Auctions are your fastest method of sale. A legally binding contract between the buyer and the seller is formed as soon as the hammer falls, with the majority of sales completing within the following 28 days. That means you could be sold and moved within a month. That’s quick.
Competitive bidding during the short selling window can lead to properties selling for much more than expected. Buyers have less time to negotiate offers or think through pricing strategy. People often get wrapped up in the auction energy and it’s not uncommon for lots to sell for more than £100,000 over their guide price!
Buyers are legally bound to pay a 10% deposit as soon as they win the sale. The remaining balance on the property must be paid within 28 days. For this reason, it’s very unlikely for buyers to back out of a sale.
Some properties naturally benefit from being sold at auction…
