Are you looking to get rid of a problem property, or something that just won’t sell no matter what? Well, then, never fear! Property auctions are simple and easy in the UK, and can lead you to selling your problem property faster than you’d ever imagine. Don’t get stuck with useless renovations, heedless repairs, or costly maintenance on a property you don’t need and you don’t want– instead, just auction it to ensure that you’re able to get rid of it.
The Perks of Auctioning Property
Auctioning property in the UK is easier than ever. When you go to auction property, you’re guaranteed to sell your home, even if it has some glaring problems. There is always someone at an auction looking for that great sale– and that means that someone is going to purchase your home! Furthermore, selling at auction guarantees that you get to sell your home in as-is condition, with no repairs or renovations necessary! Repairs and renovations can be frustratingly costly, which means that you don’t want to have to deal with them. In a house that you can never reap the rewards of repairing, why would you go to the effort? Instead, selling your home at auction can ensure that you can get rid of it in as-is condition with no costly repairs or renovations. Selling your home at auction in as-is condition is a great way to ensure that it doesn’t suck any more hard-earned money out of your pay cheque, and allows you to get rid of a home that you can never truly fix.
The Downsides of Auctioning Property
Be warned before you sell your home at auction, though, that downsides do exist when you sell your property. Selling at auction can be a costly and complicated affair, and take a lot out of inexperienced homeowners. Did you know that it costs to list your home at auction? It’s true! Listing your home at auction can cost hundreds of pounds, which is both more and less than you might be paying for repairs already. Even worse, you might not even make a hundred pounds on your house at auctions. Auctions sell for notoriously low prices, and that means that your home might be a victim. You don’t even have very much control over your home sale, which means that as soon as that hammer falls, you can’t argue with the price or the closing costs. Instead, you just have to transfer the deed and move on with your life. There’s no opportunity for negotiation when you sell your home at auction, and you can’t ask for a better rate. You just have to sell your home and move on to the next one– which can be more than some homeowners can bear.
Should You Sell At Auction?
If you’re not sure you want to sell your home at auction, there are plenty of alternative ways to do it. Selling with a cash buyer also guarantees you a sale, just like an auction, but a cash buyer will give you market price for your home even in as-is condition. If you sell with a realtor, you’ll have to pay for repairs and renovations, but you’ll earn more money from your sale than you would with a cash buyer. If you’re behind on your mortgage, you can talk to your bank about selling at a short sale, which would only be a percentage of your mortgage. In a short sale, you use all the profits of your sale to pay back what you can of the mortgage, but you don’t make any profits yourself from the selling of your home. It’s overall just a way to get rid of an overbearing mortgage. Any of these four ways are feasible and well-used ways to sell your home that don’t involve the downsides of auctions- but at the end of the day, it’s really up to you to choose what’s best for your home.
Getting Rid of Your Problem Property
If you’re looking to get rid of a property that seems like it just won’t sell, auctioning might be the right way to go! When you sell your home at auction, you get to sell in as-is condition, and you’re guaranteed to sell. However, you’ll also earn fewer profits on your sale and have no control over how the sale proceeds. These detractors might become dealbreakers for you, so there are many alternative options to selling your home at auction. Selling at auction isn’t for everyone, and that’s okay. It might be the best way for your house, though, so look into selling at auction today.