Today private sellers like you, are choosing to sell through the sale room.
Why? Well two reasons. There is a clear timetable for the sale – 28 days or less. Great if you're looking to sell your house quick.
Also, in today’s market, if the marketing is done right, you get a good price. This partly explains the increasing number of properties being sold through the sale room - at ever higher prices.
The average price of an auction lot rose a whopping 30% during 2006. What's more these days around 50% of the people attending residential auctions are private buyers. The two statistics are almost certainly linked.
Here you will find out exactly how to sell your house at auction:
√ A quick history of property auctions
√ Which properties sell well and why
√ Why you can achieve a good price in the sale room
√ How to use auctions to sell your house quick
√ The advantages of selling through property auctions
√ The risks of selling at auction
√ How to manage the risks
√ How to choose an auction
√ How property auctions work
√ How to make people bid on your house
√ The main things to consider when selling property at auction
The main question to consider is whether a property auction is the right place to sell your property. But before we consider that it's important to have some background on
and who has been buying at auctions. The house auction scene has changed quite dramatically in recent years.
The advantages of selling at a property auction
You get a commitment to buy. The contract of sale comes into force as soon as the gavel falls.
The timeframe is usually much shorter than for properties sold via estate agents. Ideal then if you want to sell your house quick.
The format lets bidders drive up prices. Competitive bidding at a
for some types of property can achieve close to open market or better prices.
You won't be messed around by buyers (or at least the possibility is extremely remote). There's no room for re-negotiation or gazumping.
All this assumes a reasonable reserve and guide price. But more about that later.