Selling at auction

jay9011

Hi, I'm looking at options to sell my house. It's in great condition and it's only 12 years old. 
Is the auction route worth considering and what would be the fees involved? 

Thanks for any help. 

user1977

Auctions are generally for properties which are difficult to sell in the conventional way, and their procedures tend to rule out anybody who needs a mortgage - why are you considering an auction if there's nothing wrong with the property?

dimbo61

So with the current crazy housing market in many parts of the country and the fact your home is only 12 years old so likely to be EPC band B, C or at worst D Why would you sell at Auction ?
Lots of Online Estate agents and some very good local High street estate agents with lists of people looking to buy. 
Never really been a better time to sell and get the best price or even offers over.
If the property is in excellent condition with No issues ( subsidence) or major structural defects,  Leasehold with doubling ground rent every 10 years. 
Many homes selling within 2 weeks !

plumberpaig

I wouldn't go the property auction route if there isn't anything difficult about selling your property.

If it's straightforward and you definitely know what it's worth then no harm going with a no fee agent like https://strike.co.uk/.

Check them out and see what they do. I personally like them and have used them a few times now.

jay9011

user1977 said:

Auctions are generally for properties which are difficult to sell in the conventional way, and their procedures tend to rule out anybody who needs a mortgage - why are you considering an auction if there's nothing wrong with the property?

My neighbour's property is my concern. His garden hasn't been touched in almost three years and there are beer cans lying around etc.. I'm sure it's going to impact any chance of a sale. 

eddddy

jay9011 said:

My neighbour's property is my concern. His garden hasn't been touched in almost three years and there are beer cans lying around etc.. I'm sure it's going to impact any chance of a sale. 

Discuss it with a few estate agents.

A good estate agent will have ways of approaching problems like this.

For example, when somebody asks to view they say...

"There's a bit of a problem with the neighbour's garden, it's unkept and full of beer cans etc. So the property has been priced a bit lower than other similar properties to reflect this. And maybe you'd want to put up a tall fence to hide the neighbour's garden. So it's an opportunity to get  a bit of a bargain." etc, etc


Tbh, a good estate agent might even make the problem sound slightly worse than it really is, so that viewers are pleasantly surprised that it's not as bad as they expected.

And you'll probably still do better than selling at auction.

user1977

Agree with above - it'll probably put off some buyers, but that's not really a reason to take the massive hit in the price which is likely from an auction sale.

FreeBear

If you go the auction route, don't get suckered in to using the Modern Method of Auction - It doesn't benefit you, will put a vast majority of potential buyers off, and it is only the EA/Auction house benefiting.

A traditional auction should have a fairly quick turn round, but you are unlikely to get full value. It may also make potential buyers wonder if there is a serious problem (structural defect, subsidence, etc).

jay9011

eddddy said:

jay9011 said:

My neighbour's property is my concern. His garden hasn't been touched in almost three years and there are beer cans lying around etc.. I'm sure it's going to impact any chance of a sale. 

Discuss it with a few estate agents.

A good estate agent will have ways of approaching problems like this.

For example, when somebody asks to view they say...

"There's a bit of a problem with the neighbour's garden, it's unkept and full of beer cans etc. So the property has been priced a bit lower than other similar properties to reflect this. And maybe you'd want to put up a tall fence to hide the neighbour's garden. So it's an opportunity to get  a bit of a bargain." etc, etc


Tbh, a good estate agent might even make the problem sound slightly worse than it really is, so that viewers are pleasantly surprised that it's not as bad as they expected.

And you'll probably still do better than selling at auction.

Thanks, you've given me a bit of hope. I'll get it valued and take it from there. 

Slithery

Have you tried offering to tidy the neighbours garden?

jay9011

Slithery said:

Have you tried offering to tidy the neighbours garden?

It's something I've considered many times. His very wealthy parents actually own the property. I did politely approach them regarding his behavior, but they weren't interested. He then tormented us with loud music for months on end as revenge.  
It's a very difficult one to tackle.