Posted on: Friday, March 9, 2018
Have you thought of selling your home at an auction? It’s not only developers and bargain hunters that buy at auction. In fact, homes of every price and finish are selling through the modern method of auction. This is what you need to know.
How long do Auctions last?
Auctions can run for 14-28 days, so buyers have time to set their budget and bid accordingly.
When will completion happen for auction sales?
It’s a quick turnaround so you can move faster. Completion will happen within 56 days of sale.
Who can bid for my auction property?
Both cash buyers and mortgage buyers can bid for your home. They just need money up-front for their reservation fee.
Non-refundable reservation fee
Fewer sales fall through because of the non-refundable reservation fee, so you can be more confident in your sale. Plus, everything happens safely and securely online.
Save money on estate agent fees
You can save money on estate agent fees. With an auction, the buyer pays the auction fee so there are no fees for the seller. You may just need to pay a small marketing fee.
Higher price than expected
Competitive bidding can drive up the sale price, so you could sell for a higher price than you expected.
The Guild is a network of the best 800 independent estate agents around the country. Your local Guild Member can help you sell through the modern method of auction, so you know you are dealing with a local property professional.
Find your closest Guild Member at guildproperty.co.uk/find-a-guild-member
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