Is downsizing a solution to cope with rising energy prices?
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With energy prices already on the rise and current devasting factors playing a role in this being impacted further, not a day goes by without a conversation with a colleague or client which doesn’t touch upon the rise in the cost of living to date and future rises that will affect us all. Reports state figures of outstanding rises to our fuel and energy costs and it's difficult to comprehend how households will cope with these increases.
Perhaps you are considering home improvements to support the rise in costs: insulation, smart meters, solar panels or better windows to curb the increasing bills. Speaking with some clients, those with investments or families looking to downsize to cut their annual outgoings, some are looking to sell, and I get many questions regarding the benefits of selling up using the method of online auction. As such, I thought I would touch on some FAQs to revisit how an online auction can provide a safe, speedy and secure method of sale for a property (or land) with no chain.
So, what are the benefits? No need to wait to sell comes out top, the ability to set the date the timer ends. Selling via online auction gives you the flexibility of choosing a point in time that suits you and will therefore give certainty that the selling process will have completed when you want it to. Exchange takes place at the fall of the hammer. Therefore, once your buyer has committed there is a certainty from that moment, unlike the traditional Estate Agency route where buyers can decide to walk away some way into the process meaning lost fees and time for all.
You also set your reserve price – meaning a bidder can’t buy your property for less than you would like to sell it for. The process of selling via Auction provides security as we are legally bound to verify buyers before they can bid. Ensure you have your solicitor organised from the beginning to make sure the legal side runs smoothly whilst the timer ticks away.
Good auction houses will promote their lots via the well-known property portals but also have a database of ready to go Investors – so there is a widespread of buyers out there seeing your property, many motivated cash buyers. Online auction is fast, certain and most importantly it is completely safe and secure for both sellers and buyers alike. Please do call if you have any questions.