IS YOUR PROPERTY RIGHT FOR AUCTION?

Historically, many believed that auction property was built around run-down dilapidated homes – un-mortgageable property that could not be sold via any other platform…. In today’s modern auction, this simply isn’t the case!

The online auction room is opening up to a far broader audience, in terms of both buyers and sellers.

It’s important to note that private sellers account for over 40% of auction sales. This is typically where traditional sales have fallen through multiple times and the seller is looking for a quick sale.

Residential or commercial properties with tenants in situ can also be sold at auction. Having a tenant in place can often be an attractive propopsition to a potential buyer who will benefit from an immediate income once they secure the property.

Probate properties will continue to form part of a typical auction room catalogue. These properties are often in need of improvement and there is a desire to sell them quickly and in the most simple way possible. 

Properties with structural or defect issues are perfect for auction. The suggested guide will take into account any concerns, which often mean that the property is considered unmortgage-able by a high street lender. Short term lending or bridging may be the way forward in this instance and auction houses often partner with bridging companies during auction periods.

There is a growing appetite for commercial property, which is increasingly being considered a sound long term investment. Well priced commercial lots often attract significant interest at auction, as does development land.

A modern auction room is certainly a far cry from traditional perceptions!

If you’re property ticks any of the above, and you’re interested in selling at our next auction, please get in touch aas@smithandsons.net