Derby Conveyancing Solicitors

Contact us by e-mailing gary.dickie@btinternet.com or ring us on 01332 518135.

Check out our ridiculously low prices for Derby conveyancing.

Selling Houses at Auction

Not the best way to sell your average property because you are unlikely to achieve the highest price. Useful for unusual properties, which are likely to sell for more than if sellers just deal with buyers on a “one to one” basis. Note: If the property sells you have to move out 28 days after the hammer has fallen.

Why do it:

1.If it is a rental property with sitting tenants
2.If It is unique and likely to be in great demand
3.If it is difficult to value using traditional valuation methods e.g grand designs style bespoke house or idiosyncratic conversion

Disadvantages:

1. It is expensive – the commission for selling at auction is around 2.5% + VAT of your properties value.
2.    If you do not achieve your reserve price you will still have to pay £1,200 – £1,400 +VAT to cover the auctioneer’s fees which include:
(i)The Surveyors inspection of your property
(ii)The Sale Board General advertising and marketing costs
(iii)Your listing in the auction catalogue
(iv)Drafting the legal documentation
(v)The handling of the “pre-auction” enquiries

Contact us by e-mailing gary.dickie@btinternet.com or ring us on 01332 518135.