I am seriously considering selling my property at an auction! However I know nothing about auctions at all, and wondered whether any of you could offer me some tips?
Reasons I am interested in selling my house at an auction is that last year we sold our house 8 times and it fell through 8 times. We lost alot of money on surveys etc etc. The house was built in 1800 and therefore has had alot of movement plus we have bad damp which we did have done but every surveyor that came round still said that it was VERY damp!. The cable end has been rebuilt a few times before we bought it but we were given a mortgage on the house under the condition that the house has done all its moving. Now to see if its still moving we had a structural survey done which said it wasn't but no surveyor will accept this survey which cost alot of money aswell!
Do you think we should go through our buioldings insurance? Or just flog it at auction? As I am at my wits end with it and cannot see light at the end of the tunnel!
If the link works here is a little article from the Guardian on buying & selling at auction including a note about fees. I think if you set a reserve and it doesn't sell you will still have to pay an element of the fee.
Do you know what the costs are of auctions? And its in good condition decorative wise but not structural wise! Will this make a difference?
Tamtay
All Auction House commissions vary but work on 4% and they also require some cash up front for advertising. If it's in a good location it should fetch a good price and will sell, location being possibly more important then the condition. Don't forget the Buiders Golden Rule---If it was Built by Man it can be repaired by Man. OK So I made that up--- so what!
and Susiecam thanks for the great article.
