Questions you should ask a property auctioneer when selling your house or flat
If you are thinking about using a property auction to sell your home in Bexleyheath, there are pros and cons to the method – just as there are drawbacks and benefits of selling your home via an estate agent or fast buyer.
Among the potential benefits of an auction is the fact that you might have a lot of people looking to buy your house or flat and they keep trying to outbid each other, which will push the final sale price higher. And the date of the auction gives you some certainty about selling your home, as a winning bid is deemed a legally binding agreement to buy your home.
But there can be a few drawbacks of selling your home this way, including the fact that you might have to wait possibly a few weeks or longer after listing your property for sale until the auction takes place. And there could be an even lengthier wait after a successful auction if there are any delays in completing the paperwork involved with finalising the sale.
As a result, it’s useful to be as informed as possible before deciding on a particular auctioneer to sell your home. Use the questions below as helpful guidance on the top issues you should ask a property auctioneer so that you are fully aware of all aspects of the process.
Moving home can be expensive and that’s why it’s important you are able to prepare a budget as accurate as possible, and that includes knowing how much you can expect to pay an auctioneer for selling your home. They will charge you a percentage of the final sale price, although it’s possible that you might be able to make the winning bidder pay this cost.
You want to know that an auctioneer will work hard to generate interest in your house or flat so that there is more than one person who wants to bid on it when the auction takes place. Asking this question will give you important details on how the auctioneer will prepare the listing for your property as well as the steps that they’ll take to advertise that listing.
Another good question to help you learn more about a specific auctioneer’s track record with successful sales, especially when dealing with your type of home. If you have a unique situation, for example you’re trying to sell an inherited retirement home, you will want reassurance that an auctioneer knows how to make sure such a property will sell.
