Should I sell my Newark property at Auction? Simon Clarke certainly has a strong opinion on this subject, he says:
“Quite often people perceive an auction sale as being the last resort but, it ought to be the first method of sale.
We are seeing an increased number of Vendors deciding to sell in an auction due to the speed and transparency of a sale. Therefore, Opal Property Auctions operate the only 24/7 5-day live auction.
The traditional Private Treaty sale is the most common method of residential property sales in the UK. However, it can be an inefficient solution for vendors looking to complete their property sale quickly and securely. The status quo has left vendors confined by limited, slow and unreliable methods to sell their properties.
This is far from ideal for vendors selling a property due to changing life circumstances. Selling in a live auction offers piece of mind to vendors that there can be no renegotiating on a price once a sale is agreed and if a buyer fails to complete, they will either lose their reservation deposit and Buyers Premium or they will face legal proceedings.
Selling a property at an auction is ideal if you wish to remove the uncertainties and frustrating complexities of a normal private treaty sale with 1 in 3 sales falling through.
A sale in our live auction demonstrates the best possible price has been obtained, considering the current market conditions and the position and repair of the property.”
The best possible price is obtained at a live auction but what is the audience likely to be? That price may have been different had more people had access to bidding for your Newark property. We all know someone who would never go on-line and bid for a house at auction.
You still need to allow adequate time for the property to be marketed and as I showed in a previous post the quality of some of the pictures leaves a lot to be desired.
There is a balance to be struck between a traditional estate agent and an auction, so what is really needed is a drastic change in the buying system that does not allow people to pull out of a sale unpunished.
If you are struggling to sell your Newark property then contact us for a fair price for a fast sale.