Have you considered buying or selling at auction?
Property auctions offer a fast and effective way of buying or selling a property or piece of land.
Stuart Collar-Brown of Wiltshire based auctioneers Strakers comments:
“There has been a noticeable increase in the number of normal house buyers and sellers who are choosing the auction route”
Why sell at auction?
Usually 4 weeks from the start of marketing to exchange of contracts
Contracts will exchange if your reserve price is achieved
You decide what the reserve price is and when the completion date will be
The property will sell to the highest bidder in the auction room
The likelihood that your property will sell
What types of property are suitable for auction?
- Houses and bungalows needing modernisation
- Probate sales
- Commercial and residential investments
- Building plots
- Farms, paddocks and agricultural land
Stuart, NAVA Novice Auctioneer of the Year 2014 winner, says:
“There are several types of property which are ideal for sale at auction whether it be a refurbishment opportunity, an investment property with tenants in place, a building plot or a property on which you cannot obtain a mortgage. However, often it is the vendor’s situation which makes auction the best way forward – selling on behalf of a family in a probate situation or if you wish to sell your property in the quickest possible time”
Why buy at auction?
You could exchange contracts within days of viewing the property
On the fall of the hammer the property is yours and you can’t be gazumped
All bidding is public so you can see what others are offering
“For anyone who would like to find out more I would always recommend they attend one of our auctions. As well as being great events it allows people to get comfortable with the process and how it all works, whether you are thinking about selling or buying”, Stuart comments.
What should I do next?
So whether you have a property to sell or are thinking about buying it might be worth considering auctions.
To find auction property on Rightmove search in your required location and use the auction filter on the left hand side.
Alternatively, you can sign up for Rightmove’s Investor Newsletter and you will be updated with details of auctions happening in your area.
Auction property currently available on Rightmove
Strakers are a leading auctioneer based in Wiltshire, holding auctions in Bath, Swindon & Devizes.