Here we list the main property types that are suitable for an auction, but this is by no means an exhaustive list so if you don’t see what you are looking for we still might be able to help so give us a call.
Any sort of renovation or fixer upper are perfect lots for an auction.
Property investors and private buyers alike will be keen to get their hands on a good project for resale or even to live in themselves. These will also be appealing to a buy-to-let investor who might like to buy it carry out the
renovation work and then let it out.
There is no better way to sell land, builders will have the chance to do all the research they need on the plot, including checking over planning permissions and consulting architects this enables them to formulate their best price and be prepared for auction day. Well placed and keenly priced land will have multiple builders bidding against each other and will see a very high price achieved in comparison to private treaty sales.
Unused Barns or farm buildings, empty commercial units or building with potential for conversion all sell well at auction. If a building has potential for a change of use from commercial to residential this can significantly increase its value and make it a perfect lot. Properties with large plots can sometimes be broken down and extra dwellings built on the grounds, these types of property are ideally placed in an auction as specific buyers will want something like that including developers and builders.
If you are looking to sell a property with a tenant in place then an auction is ideal. The best buyer would be another landlord wishing to add to their portfolio and buy a property with guaranteed income. This will also guarantee you income right up until completion and also means you will not have to serve notice on your tenants, saving you time and potentially money.
Properties with multiple uses are perfect lots for an auction. For example shops with flats above will generate a lot of interest. Properties that are very unique or rare are well suited to an auction. Properties that don’t come to the market very often, be it location or style, will generate a lot of interest and should see competitive bidding drive the price higher than if sold by private treaty. Also blocks of flats or houses in multiple occupation can be well placed in an auction.
All types of land are frequently sold by auction including paddocks, fields and meadows. There are purchasers for most types of land and an auction will draw any and all buyers that will be interested and see a surprisingly high price achieved.