Land & property auctions
There are many advantages to selling by auction, rather than by private treaty or tender.
Auctions offer a good chance of a sale being agreed on the day of sale. The fall of the hammer constitutes a legally binding contract, which is formalised by a signature on the Memorandum of Sale. This avoids the delays and price negotiations that are often part of buying and selling property through the private treaty process.
Selling by auction will provide your property with wide exposure to the market. The auction will be heavily advertised in the property press and on the internet leading up to the auction date and catalogues will be distributed to an extensive mailing list of buyers and agents. This maximises exposure to potential buyers with funding in place, ensuring that the property is showcased to the right audience and should encourage competitive bidding to produce the best price available on the day.
To ensure competitive bidding and the best price, it is essential that the initial Auction Guide Price is set correctly to encourage interest.
Certain ‘unique’ properties are often difficult to value, due to their special nature, and there can be no better way to achieve a property's market price than by selling at auction. Properties suitable for auction include:
- Unmodernised Properties (with and without defect)
- Unique Properties
- Building Plots
- Agricultural Land/Pony Paddocks/Woodland
- Investment Property (mixed use)
- Residential/Commercial Properties