Why Auction?
Many people who are considering buying or selling a property may be unaware that a sale by auction may be as good or even better method than more conventional means.
Auctions have become more popular. For the buyer, it is a transparent process. The sale is binding at the fall of the gavel and the completion date is fixed in advance.
As with choosing an Estate Agent, your choice of auctioneer is very important.
We are in a position to advise you with the benefit and confident experience developed as property auctioneers.
Properties at auction can require general modernisation and repair. With buyers confused as to what the repairs may cost, to further support your sale we can also include a Home Condition Report with repair estimates which can be most effective in encouraging higher bids, as inexperienced buyers may over estimate renovation costs and set an unrealistic limit on their maximum bid price.
For the seller the amount of competition at sales often means that auctions achieve higher prices than private treaty sales.
In general you should not seek to buy a property at auction if your purchase is dependent on the sale of another property on which the contracts have not been exchanged.
If you are considering the sale of your property by auction, you must be able to give vacant possession at a fixed date, unless the sale is subject to tenancies, this is usually four weeks after the date of auction. You will therefore need to have access to alternative accommodation and/or storage of your furniture and other belongings.
