When it comes to selling your home you may be wondering whether selling the property at auction is the best choice. Here are six reasons why an auction can be the best option for you.
- Sets a Specific Date
Choosing to sell your home via auction allows for you to have a set date as to when the property will be sold. If you put your home on the market you have no certainty as to when it will be purchased, and you never really know when enquiries will turn into a sale. Auction creates a specific date where you can anticipate the property will be purchased.
- Attracts More Buyers
An auction can attract more potential buyers as it can create more buzz around the open inspection and more people registering to bid at auction. An auction is a fairly safe environment for a potential buyer as they have the comfort of being able to remain a bystander if they wish or alternatively they could get caught up in the competition and make bids on the property.
- Builds Competition
The excitement of the auction creates competition amongst potential buyers. This competition can see potential purchasers bidding higher than they may have planned as the desire for the property grows stronger with the competitive environment.
- Set Marketing
From the time your property is being managed by a real estate agent to be sold you incur marketing costs and if the property is not sold within a certain timeframe you may need to pay additional marketing costs to continue the sale campaign. If your property is placed on the market with a known set sale date the marketing will cover the lead up to the Auction and will usually allow for additional marketing time should the property not sell at auction.
- Immediate Commitment
Once that hammer goes down on auction day with the final bid, the contract for the buyer to purchase your home is set. There is no back and forth with offers and you have an immediate commitment from the buyer.
At Twin Waters Estate we can manage the marketing for your property, open inspections and everything for selling your home on auction day. Contact us today to find out more.