Selling your property by auction
Hi. My name is Michael McCaffery. I’m the chief auctioneer with First National real estate.
Are you looking at selling your house in the near future and considering the auction process? Well I’m here today in this short episode of FNTV to discuss the details that you should consider if deciding on selling your property by auction.
At auction your property is sold to the highest bidder subject to the reserve price. The reserve price is the lowest price your willing to accept. An auction exposes your property to a wide audience of buyers, these buyers will compete on auction day and driven by the excitement of the auction spirited bidding can sometimes lead to a surprisingly high price.
An auction delivers a set period of time for the sale other sales options can sometimes be open ended. Once you have made you decision to go to auction a program can generally be under way with in 24 hours with your auction in stage 3 to 6 weeks after that. Eliminating the price issue, as the reserve price for an auction is usually set prior to the auction you will have the benefit of receiving 3 to 6 weeks market feedback to assist you in determining the appropriate reserve for your property.
Marketing a targeted marketing campaign is designed to saturate specific buyers ensure your property is shown to the widest possible market. No cooling off period, if your property is sold at auction there is no cooling off period it is an unconditional sale. Yes, all properties can be sold by auction but your First National real estate agent is best positioned to determine the most desirable method of sale for your property.
At First National real estate we tailor reach auction marketing campaign to suit your specific requirements and your individual home. For more details call into your First National office.
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