Property auctioneer Scott Gray, who has appeared on BBC's Homes Under the Hammer, writes for the Journal.
Whether you are selling property or land, I have always held the belief that the process should be exciting and hassle free.
But would you consider this as a way to sell? Many have questions about the process or perhaps don’t fully understand why you might want to sell via auction.
I often speak to new vendors who are unsure of the process or uncertain as to what the benefits would be.
As an Auctioneer I am always open with my clients and will view their property and give an honest opinion if the property or land would be better off being sold via a traditional Estate Agency route. 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 wide spread 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.
If your property is chain free Auction could be the perfect way to sell and you may receive a higher price than you expected. If you would like to ask me any questions – you are always very welcome to contact for further advice.
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