Selling by Modern Auction
In an effort to provide the very best service we can, Sandersons UK has always embraced new technologies we feel will bring added value to our customers. We are, therefore, thrilled to be able to announce the launch of our modern auction department.
In the past auctions have been a good disposal method for lower value and run-down properties. However, with the explosion of internet usage and people’s familiarity with platforms such as eBay, this is no longer the case. Online auctions provide both buyer and seller with unlimited access to the process giving a sense of control and transparency.
Selling by auction as considerable advantages for the motivated vendor:
- There are greatly reduced costs involved
- You set the reserve price so maintain control over the minimum price
- All buyers enter into a contract before they can place a bid. So you know that your successful buyer is contracted to complete the sale this giving you peace of mind. The agony of a buyer pulling out a day before exchange is greatly reduced.
- There is an exact timeframe – the auction runs for a set period (usually 1 month) and the buyer then is contracted to complete the sale within 28 days
- Because the buyer feels more in control of the process, where there is high demand for a property, the final sale price is often higher than conventional methods necessarily generate.