Recently we have started working with Under The Hammer, the UK’s property auction website. We are now able to offer our clients the option of buying or selling through auction!
Auctions are a great way to ensure a secure, profitable and quick sale! There are several benefits to selling your property via auctions. Firstly, you have the security of knowing that when you accept a bid on auction day, you instantly exchange. This means that the buyer pays a 5%* deposit on the day, as they have already had the anti-money laundering checks completed prior to bidding. Therefore resulting in everything completing at a much quicker rate, and reducing the chance of being affected by time wasters.
Probably the biggest incentive for selling or buying through an auction is the fixed time frame. All of the searches and enquiries are done before auction day, which allows buyers the chance to read them before bidding. The property is then guaranteed to complete 56 days from the auction.
The main benefits of SELLING at auction are:
- You maintain control of the sale
- Security of an agreed sale
- Fixed time frame
The main benefits of BUYING at auction are:
- Security of knowing that the property is yours 56 days after your bid being accepted
- The reassurance of immediate exchange when your offer is accepted
- Transparency of being able to read all legal documents before bidding
Although any type of property can go to auction, the best ones are those that are:
- Chain Free
- Have probate granted
- Naturally would get large volumes of interest on the market
If you are interested in learning more, then please do not hesitate to get in touch.
*Subject to fee’s