Many possessions sellers do not think property auction as an ideal way to arrange of the property. It is said that property auctions are a huge way for real estate agencies to sell property but not so much for person property sellers. Other than the fact remains that property auction has been productively taking place for more than a few decades.
It is though worthwhile to know the objection people – chiefly property sellers – have for property auction UK
- The auction system, extra often than not, does not promise a fair market price for the seller. Fair market price is potential only after extended negotiations between a willing seller and a willing purchaser without bound by rules.
- The auction operation usually allows for a timeframe of 3 to 4 weeks which is too short for buyers who may have to sell their to be had house first, or arrange for home finance, or raise money otherwise. As such these potential buyers may not come forward to involve you in property auctions.
- When real estate agents counsel going to auction, they hardly ever have any idea how many buyers may contribute in the auction. The agents always act in haste and in an ill-informed way.
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