Auctions have become recognised as the most effective way of selling a property decisively in the shortest possible period of time. Gone are the days of property auctions only being regarded as a sale of last resort; sellers are increasingly seeing some excellent results – for the following reasons:
- An auction creates a “day of destiny” by stimulating intense activity over a concentrated period of time, which can lead to a higher sale price than usual.
- The sale is straightforward and always from an able buyer with no related sale.
- Any survey or mortgage application is conducted prior to the auction, when the fall of the hammer equates to an instant exchange of contracts on the day, although there is usually no obligation on the seller to accept any bid. Indeed, sometimes negotiations continue to a satisfactory conclusion after the auction has ended.
- Buyers are keen to buy at auction because of the preconception that they may pick up a bargain. The more buyers who are interested in the property, the greater the competition, as everybody wants something other people also want! It is this platform of competition between buyers that ultimately results in the highest bid on the day.
- Auction properties enjoy wide exposure to the public as well often being the preferred buying medium for professional and overseas investors.
We regularly achieve great results for our auction clients. So even though you might not have considered the auction route – why not contact us and see how an auction could work for you. You might be pleasantly surprised how readily we can get you moving.