Top 5 reasons to sell your property at auction

Fri 20 Apr 2018

Have you thought about selling a property at auction? More people are putting their homes under the hammer in order to ensure a quick, simple and reliable sale.

Property specialist Leaders, which offers an auctions service to sellers across the UK, has noted an increase in the number of properties being made available at auction and revealed some of the factors that make auctions such a great place to sell a property.

Simon Clayton, Director and Auctioneer at the Leaders Romans Group, says: “Property auctions are more popular than ever, with both buyers and sellers realising they offer the ideal scenario in which to achieve their aims and complete a swift transaction.

“Sellers can set a reserve price so they know the minimum they will receive for a home should it be purchased, while they also benefit from the security of a guaranteed sale that only auctions can provide.

“People may be surprised by just how effective and rewarding modern property auctions are, so the best option is to speak to one of our auctions experts to find out how you could take advantage of this selling method.

“Auctions work extremely well for people who need a quick sale and executors looking to settle an estate, but there is no reason why even more people cannot benefit from this type of sale.”

Simon has picked five great reasons to sell a property at auction:

1) A speedy sale

Once the hammer falls and a property is sold, a completion date is typically set for 20 working days later. This allows sellers and buyers to complete a faster move than they would expect to via traditional methods.

2) Get the best price

With numerous buyers in one room, a bidding war often ensues. This helps sellers to get the best possible price and ensures a competitive bidding process.

3) Ultimate security

Contracts are exchanged on the day of the auction, with due diligence completed prior to this date. It means sellers enjoy the benefit of knowing their sale is guaranteed and will not fall through.

4) Reaching the perfect audience

Property auctions attract a huge number of potential buyers, allowing sellers to tap into a large captive audience. In addition, a good agent will carry out extensive marketing in the run-up to auction day.

5) Complete transparency at all times

With all bids made in public, sellers will know exactly who is prepared to pay for their property. And with a reserve price set in advance, the selling price is sure to be satisfactory for all parties.

For more information on selling a property at auction visit leaders.co.uk/pages/property-auctions.