On the face of it an auction is a very simple and straight forward method of selling a property with the ability to work to a definite time table, culminating in an exchange of contracts on the day of the auction. Sadly auction is not right for every circumstance. Not only does the property have to be appropriate for auction but the vendor needs to suit the process. A property that generates interest and competition in the room allied to a sensible guide price will more often than not sell well. However the vendor must be able to provide vacant possession, usually 28 days after the sale and to a certain extent they must trust in the auction process to allow the market to determine price. An unrealistic reserve can deflate the most exciting of property lots. However when both the property and vendor are suited the results can be astonishing with fantastic prices achieved.
We recently sold a bungalow for a client from Canada who flew in to sell his late parents property. He could not believe that it only took 4 weeks from landing in the country to finding a buyer and exchanging contracts at a price well in excess of what he had been offered privately.
Contact Ben Marshall or one of our Agents in your local branch to find out whether your property will be suitable.
Woolley & Wallis acted for me in the sale of a significant parcel of land. Their advice to take it to the market by more than one route including public auction was clearly beneficial. Their knowledge of the area, and the hurdles one needs to avoid in executing a successful sale were especially beneficial.
Vendor Oliver Dowding