Archive for September, 2011

Selling Property at Auction Vs Selling to Property Buyers

Wednesday, September 28th, 2011

Are you facing repossession? Do you need to sell your house fast to stop repossession? A lot of people would suggest you to sell the property at auction. Before you decide your next move, consider the pros and cons of property auction.

It’s not that selling property at auction is not right – but it is not for all. Auction can be one of the solutions for some homeowners only. Chances of getting best price are very low when you sell your home at auction.

Properties that need huge repairing and have sitting tenants might be suitable for auction. Homeowners who own a property that is very attractive may also get good price from auction. Otherwise selling it at auction might not be profitable.

Property auction is one of the expensive ways of selling; even if the property is not sold you need to pay the auctioneer’s costs which may climb up to £1,400 or more. Pre auction survey is another annoying phase that you have to go through; all the interested buyers would come for viewing and you have to entertain them. Besides there will be surveyors inspection, advertising, legal document preparation and many other formalities to complete.

On the other hand, if you contact a property buyer in your area – you can get a guaranteed property sale. A local property buyer in Shrewsbury would offer you close to market value for your house. And most importantly they would offer you assured sale.

A professional property buyer would purchase properties of any type and condition; they will not refuse tenanted houses even. Once you agree to sell the house to them the buyer would complete all the legal formalities, pay the solicitor’s fees up to a certain limit and then buy the house for quick cash.

When you are in hurry and need a quick sale, contacting property buyers would be the best solution for you.