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About Property for Sale by Auction

The process of selling property by auction has been successful for generations.  However, the majority of the general public do not attend auctions as they can be intimidated by the pressures of the auctioneer who's roll it is to generate an excitement which encourages people to make spontaneous decisions to raise their bids.

For this reason property auctions have become known as places frequented only by hardened investors, builders, developers etc. all looking to make profit from what you the owner may have lost.  This results in properties being given away for prices which are generally unnacceptable to the owner.

Property for sale by auction has relaxed the auction process in a way which makes the auction accessible to everybody, giving buyers time to view properties, conduct any due diligence and make their bid within a 30 day auction period, not a few minutes.

Our auctions are closed bid auctions meaning that nobody is aware of each other,s bids.  Bids are made on the basis of what somebody is prepared to pay, not as little as they can get away with.  This does not rule out the hardened investors, but does not give them an exclusive opportunity to steal a property at an unrealistically low price.  If however, there is a lack of interest in a property and the owner is keen to get sold at the best offer available, it may still be the case that this type of investor can be successful.

When an owner puts a property with an estate agent, if the owner is prepared to offer a lower price, he is ensuring that he can only achieve that low price, the estate agent is not going to try to achieve a higher price for the owner.  With our auctions, if the owner is prepared to accept a low price, this will become a confidential reserve price which is likely to be surpassed with higher offers from potential buyers who have viewed the property and realise that they may lose the opportunity to buy the property unless they make a respecable bid.

As a result, when people see a bid range, their initial thoughts are that they might be able to buy a property for the lowest figure.  However, once they have viewed the property, if they like it and want the property they will be encouraged to make a higher bid, and as they will not be aware of other bids they will have to make higher bids.

The price bid range is what attracts potential buyers in the first place, i.e. the low prices, but the reality is that people decide they want a particular property and will make higher bids, often higher that the reserve price.

Where bids fall short of reserve prices, at least there is the opportunity of negotiating a deal at the end of the auction period.

If you have any questions regarding our auction process, please do not hesitate to contact us at the following email address.

CONTACT DETAILS
www. Propertyforsalebyauction.com

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