What are the pros and cons of selling my home at auction?
You have several options when deciding to sell your home, including at auction. The process is fairly straightforward because the auctioneer will handle most of the work, but there are several crucial pros and cons that you need to know before deciding whether to proceed with auction.
Selling your home at auction: three frequently asked questions
When homeowners are trying to decide between selling their property at auction or an alternative approach, these are three of their most frequently asked questions:
✅ Will I have to pay fees to sell my home at auction?
Yes. Auctioneers will charge you fees for taking care of the time-consuming and sometimes stressful work involved in listing, marketing and selling the property. Be aware of these fees and understand that you will have to subtract the total amount of fees from whatever final sale price your home achieves at auction.
✅ Am I guaranteed to make more than the minimum bid price at auction?
No. Selling your house or flat at auction has its uncertainties because there is no guarantee or requirement that anyone will bid above the minimum sale bid price. This can be a problem if you need to make more than the opening bid offer that your auctioneer recommended, and that’s why auctioning cannot provide any financial certainty.
✅ If I don't want to sell my house at auction, what are the alternatives?
There are two main alternatives to selling at auction, with the first being taking a cash offer from a reputable property buying company such as LDN Properties. The second alternative is to work with an estate agent who will list and market your home and arrange viewings for it, but you will have to pay estate agency fees often based on the final sale price.
Call LDN Properties for an alternative to selling your home at auction
If you decide against auctioning your home, we can make you a fast and generous offer to buy your house or flat through a simple, stress-free and zero-fee process.
Call our friendly team of experts at 020 7183 3022 or click the "Request Offer" button below to learn more about receiving a free no-obligation quote for selling your home.
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