Selling property at auction remains a popular way to sell and, with the changes in the financial climate over recent years, makes the auction option even more attractive for both sellers and buyers alike. Over 25,000 properties are sold at auctions every year and if a property is difficult to sell, they could be a quick and decisive alternative.
There are many advantages of selling at an auction:
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Certainty - properties are not sold `subject to contract' in the same way as occurs via a traditional estate agency sale method. The successful bidder is legally obliged to complete the sale once the gavel falls
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Good marketing exposure - many auctioneers advertise in national, local and trade press and attract an audience of developers, portfolio landlords and property investors
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Good sale price - with a set guide price, your property should be able to achieve the best possible market price
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Speed - sale is relatively quick and completion usually takes place 20 - 30 days after the auction. The contract is legally binding when the gavel (auctioneer's hammer) falls.
For more information on how to find a local auction, please click here