Property Auction Solicitors
Selling Properties at Auction
Selling a property at auction can be an exhilarating experience. It offers a fast, transparent, and often lucrative method of selling property.
With the gavel’s final bang, your property is sold, and contracts are legally binding. No going back, no last-minute haggling. Call 01473 229888 for a quote.
Selling a Property at Auction
Selling a property at auction refers to the streamlined process of selling a property to the highest bidder in an public auction. This method bypasses the often lengthy negotiations and back-and-forths associated with conventional sales.
However before selling a property at auction we would always recommend you seek legal advice first. Our Property Auction Team can produce you the legal pack required to sell your property at auction, in addition to providing insights into the auction process, ensuring you’re well-prepared and protected.
Need it quicker? We offer a 24 hour service from £900.00 plus VAT*
48 to 72-hour turnaround from the point of receipt of your legal pack*
Fixed fees on all our legal pack review services
Instruct us online and submit your legal pack 24/7
Understanding the Process and Potential Risks
While selling a property at auction can offer numerous benefits, it’s not without its challenges. The property might not reach its reserve price, leading to a no-sale. Additionally, the costs associated with auctions, such as listing fees and auctioneer commissions, can add up.
Given these considerations, it’s crucial for sellers to be well-informed about the entire auction process, from listing to hammer fall. Understanding potential risks and rewards will enable sellers to make an educated decision.
For more information about buying or selling at Auction please watch our latest YouTube video.
Why Consider Selling a Property at Auction?
Speed: One of the primary advantages of selling a property at auction is the speed. Once the gavel falls, the sale becomes legally binding, eliminating prolonged waiting periods.
Ideal for Properties Needing Refurbishment: Auctions can be particularly beneficial for sellers with properties that require significant refurbishment. Such properties might attract investors or developers looking for a project, and the competitive nature of auctions can drive up the price.
Market Conditions: In certain market conditions, especially when demand is high, auctions can yield higher than expected prices due to competitive bidding.
For more information about buying or selling at auction please visit our YouTube channel or watch an interview that Managing Partner Nick did with Ranjan Bhattacharya.
*The timescales quoted do not include weekends.
