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The Benefits of Auctioning a Property

26-April-2019
26-April-2019 9:35
in General
by Admin

Over recent years, auctioning properties has become increasingly popular with homeowners because it’s faster and cheaper, but just as reliable as mainstream selling. If you have been thinking about putting your property up for auction, but unsure where to start; S J Smith are here to tell you all you need to know about the benefits of auctioning your property and how we can help you all the way. 

Fast and fixed timelines

The buyer must complete within 28 or 56 days, meaning your property gets sold faster with no problems and from instruction to completion, your sale can take as little as 8 weeks. This is a fixed timescale and is legally binding for both parties.

You won’t have to “settle” for a sale

A reserve price is agreed on your property before it goes to auction. This puts you in charge as you set this price as the lowest figure you would accept, meaning your property cannot be sold for anything less than that amount. With auctions, you are unable to negotiate on price after the hammer falls; it is the buyers' responsibility to do full research on the property before bidding.

Marketing

Properties are listed on the auctioneer’s website and your property will also be featured on online property portals such as Rightmove and Zoopla, brochures and details about your property will also be sent to prospective buyers, and the online platform will allow your property to have wider advertising and interest.

Hassle-free

The sales process is quick and hassle-free; the auction company do all the legwork, sell your property and take the normal selling-stress out of your property sale.

You pay no fees

The buyer pays the commission so your house gets sold at no additional cost to you.

It’s a secure deal

Once the sale is agreed, the buyer immediately pays a non-refundable deposit, which is all legally-binding, meaning the sale is highly likely to succeed – fewer than 1% of sales fall through! 

If you would like to discuss auctioning your property, get in touch with us here