Instant cash sale house

eddddy

FWIW, and auction sale might not be much quicker than a sale through an estate agent. It might even be slower.

Auctions are more for 'difficult to sell' properties, than for speed.

An auction timeline might look like this:

• Instruct a solicitor to prepare a legal pack. It might take between 2 weeks and 8 weeks to get the searches.

• Instruct an Auction House

• Once the legal pack is ready, Auction Entries close typically close 2 weeks before the auction date - so enter into next auction after a minimum of 2 weeks

• Assuming the property sells on the auction day - it's then 4 weeks to completion

So if searches come back in 2 weeks, and you are super-lucky with the date of the next auction - the whole process could take 8 weeks.

But if searches take up to 8 weeks, and you are unlucky with auction dates - the whole process could take 12 to 20 weeks.


Plus with an auction, realistically you're shutting out anyone who needs a mortgage. So assuming your house is mortgageable, you're excluding a huge number of potential buyers.

GDB2222

One advantage of auctions is certainty, as the contract is made on the day of the auction. So, you don’t have the chance of a buyer stringing you along for months, then pulling out. 

eddddy

GDB2222 said:

One advantage of auctions is certainty, as the contract is made on the day of the auction. So, you don’t have the chance of a buyer stringing you along for months, then pulling out. 

But there's no certainty until the hammer falls. So you could spend 4 to 10 weeks getting your ducks in a row for the auction - and then it doesn't reach it's reserve.

So then it's another 2 months (or more) until the next auction - maybe with a lower reserve.

ReadySteadyPop

A lot of these companies have a database of "investors", but I believe there are a lot less potential investors interested in property than there used to be.

MeteredOut

ReadySteadyPop said:

A lot of these companies have a database of "investors", but I believe there are a lot less potential investors interested in property than there used to be.

Is your belief based on any underlying data, or purely hope?

ReadySteadyPop

MeteredOut said:

ReadySteadyPop said:

A lot of these companies have a database of "investors", but I believe there are a lot less potential investors interested in property than there used to be.

Is your belief based on any underlying data, or purely hope?

It is based on the number of For Sale/To Rent signs I see hanging around, data can be manipulated depending on the vested interest of the publisher. If "investors" were actively out looking and making offers half of these "quick sale" companies wouldn`t exist.

MeteredOut

ReadySteadyPop said:

MeteredOut said:

ReadySteadyPop said:

A lot of these companies have a database of "investors", but I believe there are a lot less potential investors interested in property than there used to be.

Is your belief based on any underlying data, or purely hope?

It is based on the number of For Sale/To Rent signs I see hanging around, data can be manipulated depending on the vested interest of the publisher. If "investors" were actively out looking and making offers half of these "quick sale" companies wouldn`t exist.

So, purely anecdotal. Thanks,

ReadySteadyPop

MeteredOut said:

ReadySteadyPop said:

MeteredOut said:

ReadySteadyPop said:

A lot of these companies have a database of "investors", but I believe there are a lot less potential investors interested in property than there used to be.

Is your belief based on any underlying data, or purely hope?

It is based on the number of For Sale/To Rent signs I see hanging around, data can be manipulated depending on the vested interest of the publisher. If "investors" were actively out looking and making offers half of these "quick sale" companies wouldn`t exist.

So, purely anecdotal. Thanks,

Are you trying to sell some property to investors at the moment?

MeteredOut

ReadySteadyPop said:

MeteredOut said:

ReadySteadyPop said:

MeteredOut said:

ReadySteadyPop said:

A lot of these companies have a database of "investors", but I believe there are a lot less potential investors interested in property than there used to be.

Is your belief based on any underlying data, or purely hope?

It is based on the number of For Sale/To Rent signs I see hanging around, data can be manipulated depending on the vested interest of the publisher. If "investors" were actively out looking and making offers half of these "quick sale" companies wouldn`t exist.

So, purely anecdotal. Thanks,

Are you trying to sell some property to investors at the moment?

If I do, does that make your statement not anecdotal?

If I don't, does that make your statement not anecdotal?