We can be fairly traditional beings with preconceived notions regarding many facets of life.
Selling a property at auction is one of these.
Many myths abound, regarding property auctions, which are generally believed.
Yet at Town and Country Auctions we have seen an immense rise in the popularity of residential properties being sold at auction.
The belief that a property going to auction only if it is distressed is no longer the case.
Our clients are driven by the need for convenience and time saving, which is supplied by means of property auctions.
Selling through an estate agent can involve very lengthy and complicated chains.
On average, in the UK, 35 per cent of sales fall through, causing enormous stress and financial cost to both vendor and purchaser.
Selling at auction gives peace of mind.
With the fall of the gavel, exchange of contracts is instantaneous, with completion generally 28 days thereafter.
The vendor is safeguarded by the reserve price agreed prior to the sale and spared frequent, unscheduled requests to show the property.
Further, the seller is not involved in any negotiation process, which can be a very time-consuming exercise.
Another significant advantage is that potential buyers are pre-qualified for finance, thus eliminating the wait for purchaser to apply for finance after making an offer and is ultimately unable to conclude the transaction if the application is refused.
A pertinent point, typically, is the purchase price exceeds the seller’s expectations, as competition between the buyers promotes higher bidding and organically drives up the price.
If you are interested in potentially selling property or land, at auction, Town & Country Auctions would be delighted to aid and advise, accordingly.
• Robert Jenkins, Regional Director at Town & Country Property Auctions