JUSTIN Lowe MRICS, partner at Greenslade Taylor Hunt, sees the enormous potential – and reward of selling property at auction.
Mr Lowe, who oversees the firm’s long-established property auctions, said: “We have had a busy year to date and undoubtedly with a difficult housing market more agents and property owners are seeing the advantages of selling at auction.”
The pattern is nationwide with the number of properties coming to auction in the UK having risen by 11.3 per cent in the last year – and up by 26 per cent in the South West.
Meanwhile the Nationwide has reported a decline in average prices of over 3 per cent.
Traditional in-room auctions have always been an extremely popular way to sell and buy property and land.
However, it’s no longer just the preserve of homes in desperate need of repair, it’s fast become a typical way to sell any type of home or property.
Greenslade Taylor Hunt regularly see a range of farms, land, equestrian property, listed buildings, as well as more typical barn conversion opportunities and building plots, come up for auction.
Auctions provide a fast route to achieving a sale for those looking to sell swiftly.
The uncertainty of the process is taken out. Sellers agree in advance an undisclosed reserve price, which will be the minimum price the property will sell for. The gavel falls when the highest bid is reached and contracts are then legally exchanged and completion is set.
GTH has a busy programme of autumn auctions. These take place at Shrubbery Hotel, Ilminster, on September 27, Aldwick Estate, Redhill, on October 18, Shrubbery Hotel, Ilminster, November 22, and Batch Country House, Lympsham, on December 13. All auctions start at 2pm.
Source:
Story by Phil Hill
‘House owners increasingly selling homes at auction’ says Taunton auctioneer (msn.com)
