One of the many advantages to selling your home via auction is the speed at which your sale can be processed. House auction sales remove the often lengthy process of finding an interested buyer, and the risk of the property chain is removed. Exchange of contracts takes place when the hammer falls, and the purchaser has 28 days to come up with the balance. All in all the whole process takes about eight weeks from market to sold. How’s that for efficiency!
Property auctions have historically been most commonly used for the sale of repossessed homes, but are becoming increasingly popular amongst all kind of properties and vendors looking for a quick sale, plus prices only go one way at auction and that is up!
Some of the main reasons for selling at auction are:
The vendor may require a quick sale.
The property may have been repossessed.
The property may require significant redevelopment or refurbishment.
The property may have proved difficult to sell on the open market perhaps because it’s unique or difficult to put a definitive price on.
When thinking about selling a property at auction, it is important to select the right auctioneer. Auction houses fall into two groups: local and national. A national auctioneer would include 100s of properties from around the UK in one auction which is usually held in London. In contrast, a local auctioneer, usually a small estate agency company will hold a small auction above a public house or a village hall and is only likely to attract purchasers located within the region.
Auction houses that are able to offer both, such as Countrywide Property Auctions, often provide the best solution. Auctioneers such as this sell properties at key regional centres and include all regional properties in a single catalogue.
Key benefits of auction houses that offer a regional approach and market to the whole of the UK are:
Accessibility – Purchasers do not have to travel long distances.
Comfort – Regional auctions are more ‘user friendly’, typically having about 40-50 lots rather than 100s.
Venues – Strategically located; often close to strong transport links.
Market – Regional auctioneers have specific knowledge of their area.
Peace of Mind – Regional auctions attract a variety of buyers.
Therefore choosing the right auction house is important. A specialist property auctioneer will use newspapers, property portals, and their own websites to advertise property for sale. Additionally those with links to an estate agency network will advertise property in relevant branches.
For more information about property auctions contact Countrywide Property Auctions.
Countrywide Property Auctions are one of the UK’s largest regional property auctioners, holding more than 25 auctions in England, Wales and Scotland each year. To discover how we can help you sell your property at auction, get in touch at email@example.com or call 020 3151 9172.