Looking to Sell Your House via Auction?

If you are looking to sell your property quickly, using a cash buying company offers numerous advantages over selling at auction. While auctions have their merits, a cash buying company can provide a faster, more certain, and hassle-free solution.

One of the primary benefits of using a cash buying company is the speed of the sale. Unlike auctions, which can take several weeks from listing to completion, a cash buyer can finalise the purchase in as little as 7-14 days. This rapid turnaround is ideal if you need to move quickly or want to avoid the prolonged stress of waiting for a sale.

Certainty is another key advantage. Auctions come with the risk of your property not reaching the reserve price or failing to attract bids. In contrast, a cash buying company guarantees a sale at a pre-agreed price, eliminating the uncertainty and providing peace of mind that your property will be sold.

Selling through a cash buying company also ensures a straightforward and transparent process. There are no hidden fees or complex negotiations. The offer you receive is the amount you will get, without the need to worry about last-minute reductions or buyer withdrawals.

Additionally, a cash sale avoids the complications of a property chain. In traditional sales or auctions, the deal can collapse if another transaction in the chain falls through. With a cash buying company, there is no chain, significantly reducing the risk of the sale falling apart and ensuring a smooth transaction.

Furthermore, cash buying companies often purchase properties in any condition, saving you the time and expense of repairs or renovations that might be necessary for an auction sale. This convenience allows you to sell your property as-is, without the added stress of preparing it for auction.

In summary, if you are seeking a quick, certain, and hassle-free sale, opting for a cash buying company is a more appealing choice than an auction. With a guaranteed sale price, faster completion, and a simple process free from the uncertainties of chains and market fluctuations, cash buying companies provide a superior solution for selling your property swiftly.

House auction can also be one of the most expensive ways to sell a home in general. There are no hidden costs, but an auctioneers commission currently stands at around 2% – 2.5%+VAT of the home’s value, and if your home does not sell at the auction you will still have to cover the auctioneers costs.

Another disadvantage voiced by many house sellers who have sold properties via auction is that auctioning home results in a greater invasion of privacy than other methods. With a traditional house sale, you can arrange and moderate home viewings in general.

With auctions, viewings open to the public are common, and you are obliged to allow any potential bidders to view your home, as well as any private surveyors working for the bidders. Get in touch for more information about auctions.

Property auctions have an element of instability in that any property may entice a bidding war thus resulting in it auctioning off at well over market value. Inversely a home may garner little interest, resulting in it selling for well under market value, sometimes as much as 40% below.