, The decline of a stigma – selling residential property by auction

The decline of a stigma – selling residential property by auction

We can be fairly traditional beings with preconceived notions regarding many facets of life. Selling a property at auction is one of these.

Many myths abound regarding property auctions which are generally believed, yet as a company we have seen an enormous rise in the popularity of residential properties selling at auction.

The belief that a property is sold at auction only if it is distressed is no longer the case. Our clients are now driven by the need for convenience and time saving, which is supplied by means of property auctions. Selling through an estate agent can involve very lengthy and complicated chains. On average, in the UK, 35 per cent of sales fall through, causing enormous stress and financial cost to both vendor and purchaser.

Selling at auction gives our cli- ents peace of mind. With the fall of the gabble, exchange of contracts is immediate with completion generally 28 days thereafter.

The vendor is protected by the reserve price which is agreed prior to the sale and spared frequent, unscheduled requests to show the property. Further, the seller does not have to be involved in any negotiation process, which can be a time-consuming exercise.

Another important point to consider is that potential buyers are required to pre-qualify for financing, thus eliminating the wait involved when a purchaser applies for nancing a er making an o er and is ultimately unable to conclude the transaction if his application for financing is refused. A pertinent point that should be noted is the fact that the purchase price may exceed the seller’s expectations, as compe- tition among the buyers promotes higher bidding.

For further details about potentially selling or buying with Town and Country Property Auctions, please contact Robert Jenkins 01293 528 575 or info@townandcountryauctions.co.uk

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Mini break terms & conditions

The winner of the competition will receive a TUI gift card to be redeemed in store or online, to the sum of £500 OR £500 toward the mini break of your choice.

The gift card will expire 30th September 2021

No Town & Country member of staff, their family or friends may enter.

You must have registered your details and then turn up at our next property Auction; 29th April 2019. The Holiday Inn, Povey Cross Road, Gatwick for a valid entry. (No obligation to buy)

This voucher comes with TUI’s terms and conditions, once redeemed, which can be found at https://www.thomascook.com/terms-and-conditions/booking-terms-and-conditions/

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