Top queries to ask an auctioneer before selling your property in Catford
You might be thinking about using an auctioneer to sell your Catford home, because there’s the potential to make a decent profit if many people want to buy the property and keep trying to outbid each other by offering ever-increasing prices for the house or flat. If your property receives a bid at the reserve minimum value then it is deemed to be legally sold.
But the process can take at least a couple of months, including a wait between the day on which you list your home for sale and when the auction takes place. If your house or flat sells, there’s also a wait of an average 28 days for the buyer to complete the process of purchasing it.
Should you be thinking about using an auctioneer to sell your home, consider calling or emailing different companies and asking them some of the questions below. The responses that you receive will help you to determine whether this method of selling is the right one for you.
Auctioneers charge commission for the work that they do in selling your home. By asking this question of many companies you could be able to identify an auction house with lower fees than its competitors, which can be vitally important if a higher commission would cut into your overall sale profit significantly.
If you have a non-standard home, such as a dilapidated property, asking this question will help you discover the odds that an auctioneer can successfully find a buyer for it. Some auction houses might have never sold your type of home, and so they may not understand how to attract any bids for it — and if you receive no bids, your property will be considered unsold.
Another important question that will give you insight into how a particular property auctioneer operates. Whatever the company says in response should let you know how serious they will work to advertise your home and generate interest from buyers. An auctioneer who can’t identify a solid plan for marketing your house or flat is likely a company that you shouldn’t use.