Auctions are a method of sale that nets the best results when buyer competition is high.
Here are five reasons why selling at auction might be perfect for your property.
At Auction, buyers know that if they don’t bid now, they will miss out. The atmosphere is electric, the auctioneers calls are exciting and buyers often find themselves in competition. This is the perfect environment in which to sell your home, with buyers excited about your property and eager to purchase on the spot.
On the day, your auction will attract a number of buyers. The environment is exciting and fun for buyers and even better for you, the seller.
High buyer competition tends to push prices up. Whether it’s an all out 6-buyer bidding war or an intense one-on-one, the result is the same.
The cooling off period lasts for five business days, during which buyers have the chance to assess their decision and pull out of the sale. This can be frustrating for sellers who find their property is suddenly not going to be sold due to buyers remorse or some minor problem.
At Auction there is no cooling off period and buyers do their due diligence before the sale. Once that hammer comes down your property is guaranteed to be sold.
As buyers must complete their own investigations and do their own due diligence prior to the Auction, only serious buyers will be involved in the bidding as a signed contract and 10% deposit is required immediately after the auction has concluded.
Every month, together with the sister offices of Ray White Thompson Partners in Gorokan and Budgewoi, the team at Ray White The Entrance conduct an in-room Auction Event.
Here, buyers flock for a chance to snap up multiple properties auctioned on the day. Benefit from the competitive environment with up to a few hundred buyers present at the one time and register your property for this months Auction Event.