There are many benefits to selling by auction. Here we set out to let you know just some of the ways you could benefit by selling at one of our regional Property Auctions:
There is no faster way of selling a property. If a bidder is successful exchange of contracts will happen on the drop of the hammer with completion 28 days from then. This means you could have money in the bank within a month of the auction. Also if you have deadlines to meet or
are in a hurry, with a correctly priced property, you will know when the property will be auctioned and when the completion date will be after that.
We will set a guide price for your property and a reserve so that you will know the minimum you will get if a successful sale is achieved. The actual value will be dictated by the people in the room and our aim is to generate interest from two or more buyers and to get them bidding against each other. This process of Competitive Bidding will help your property to achieve the best price possible on the day. This will force prices higher than would have been achieved by private treaty. This is especially useful for Probate properties as executors are required to achieve “Best Price”. This is done in an open and public environment.
Once the hammer has fallen your sale is certain and the contracts are exchanged and a 10% deposit is given. Your buyer becomes legally committed to buying your property and cannot change their mind. Unlike properties sold by private treaty where almost a third of all buyers pull out before exchange of contracts is met. This also means that your buyer will not be able to lower their offer just days before exchange is due. With auctions your buyer should have fully researched the property and will be buying it as seen.
Selling properties with tenants can be challenging, getting agreed viewing times and always guaranteeing access at important times can be problematic. Also waiting to get vacant possession can slow the process. Selling by auction can avoid all these things and will also secure you income until completion and guaranteed income to your purchaser from the date they take over ownership. These can include but aren’t limited to Regulated Tenancies, Assured Short Hold Tenancies and Commercial Lets.
Auction properties require special marketing at Auction House we understand this. We will take details of your property and write up the sales particulars and create window cards. These details will also be presented on www.auctionhouse.uk.net a national website dedicated to properties for sale by auction, we will also present it on www.rightmove.co.uk the UK’s no.1 property portal and also on www.newtonfallowell.co.uk.
We also produce an auction catalogue for every auction we have and these are sent out to a mailing list of potential purchasers including developers and exchange ready buyers. We will also send these to solicitors, dental practices and doctor’s surgeries across the region. We will also scan our mailing list for any potential purchasers for your property and email them details and try and secure that all important viewing.
Why not come along to our next auction and see just how exciting an Auction can be.