Why should I sell my house by property auction?
As property auction specialists, we have so many people asking why they should sell their house by the modern method of auction.
Coppenwall have listed the top reasons why you should consider this option.
We don’t charge any fees
Lots of property auctions services charge you a listing fee for marketing your property, they can charge your potential purchasers to enter the auction, and then charge you a selling fee.
This has proved to be quite costly to sellers over the years. Our modern method of auction is changing how people think about selling their home.
- We don’t charge you to market your property
- We don’t charge your potential buyers to enter the auction and bid
- We don’t charge you anything to sell your home
This sounds too good to be true! It isn’t. We do not charge you any commission to sell your property via auction, and you keep all of the money raised from selling your property.
How are we able to do this? We pass all the costs onto your buyer in the form of a non-refundable reservation fee.
Secure your property auction sale
Once a bid has been accepted, we charge your buyer a non-refundable reservation fee. This maximises the chances of your property completing without a fuss. People are not going to pay a non-refundable fee if they are unsure about buying your property.
Paying a non-refundable fee also gives your buyer peace of mind, as they know they’ll not be outbid by somebody else at the last minute.
Sell your property quickly
Most people assume that properties can only be bought at auction using cash funds. This is not true.
48% of buyers last year were genuine home-buyers, and because of our extended sales timeline, this has opened the door for people to buy with a mortgage.
We ask for an exchange of contracts within 28 days, and completion within 56 days.
Instead of taking an unknown period of time to complete, you can be secure in the fact that you will have sold and completed within 56 days, so you can start planning your onward move.
Earn more money from your property at auction
Lots of people who come to the market via a traditional estate agency route tend to put a higher figure on their property in an effort to achieve more than market value. This rarely works, and if the price is set too high, it can actually reduce the amount of interest and viewings you receive.
Coppenwall property auctions works opposite to the usual marketing strategy. You set a reserve price, and we then market at 10% under the reserve price. The reserve price is kept strictly confidential between yourselves and Coppenwall estate agents.
As you are listing under the market value, you maximise the amount of interest, viewings and offers. We regularly see multiple bidders fighting over a property, and buying at or above market value.
A property sold at auction statistically gets more money for the owner, than it would have done via a traditional estate agency route.
Please bare in mind, you are not under any pressure to accept any offers under the reserve price, and Coppenwall will always negotiate the very best price for your property.
Online property auctions
As soon as your property is listed for sale via one of our property auctions, buyers can start bidding online, similar to eBay. This means that an offer will be accepted before you make it to the auction room. We are legally obliged to put forward any offers you receive, and you the seller will decide how to proceed. We’ll give you advice along the way.
Property Auction Buyers
We have access to a large database of investors and potential buyers, who are kept up to date with all new auction properties. All buyers are financially checked before they are able to bid, so you know your potential buyer is motivated and able to move quickly.
Whatever your reason for selling, contact Coppenwall Auction Specialists today to get your free auction appraisal.
Want to know more about Coppenwall? Read more about Coppenwall estate agents