Thanks to TV programmes like Homes under the Hammer, the auction room has become an increasingly popular place for selling property over recent years; a place where you get the best price as well as a secure and quick sale. But it’s still a method of sale that many vendors don’t consider when selling a property, assuming it’s a place reserved only for property professionals.
“In the past the auction room was thought of as a dark and smoky room at the back of a pub where properties would be sold at a knock down price,” explains Andrew Parker, auctioneer and managing director at SDL Auctions Graham Penny.
“Nowadays that couldn’t be further from the truth. Our auctions are held in a large modern room at the bet365 Stadium and our sale prices truly represent the current property market.”
SDL Auctions Graham Penny is inviting entries for its next auction on Wednesday 24th May at the bet365 Stadium so click here or call 01782 481 232 to request a free property appraisal
The sale of property by traditional auction is a proven method of achieving the best price. More importantly, a sale by auction is secure and cannot fall through; once the hammer falls, the property is sold, contracts are exchanged in the auction room and will usually complete in 21 days.
Achieve the best price
Andrew added: “One of the most common misconceptions with an auction sale is that maybe you’re not going to get the best possible price. That’s actually incorrect and our recent results demonstrate that with several lots selling in the auction room for much more than they were originally marketed at with estate agents.
“If you offer a property for sale to a room full of motivated, competitive buyers you will certainly sell it for all that it’s worth.”
An auction sale is swift and secure
“Quite often people perceive an auction sale as being the last resort but it shouldn’t be, it ought to be the first method of sale. On the fall of the hammer the buyer has certainly bought the property; there is no opportunity for them to renegotiate or change their mind and it offers the security and comfort that the matter will be dealt with swiftly and securely.”
The whole sales process takes around six weeks and includes four weeks of intensive advertising on the SDL Auctions and Rightmove websites, regular adverts in the local press and inclusion in the high quality auction catalogue distributed to 10,000+ active buyers.
SDL Auctions Graham Penny asks for only a £295 entry fee for sellers upon instruction along with an agreed small commission rate and the buyers in the auction room only pay a £750 fee plus their 10 per cent deposit to guarantee the sale.
Formerly known as Graham Penny Auctions, the business was acquired by the SDL Group in early 2016 in a deal which saw the Group’s auction operation double its total sales to more than £160m per annum taking it in to the top four nationwide and becoming the UK’s largest auction network outside of London.
SDL Auctions Graham Penny is currently inviting entries for its next Stoke auction on Wednesday 24th May at the bet365 Stadium.
Now is a good time to sell a property and a great time to sell by auction,
so call Andrew and the team on 01782 481 232 or click here to request
a FREE no obligation auction appraisal.