7 REASONS TO CONSIDERS AUCTIONING YOUR PROPERTY
Realistic news for those wanting to sell a house is that the county’s housing market remains firmly a buyers’ market, meaning that selling a property at its true worth is a lot more difficult than before.
But, the good news is that there are more effective ways of selling houses during these tough times. They can be much quicker than traditional methods and still put the same amount of money in the sellers’ pockets. In fact, auctions offer a quick and safe means of selling houses quickly and safely.
Park Village Auctions’ Roy Lazarus gives us the Top 7 reasons why sellers should consider selling their houses on auction:
1. It’s faster. Cash is received in a shorter space of time as there are no waiting periods for bonds to be granted or inspections of property etc. Buyers have to have the money available at point of sale.
2. No haggling and negotiating as the buyer has to make a decision there-and-then. There is no time to negotiate up and down once the hammer has fallen.
3. Sellers pay no commissions and only fork-out an upfront amount to cover advertising and marketing. Buyers are responsible for paying all other auction fees applicable.
4. There are no conditions nor nasty surprises later as all conditions are read out at the auction. An auction is not a suspensive sale nor is it conditional. It is totally transparent with no hidden agendas and this usually suits both parties.
5. Companies like Park Village Auctions advertise extensively and give highly effective newspaper and online exposure to properties. In this way they are able to attract all the buyers in one spot at one particular time. Sellers avoid the inconvenience of showing their houses to potential buyers over an extended period of time.
6. Live online auctions give unique access to buyers from outside of their areas. It allows local and international investors the opportunity to view and participate in auctions wherever they may be.
7. The seller can be kept private where sensitivities are likely to be encountered.
“While our auctions are advantageous for sellers in many ways, factors such a property’s location still influences how the auction performs. It is therefore important for sellers to set a reasonable, market-related reserve price,” says Roy.
Buyers should watch the auction pages and pay daily visits to the Park Village Auctions website www.parkvillageauctions.co.za to identify their dream houses. Depending on the location bidders can either physically attend the auction or log into the live online facility.