According to MoveWise.co.uk, around 20,000 residential properties are sold via auction in the United Kingdom each year. When you have taken the plunge and decided to sell your house via auction, it can be incredibly disheartening if it does not sell.
Future potential buyers may find out that it failed to sell at auction, which could make the house off-putting to them. There is a chance they will suspect it has problems that they have not foreseen.
However, there are still plenty of methods of selling if this problem arises, you just need to make sure that you have considered alternative options should the auction not go as planned.
Post-auction sales
If a property fails to sell, after the auction, any interested parties are invited to make a post-auction offer. This means that all is not lost. You could still walk away with a good price for your property on the day of the auction, especially if there are a few buyers interested.
However, this could prove problematic for you as the seller, because those making an offer will likely use the fact it did not sell alongside your willingness to secure a deal to negotiate a lower offer. You are, of course, not obliged to take any offer that is below the price you are happy to accept.
Go to auction for a second time
Trying the auction again could be a positive next step should any post-auction offers fail to materialise. The property may have simply failed to sell the first time due to being priced incorrectly or it being ill prepared for your target market. Making some changes and ensuring the auction house is the right one might make all the difference.
Estate agent
Alternatively, if an auction fails you may consider a different route to selling.
You could always choose to sell via an estate agent. They are professionals in their field and can value and market your property.
However, there are things such as estate agent fees to consider if you choose this route.
Could I consider selling my property through Fast Cash 4 Houses?
Absolutely! Fast Cash 4 Houses can help you to sell your house quickly and safely.
We are the quickest and most convenient solution to selling your property. You could cut out the middleman and sell in days, with no estate agents costs or legal fees to pay.
Ethics and speed of completion are always of paramount importance to us. Our team has many years of experience evaluating and concluding purchases.
Do not hesitate to get in touch with us today for some personal advice and a no-obligation cash offer from our friendly team.
Contact the team on 01204 294 356 or email us at [email protected].
