Is a modern auction suitable for you?

by admin

Having mentioned the home seller’s personal circumstances, is a modern auction suitable for you?

One potential situation where it might be the ideal solution is if the home seller is not in a chain and needs to move quickly.

For example, they may be moving into a vacant property or a new-build home.

That means there is no upward chain so it could be a safe option to find a buyer.

It’s also worth considering if you have already looked at selling using a traditional auction, that the reserve price tends to be too low.

You need to be aware that a traditional one may set the reserve at around 15% below the property’s actual market value.

That means using a traditional auction may not realise the market value, whereas a modern method of auction will see the reserve price tending to be higher.

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