Despite some uncertainty in the property market, there are still plenty of property buyers, including buyers that are not reliant on mortgage lending.
Selling at Auction in the Spring and Summer of 2023
Since the announcements made in the mini-budget on the 23rd of September 2022, the property market has been adjusting to higher borrowing costs. The adjustment has been difficult for property buyers and sellers.
In recent months estate agents have reported of sales falling through as buyers are no longer able to afford higher interest rate mortgage repayments. And just like mortgage lenders, property buyers want certainty too. They want to know their commitment to a property purchase is going to be economically sound. As such, some buyers see the risk of a cooling market and have put their house moving plans on hold.
But despite the uncertainty, there are still plenty of property buyers in the market, including buyers that are not reliant on mortgage lending.
So the question is, how do you find a proceedable and committed property buyer?
With an auction sale, motivated buyers meet motivated sellers. Auction buyers are "exchange ready", they're committed and proceedable. The successful bidder on auction day pays a deposit and legally exchanges contracts, they cannot back out of the sale or reduce their offer.
Auction: a refreshing alternative
The process for selling by auction overcomes many of the inefficiencies of selling through an estate agent; where, like a game of snakes and ladders, the sale can fall through at the last minute, after months of waiting, the seller is back to square one.
If you're in the market for a reliable property sale in the spring and summer of 2023, it's worth finding out if auction is a viable option for you.
Thinking of selling your house at auction? Any type of property can be sold at auction, whether in good or poor condition. Call 0800 862 0206 for your free auction sale price estimate, or request a quick quote online.
Next steps
Contact us to find out if your property is suitable for auction. Request a free pre-auction appraisal or feel free to call us on 0800 862 0206 - we'll be happy to help.
