Benefits of Selling at Auction
Benefits of Selling at Auction
There is no faster way of selling. The process can take as little as four weeks from instructing us to an exchange of contract. You will likely bank the proceeds of your sale within 0-8 weeks from going on the market.
Chance of Success
Auction gives you a greater likelihood of selling your property than by private treaty. If you need a certain sale you really should consider the auction route.
Legal and Binding
When the hammer comes down you have exchanged contracts, your buyer is legally committed and cannot change his mind. You will be so much better off than using the services of an Estate Agent where typically upto 30% of cases fall through before completion.
Higher Profile Marketing
All auction lots are advertised on multiple websites including Rightmove.co.uk, the United Kingdom’s number one leading website for house sales and proactively sent out to a targeted database of local, regional and national buyers. Your property will be featured in our high quality catalogues which are emailed to our entire customer database and mailing list.
Open House Viewing Days
We set up special viewing days for your property. Each is hosted by a member of our Auctions team who talk knowledgably about the potential that your property offers, and can answer all manner of questions from potential buyers. It is by talking with these viewers that we judge and develop their interest, and help guide you in setting the right Reserve Price.
Our aim is to generate interest from two or more prospective buyers and to encourage them to bid against each other in the Auction room. The process of competitive bidding helps your property achieve ‘best price’ on the day. Sometimes buyers are so anxious to acquire a property that they will put in a very strong pre-auction offer – if in our view that figure is unlikely to be reached or surpassed in the Auction Room, we will recommend its acceptance under auction rules, and with a condition that contacts are exchanged in advance of Auction Day.
Often properties achieve a sale price at auction in excess of the Guide Price. Regularly the result is ahead of that which might have been acceptable with a Private treaty sale, but you can always be sure that it has achieved its best price on the day. This is especially important on Probate properties where Executors have a duty to achieve ‘best price’ when sale by auction is chosen this is guaranteed and it’s also open to public scrutiny.
No further negotiation
With private treaty sales the price agreed isn’t often the price that you finally receive. With Auction there is no renegotiation, no discounting to take account of survey findings or any last minute changes. With Auction your buyer will have fully researched the properties condition prior to bidding and cannot reduce the sale price after the hammer falls.
If you are in a hurry or have a deadline to meet, then Auction could well be right for you. From the outset you will know the date of the Auction and legal completion will usually be set for 28 days thereafter. This timescale is fixed and legally biding to both parties. Financial pressures and the need to relocate or dispose of a property within a specific time frame can be accommodated are almost always met with a sale by Auction.
Continuing Tenancy Income
Many investment properties are now being sold by Auction without vacant possession being obtained in advance. By retaining the tenant the vendor will continue to receive rent until completion date and the purchaser will start receiving an income from that date onwards. APS sells a wide variety of occupies properties – Regulated Tenancies, Houses in Multiple Occupation, Assured Short holds and other that are let commercially.