The guide to selling your house at auction & alternative options
Selling a house at auction can be a good idea if your property has structural issues or any other problems that could prevent it from selling via the open market.
Quick cash buying companies, like ours, however can buy any property, in any condition and will save you the hassle of having to sell your property yourself.
There are several things to remember when you are considering selling your house at auction. To help you understand how the whole process works, we’ll walk you through it.
Buying a house at auction is relatively straight forward, but if you’re new to auctions then we’ve got some information to offer you an insight into how the process works.
The whole process takes around 28 days, but it might be sooner, depending on if you accept an early bid or a buyer settles their remaining balance faster than expected.
If you’re considering selling your property at auction then it is really important to weigh up the pro’s and con’s of this service.
✔ Quick sale
✖ Sale isn’t guaranteed
✖ Uncertainty over how much over your reserve price you’ll make until the auction actually takes place
✔ Competitive – you could get a great price for your property if it is marketed to create a buzz
✖ High fees – entry fee as well as possible commission fees once the auction completes
✔ You keep control because a buyer can’t, legally, pull out
✖ You’ll need to move out quickly because the completion time is only a matter of weeks
✔ Property investors are always looking for projects so ‘problem’ houses are attractive to them
✖ All sales are final so you may feel disappointed if you don’t get what you expected and you can’t back out should your personal circumstances change
There are alternatives to selling your property at auction. Quick cash buyers can also buy any property, in any condition and for a fair price.
Selling a house at auction could cost nearly £1200 plus VAT in solicitor’s fees and then the auction fees are on top of that, at around 2.5% of the final sale price of the property. Even if your property doesn’t sell, you’ll have to pay the auction fee. The Property Buying Company covers all legal fees and doesn’t charge commission, meaning that the amount we offer you is the amount you’ll receive.
Although a number of properties can do well at auction, it is a gamble. If you don’t meet your reserve then you’ll still have to pay the auction fees AND sell your property. Always seek advice from the auctioneer before agreeing to sell your house via this platform. They are experienced enough to let you know if your property is likely to sell and for how much. Don’t go ahead with it if you feel uneasy about anything and if you need a quick sale of your property remember that there are other options available to you.
Selling a property at auction can be a great way to get rid of a problem property and it can be pretty exhilarating. However, if you want to guarantee the sale of your property then a quick cash buyer could be a better option. The Property Buying Company will offer you a fair cash sum, will complete in a timescale to suit you and will include all legal fees so there are no hidden extras to worry about down the line. What’s even better is that no property is off-limits, even ones that are in need of a lot of renovation or repair.
Interested in finding out more about our service? Get a free house valuation by calling us on:0800 024 8444
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5 simple steps to having your property sold!
Our quick (but thorough) 5 step sale process means we can buy your house fast and at a great price
Check to see if your property is eligible check now
Receive an offerfrom us within 24 hours
We’ll visit your property & formalise our offer
We’ll instruct solicitors and pay all fees
Exchange contracts & complete as usual
Rated as Excellent - aww thanks guys!
Independent reviews of our service from reviews.co.uk
Great company to work with!
Had great dealings with The Property Buying Company. Slick in their operations and very professional.
Circumstances dictated that I sell my two properties (one left due to bereavement) very quickly,as could not wait for traditional estate agent sale. I must say that the support and professionalism of this company is second to none (mention must go to Jo/Dan/Amy/Fiona-in order of when I contacted them). Did not quite get what I wanted but nevertheless cannot fault the way they handled the purchase process and all things considered am very satisfied.-MANY thanks to you all. Roy and Lyn
Great company to work with, efficient. Justine Middleton was especially helpful. Thanks from the team at Goodchilds Estate Agents
I am delighted that I asked The Property Buying Company to purchase my flat. From acknowledging the contract to completion, everyone with whom I was in contact was professional and helpful, while remaining very friendly. Calls and emails were attended to promptly.
Why sell your house to us?
We’re one of the leading buyers of residential/commercial property and land in England and Wales. We buy using our own cash facility meaning we can offer the best prices in our industry and complete the sale quicker than anyone else.
|Your options||Average sale length||Typical cost to you|
|The Property Buying Company||2-3 weeks||£0.00|
|Other House Buying Companies||2-10 weeks||£1000|
|Property Auction||6-10 weeks||£2500-£5000|
|Online Estate Agents||16-52 weeks||£1000(upfront)-£5000|
|Estate Agents||16-52 weeks||£5000|
Unlike most of the other options available to you, we are not a broker or middle man, meaning you skip the fees and get a sale quickly and easily.
The Property Buying Company is registered with the Property Ombudsman and is a member of the National Association of Property Buyers
Properties bought by us for cash in
the last 2 years
Of our own money spent buying
property for cash
Average time taken from initial offer
We'll beat any genuine cash offer!
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