Are Property Auctions The Best Way To Sell Your House?
Auctions used to be for unique properties such as churches, lighthouses and farmyards, nowadays though, residential homes are becoming more common in this arena, but why?
Although this is partly due to the popularity of TV programmes like ‘Homes Under The Hammer’, buyers attend for the same reason they always have – to bag a bargain! Whether motivated by ambitions of a career in property development or simply looking for a place to live, buyers are keen to take advantage of sellers looking to shift their homes as soon as possible.
With many buyers bidding for lots without actually physically seeing the property prior to the purchase, they are understandably cautious and seeking to mitigate the risk by getting a lower price than you would typically expect on the market.
That isn’t to say, on the other hand, that the process cannot be mutually beneficial. Sellers, after all, can set a reserve price and may even sell their property close to, or sometimes even above, market value as a result of buyers bidding it up.
Nevertheless, it goes without saying that those properties that usually do well in this environment are high-standard properties with small mortgages that allow the seller to attach a higher reserve price.
This is because, and perhaps a little surprisingly, the auctioneer provides more than just a suggestion with regards to the reserve price. The auctioneer will not auction properties with a reserve price they consider to be too high. The quality of the property and the size of the mortgage in relation to the property’s value being the main factors affecting this decision.
So why do people opt to sell their homes at auctions?
Fast equity release is the simple answer. This could be because they want to avoid having their property repossessed and the incredibly damaging impact this can have on an individual’s credit score. It could also be because they are relocating for work, or emigrating abroad. For some, it is also the chance to make a clean break from a divorced partner or to get on with life after the death of a loved one and enjoy the inheritance as it was intended.
No matter the circumstance, here at National Homebuyers we believe we provide a quicker, easier and fairer solution than auctions do. Our offers are not based on a postcode or regional average but on an individual basis. The sale is also guaranteed with us, unlike property auctions.
We do not demand the same expensive auctioneer fees either. Auctioneers typically charge 2.5% of the selling price, but this can be as much as 4%, with marketing fees and solicitor costs being the most significant costs on top.
We also provide a much faster turnaround than at auctions. Notwithstanding the time it takes to find an auction house and market the property, it usually takes about a month for the settlement to complete. Of course, the quicker the sale the less the seller will pay in tax, insurance and in general maintenance costs while they still own the property.
So, if you want an individual, no obligation valuation for your property with the guarantee that a fast cash offer will be made, get in touch with National Homebuyers now. You can do this either by filling in the form on the right hand side of the page, by taking advantage of our ‘Live Chat’ instant messaging service or by giving us a call using the number at the top of the page.
National Homebuyers – We Buy Any House
National Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!
If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve you aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.
Get your no obligation cash offer now by using the Get Offer on the right hand side of this page and take the hassle out of selling your home!