Traditionally most people are only happy with offering their properties for sale via private treaty, this is when a purchaser negotiates directly with the vendor or their agent. However with the advent of internet shopping, consumers are becoming used to making major purchases online. The increased liquidity this brings to the market means that far more homeowners are now considering Auctions as a route to market.
Abode are happy to partner with auction specialists I-Am-Sold to offer auctions to our clients in Royston, Linton and the surrounding villages.
Through our partnership we can offer two types of Auctions, Traditional Auctions and Modern Method of Auctions. These have the following differences:
|TRADITIONAL METHOD||MODERN METHOD OF AUCTION|
|10% Deposit paid on agreement of sale||Non-refundable reservation fee of 4.2% inc.|
|28 days allowed for completion of contracts||56 days to exchange and complete|
|Immediate exchange of contracts||Open to traditional residential buyers and vendors|
|Auction (legal) pack required||Auction (legal) pack required|
|Transparency of bids||Transparency of bids|
|No Sales commission to pay for the vendor||No Sales fees to Pay|
Provides maximum security as the buyer is legally bound to buy and the vendor is legally bound to sell. Anyone can buy through auction
The real benefits to vendors in selling via auction is the speed, an average completion time of below 50 days, as well as security, buyers pay a non-refundable reservation fee, and sales have a 95% success rate.
Buyers benefit from transparency, they can see all bids for the property, receiving the legal information up front, allowing them to make a more informed purchase. Increased speed and security of the transaction, and the fear of being gazumped is greatly reduced.
For more information, click below or contact Spencer today at firstname.lastname@example.org.Take me to the auction!