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Heading Towards The Hard Sell.
(From Hull Daily Mail)
We all know about the thrills of buying, or bidding for, a property at an auction but what about those wishing to sell a house or flat? Ukpad.com recommends the following helpful hints to make sure that you get the most from your auction experience, and how to prepare before hand.
Selling your home at auction is by no means suitable for everyone. Here are some pointers which may give you an idea of whether or not you are at all interested in the idea.
Just as when choosing an estate agent, your choice of auctioneer could have a great bearing on the likelihood of you finding a buyer at the asking price. Firstly, the auctioneer should be a member of the Incorporated Society of Valuers and Auctioneers.
Ideally, your property should be in the same ballpark price range as the other properties in the catalogue. If 99 per cent of the properties for sale at the auction are derelict houses in a low value area in need of a lot of work, you are unlikly to have much joy selling a substantial Victorian country residence.
The auctioneer will seek to enter into a sole agency agreement with you, as regards the property. This means that they will advertise your home in brochures and catalogues on your behalf. Unfortunately, it also means that you are liable for the costs of that advertising, as well as a portion of the room hire fee. You are unlikely to find an auctioneer who will sell your property on your behalf without an arrangement.
Also, the auctioneer generally charges the ...
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