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HOW DOES TRADITIONAL AUCTION METHOD WORK AND HOW CAN IT BENEFIT YOU?
NESBITS have been selling property of all descriptions (including garages, land, houses, flats, investments, commercial buildings) by Public Auction for over 70 years. Instructions are received from private individuals, landlords, executors, and solicitors, many involving repeat business.
What is a traditional public auction?
Very distinct from the recently introduced “modern method of auction” operated by some of our competitors, traditional Public Auction sees an immediate and binding settlement at the fall of the auctioneer’s hammer (or in our offices in the event of sale prior), the payment of a 10% non-returnable deposit, and completion just 4 weeks later.
Significantly, the costs to any buyer are a fraction of those applying to the “modern method” – a benefit to both parties, with purchasers making savings that are very likely to be reflected in their bidding.
Whilst conventional (Private Treaty) sale remains the best option for many owners (in the case of a typical private home, for example, ones in good condition and likely, in the current market, to attract ready interest), those involved with “speculative” or “problematic” properties will reap reward from taking the path of Public Auction.
Auction sale prices are demonstrated, at the very least, to match those of conventional sale, but in some cases to far exceed any reasonable expectation as a result of spirited bidding.
Perhaps as important, if not more so, is the ability of the Public Auction option to enable sellers to maintain TOTAL CONTROL over the entire process, thus bringing about final settlement weeks, if not months, earlier than would be possible otherwise.
Three of our success stories from February
- Burlington Road - Instructed 10th Feb. Exchange of contracts 3rd March.
Guide price £165,000 - £175,000. Sold for £231,000!
- Campbell Road - Instructed 10th Feb. Exchange of contracts 1st March.
Guide price £650,000. Sold for £655,000.
- Esslemont Road - Instructed 10th Feb. Exchange of contracts 4th March.
Guide price £175,000 - £185,000. Sold for £186,000.
Where’s the catch?
There is no hard sell, no empty promises, no fuss, just good, honest work by a team dedicated to getting the best price for you, our client.
Nesbits will fight your corner and aim to achieve the best possible price.
Are you ready to sell by Auction?
Speak to our team today and take advantage of the unrivalled experience Nesbits has in this area of property sales. Our team are on hand to answer your questions and arrange a valuation of your property.
Find further information by visiting our FAQ’s page on the website: https://www.nesbits.co.uk/pages/FAQs
Contact: Head of Residential Sales - Robin Evans 02392 864321 or email info@nesbits.co.uk
16/03/2022
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