Pros and cons of going to auction.....

Jackmydad

As said above, if it's not selling, it's overpriced.
Estate agents can say it's worth what they like. Their guess is as good as anyone else's really.
And part of the problem is that if an estate agent gives a price range, the seller will automatically "hear" the higher price.
Anything, houses included, is only worth what someone is willing to pay for it.
Again as already said. Auctions are a lottery. We bought one of our houses at auction. It was an absolute bargain!

Cheeky_Monkey

Kidder81 wrote: »

In answer to your thread title, the pro is a quick, guaranteed sale. The con is that the sale price is generally lower than you would get on the open market.

As others have said, if she's desperate to sell and willing to likely get less money then its a good idea. If not then its a terrible idea and she'd be better off considering changing agents and reviewing the whole package, including the asking price!

That's not necessarily the case. Not all of the properties that go to auction are sold.

Kidder81

Fair point. I was assuming it would attract bids but you're quite right, it may not!

Thrugelmir

Kidder81 wrote: »

Fair point. I was assuming it would attract bids but you're quite right, it may not!

There'll be a reserve set.