We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Pro & Cons at selling house at auction
Options
CharlotteP_3
Posts: 43 Forumite
Am considering selling house at Auction via clive Emson.
I think basically it would cost me £500 to list it in the auction and then i could set the reserve at what i paid for it. If it doesnt sell thats all i have to pay but if it does its that plus 2%?
Know wont get the best price for it this way but it would be quick and as long as get what paid then thats fine, if not then its only a £500 gamble.
It has been on the market with a local estate agent for a month. Think their contract was for 3 months will we have to wait untill after this to sell via auction so dont have to pay them also?
I think basically it would cost me £500 to list it in the auction and then i could set the reserve at what i paid for it. If it doesnt sell thats all i have to pay but if it does its that plus 2%?
Know wont get the best price for it this way but it would be quick and as long as get what paid then thats fine, if not then its only a £500 gamble.
It has been on the market with a local estate agent for a month. Think their contract was for 3 months will we have to wait untill after this to sell via auction so dont have to pay them also?
Wins 09 £60 Arcadia Voucher, Brita Tap, Bonnie Baby Jumper , Sony Walkman Mobile, Tyrells Vinegar tasting set, champagne, kids books, dove ,
Wins 08 £50 fanta gadget, £10 Radox, £10 Virgin Voucher, Johnsons Pack, Makita strimmer, £500 Surfshop, F & M Hamper, £70 Toys R Us , Box of Burts , £100 Nivea Hamper
Wins 08 £50 fanta gadget, £10 Radox, £10 Virgin Voucher, Johnsons Pack, Makita strimmer, £500 Surfshop, F & M Hamper, £70 Toys R Us , Box of Burts , £100 Nivea Hamper
0
Comments
-
Depends on what you wnat for it I suppose if your after the kind of money an EA valued it at its not impossible but I dont think I would risk losing the 500
If you rhappy to let it go for les thna the EA valuation did you try marketing it at that ?0 -
It would be £20k under what it was valued at.
I wouldnt consider marketing it at that as someone would still put an offer in or lower the price after it was agreed also due to the uncertain time scale it could take months, rather than a guranteed 30 days.Wins 09 £60 Arcadia Voucher, Brita Tap, Bonnie Baby Jumper , Sony Walkman Mobile, Tyrells Vinegar tasting set, champagne, kids books, dove ,
Wins 08 £50 fanta gadget, £10 Radox, £10 Virgin Voucher, Johnsons Pack, Makita strimmer, £500 Surfshop, F & M Hamper, £70 Toys R Us , Box of Burts , £100 Nivea Hamper0 -
CharlotteP wrote: »It would be £20k under what it was valued at.
I wouldnt consider marketing it at that as someone would still put an offer in or lower the price after it was agreed also due to the uncertain time scale it could take months, rather than a guranteed 30 days.
On the whole, if the £20k makes it look like a bargain, you would expect to get a lot of interest, with several buyers even in this market. No reason then to accept less than the asking price.
Quite likely, if the £20k does not make it a genuine bargain, it won't reach your reserve at auction.No reliance should be placed on the above! Absolutely none, do you hear?0 -
CharlotteP wrote: »Am considering selling house at Auction
I posted this some time ago to someone asking about selling at auction: -
As an EA I feel auctions are for two scenarios.
1) 'Got to sell' regardless of the price you wil get and often the prices can be shockingly low. Like a car boot sale????
2) Or the property is unique, hard to value and you know there is definitely more than one party out there. In this situation sellers can often get far more than they were thinking.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
hmm interesting, thanks for comments.
It is unique in that it back onto a river (not on floodplain) in a very pretty village was built in 1850 and is listed. So not something that comes around every day! So we maybe lucky.
Had lots of viewing but nothing has emerged yet although 3 people have said will put an offer in (but havent)
Perhaps we should wait a bit . Not 100% sure what would happen with estate agents as its only been on a month and wouldnt want to pay their fees ontop f auction.Wins 09 £60 Arcadia Voucher, Brita Tap, Bonnie Baby Jumper , Sony Walkman Mobile, Tyrells Vinegar tasting set, champagne, kids books, dove ,
Wins 08 £50 fanta gadget, £10 Radox, £10 Virgin Voucher, Johnsons Pack, Makita strimmer, £500 Surfshop, F & M Hamper, £70 Toys R Us , Box of Burts , £100 Nivea Hamper0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards