The pros and cons of going to auction
If you are currently planning to sell your property in the near future, then you will need to decide whether or not you want to go to auction.
Auctions are often advantageous to sellers as they could potentially allow you to secure a higher sale price than you would have otherwise been able to get.
This is because the competitive nature of the auction process has the potential to drive the price of the house above its true market value.
Auctions are also exciting, in that you are likely to sell your house on a particular date, and there is also the advantage of being able to set a reserve price as a safety net of sorts.
However the success of your auction will depend largely on the auctioneer that you employ, and it is important to choose one who is competent and experienced.
Enthusiasm isn't everything, as your auctioneer will also need to be wise to the nuances of the local property market as well as the various selling points of your property.
You may also feel like you have less control over the sale if you take your house to auction, as you will be required to sell your property to whoever places the highest bid - unless it does not meet your reserve.
Selling a house is a major life event, and it is not one to take lightly. Make sure you carefully consider all your options before making any final decisions in order to best set yourself up for success.