve price!

Written by: Andy Thompson – @AndyT___

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Breaking News

WEEKLY NEWS ROUNDUP – 20/05/2022

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   Table of ContentsHide nurtur.group continues to strengthen its leadership team PRESS RELEASE: BriefYourMarket partnerships take lead generation to next level MyIdentity selects Armalytix to create a proof-of-wealth solution for the property market Is Rishi Sunak to blame for the overheated…
Read More
can you live in a haunted house
Home and Living

Could you live in a Haunted House?

I’m sure that most of us, at one time or another, have had the feeling that we are not alone at home!  Maybe you are someone, like myself, that those little noises at night causes you to pull the bed covers over your head. You’ve spent the evening watching that ghostly horror movie, your senses…
Read More
Love or Hate Rightmove
Breaking News

Property prices double around Elizabeth Line stations

Rightmove’s new Elizabeth Line study reveals asking prices have more than doubled over the past decade in the local areas around Maryland, Abbey Wood and Stratford stations Despite delays in the line opening, the number of buyers looking to move near the stations has steadily surged: Buyer competition is now more than nine times that…
Read More
What will property prices do in 2022
Estate Agent TalkIndustry Interviews

Interview: Mark Hayward and his market forecasts

Residential Expert with Mark Hayward – May 2022 With last week’s relatively uneventful Queen’s speech in the rear-view mirror, now’s the time to assess the current state of the property market and predict what might be round the corner. We spoke to former chief executive of Propertymark and Just Move In ambassador, Mark Hayward, who…
Read More
Breaking News

BREAKING PROPERTY NEWS – 19/05/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   Will the Renters’ Reform Bill level up the rental sector? It is still unclear whether or not Michael Gove, the incumbent Secretary of State for Levelling Up, Housing and Communities (DLUHC) will be able to level up the lettings industry and strike a fair…
Read More
Software & Tech

iMind – a step to successful business online

The iMind platform helps entrepreneurs, large or small businesses and companies implement new projects. Employees and partners can be in offices in different countries, can join video conferences from home or vacation at the sea. Thanks to the high quality of iMind technologies, the communication between partners is always at a high level. One of…
Read More