Are you looking to sell a property quickly? Online auction could be the answer
PUBLISHED: 12:30 04 May 2018 | UPDATED: 11:36 07 July 2020
Do you need to sell a house quickly but still want to achieve the best price? Nick Eley, partner at Watsons estate agents, discusses the new service of online auction.
Perhaps you’ve inherited a house requiring some improvement or you simply need to sell a house quickly to relinquish funds or you have legal obligations to demonstrate you have achieved best price?
Perhaps the property may be very unusual or considerable competition is expected.
It might be an ‘ugly duckling’ or it might have that ‘chocolate box’ appeal.
Either way, auction could be the most practical route.
So how are you going to achieve the best price in the quickest possible time frame?
Nick Eley, partner at Watsons, has the answer; sell by online auction.
Watsons is now offering a new online auction service, as well as selling properties by the traditional method of private treaty.
With an online auction, your house will be sold to the highest bidder without anyone leaving the comfort of their own home and completion is guaranteed within one to two months.
And what’s the best benefit? You don’t pay any estate agent fees but can enter your home into the online auction free of charge. Also, it doesn’t cost you anything when it sells, other than legal fees.
Mr Eley, who has 40 years’ experience in property, said: “This is all about selecting a professional estate agency practice like Watsons, offering a range of services with the knowledge and experience to determine and offer quality advice on the best method of sale.
“You can sell by private treaty; ie for a ‘fixed’ price, a ‘guide’ price, ‘offers in excess’ of a figure, by ‘informal’ or ‘formal tender’ – or by auction.
“A property doesn’t have to be ugly to be auctioned – it could just be you need to sell it quickly, sometimes the case during or following a divorce, or you need to turn an asset into cash in a certain time frame. If you do – it’s really worth considering selling it with Watsons through our online auction service.
“The online auction also works for those properties that for one reason or another just don’t seem to sell – an example was a property which came on our books positioned above a shop and the sale, for a variety of reasons, fell through three times.
“By putting it up for online auction with a guide price of £135,000, the property sold for £152,600. The seller hadn’t paid any fees, so saved herself money in the process and achieved a quicker and easy sale.”
So, why sell through Watsons’ online auction service?
No sale, no fee – there is nothing to pay to enter your home into an online auction and nothing to pay whether the property sells or not other than legal fees.
Undisclosed reserve price – this ensures a value is reached that you are happy to sell the property for.
A committed buyer – they pay a non-refundable reservation fee, meaning they are committed to the sale.
Speed – depending which online auction method you choose, the process can take either two months to exchange and complete or immediate exchange and 28 days to complete.
Greater levels of interest – exposure from the 24/7 online website.
Achieve market value – due to increased activity, you may see competitive bidding for your property, driving up the final selling price.
Fixed date to sell and move – realistic yet fixed timescales are set from the start of the process.
Online auction is the latest service offered by Watsons which sells properties across all price ranges, with its Period & Prestige arm of the business selling high-end homes and regular sales across the county via six branches in Norwich, Holt, Cromer, Sheringham, Aylsham and North Walsham.
Watsons’ latest property soon to be released into its online auction will be a two bedroom detached bungalow in Dereham requiring modernisation; a ‘blank canvas’ for someone to stamp their mark on and for sale for a guide price of £120,000.
For more information on selling your home through Watsons’ online auction service or for advice on which method of sale is best suited to you, contact Nick Eley on 01603 619916 or email him at email@example.com
You can visit the online auction platform: https;//watsons-property.iamsold.co.uk for for more information, email firstname.lastname@example.org
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