Selling At Auction

  • The seller sets the terms and conditions of sale and creates a deadline (the date that the auction is to be held).
  • This auction-oriented target marketing puts a 'spotlight' on the property and shows the vendors motivation to sell.
  • The 'no price' aspect will attract more genuinely interested, cash-in-hand buyers.
  • It allows sellers to plan ahead in the knowledge that a specific date has been set for the sale of the property.
  • A sale by auction is unconditional and allows the transaction to proceed to settlement without delays.
  • A sense of urgency is created by the set deadline, bringing interested buyers to a point of decision.
  • The property is neither overpriced nor undersold; its value is determined by the market, in the form of bids or offers.
  • A successful purchase requires a payment of a deposit on the day of auction.
  • Market feedback will assist the seller to decide on a reserve price, whilst still allowing for the possibility of achieving a premium through buyer competition.
  • Auctions provide a transparent arena where buyers compete against other public offers, taking away the guesswork.
  • The seller always has the option to accept an offer prior to auction, if a desirable offer is received.
  • Prospective buyers will be focused on establishing the maximum price they will pay, not how little they should offer.
  • A premium sale price can be achieved when multiple interested parties compete against each other to secure the property, through bidding.
  • The seller controls the terms of sale and can choose to allow variations to the date of settlement or deposit amount required.
  • If the property is passed-in, it will be released to the market as an exclusive listing at a saleable price, which will be established from the market feedback received throughout the auction campaign.