When it comes to selling a home, many homeowners opt for traditional methods such as listing with an Estate Agent or marketing it through online Estate Agent platforms. However, there is another effective and increasingly popular way to sell a property: selling it at auction. In this blog, we'll explore the advantages of selling your home at auction and how Pattison Lane can help you sell your home through Auction.
Auction might not suit every circumstance, but there are some great benefits and with iamsold working in partnership with Pattison Lane, selling your property at auction has never been easier.
Private Treaty can take 100+ days to complete whereas auction provides fixed exchange timescales of 28 or 56 days from receipt of draft contract.* This means you can plan your move more easily.
An attractive Starting Bid drives interest and with all parties having visibility of all offers, it encourages competitive bidding, which can help to drive up the final selling price of your property.
With auction, buyers pay a non-refundable Reservation Fee or deposit to secure the property so all parties can move forward with confidence. A Reservation Agreement is also signed by the buyer, committing them to complete the purchase. This means the risk of fall-through with auction is less than 5%, unlike Private Treaty which has an average fall-through rate of 30%.
NO SALE, NO FEE
Nothing to pay if your property doesn’t sell. You only pay an Auction Pack Fee on completion.
So how can Pattison Lane help sell your home at Auction?
Our Modern Method of Sale is an auction services providing an alternative to Private Treaty transactions which can take 100+ days to complete with a 1/3 chance of the sale falling through.
We work in partnership with iamsold; the UK's No.1 Residential Property Auction Provider, to offer you a wider choice of buying and selling options to suit your circumstances. For those customers looking for speed and security, auction can offer an attractive alternative to Private Treaty, with many other additional benefits. To find out more click here.
Selling a home at auction can be a strategic and lucrative choice for sellers who want a quick sale, competitive bidding, and a fair market value for their property. The auction process allows for greater control, reduces holding costs, and attracts motivated buyers, making it a compelling option in certain real estate markets. However, like any selling method, it's essential to conduct thorough research and partner with a reputable auctioneer to ensure a successful and seamless auction experience.
*based on standard property types.