Sell by auction is a major UK property auctioneer with auction rooms covering every area of England and Wales.
Our South-East auctions mainly deal with higher value residential property in need of modernisation and refurbishment. We value houses, bungalows and apartments across Maidstone, Canterbury, Ashford, Folkestone, Brighton, Crawley.
There are two common reasons for selling by auction. Death in the family, probate and inheritance. Retirement, downsizing to a smaller home, to release equity or moving abroad.
There are several advantages to offering a property through auction. The open market, private treaty, through estate agents, offers no guarantee of a sale within an unknown time frame. Sale by auction delivers certainty in a fixed period.
Catalogues open for entries four weeks before the sale and close for entries two weeks before the auction. Marketing and viewings take place during this time. The property sells on auction day with a legally binding exchange of contracts with fixed completion.
The standard time to complete is 28 days. Some clients depending on their needs can complete the sale earlier or later, anything from 10 to 60 days is acceptable.
A flexible moving date is very useful to homeowners who are selling their home. It provides flexibility to change the moving date thus allowing extra time to pack and move out. Or bring forward an earlier completion if the sellers have already moved out or if the property is vacant as would be the case following an inheritance.
Keeping hold of vacant property is fraught with unnecessary risk and costs. Break in, damage, vandalism, squatters, copper theft, damp and vermin.
There are the financial costs of holding empty property. Council tax, insurance, utility bills. Heating, light and ventilation are essential safeguards against damp, break in and may be an insurance requirement. Most Home insurance policies only cover unoccupied property for 30 days and require weekly inspections.
If you own an empty house, make sure you sell it and release the equity or rent it out as quickly as possible.
Renting a property is complicated and requires careful tax planning. Although and in fact, a rental property with sitting tenants sold as an income producing investment can secure a higher price at auction from investment buyers than a vacant property sold to builders.
Getting proper selling advice from experienced valuers and auctioneers should be your priority, get your free valuation here.