Selling property by auction
Discussion
Does anyone have any experience of this?
We have a property in the family we are trying to sell and its not moving in the current climate. Despite several drops in price. We thought it maybe an idea to auction it with a reserve.
Do the auctioneers charge large commission rates?
Is it a painless process?
Half the family believe we should let it out, I have some experience of this and think it would be a nightmare with 5 interested parties all having responsibility for the maintenance and up keep.
We have a property in the family we are trying to sell and its not moving in the current climate. Despite several drops in price. We thought it maybe an idea to auction it with a reserve.
Do the auctioneers charge large commission rates?
Is it a painless process?
Half the family believe we should let it out, I have some experience of this and think it would be a nightmare with 5 interested parties all having responsibility for the maintenance and up keep.
Clearly if you are going to let it out you need to agree between you how you do it. Either one of you takes responsibility or you appoint an agent to do it for you, there's no reason it shouldn't work if you agree beforehand how you are going to do it.
Selling at auction is reasonably easy, but it's not known as a means of getting the best price. If you need the money then it is a good way to go, but if you want the best price it probably isn't.
Selling at auction is reasonably easy, but it's not known as a means of getting the best price. If you need the money then it is a good way to go, but if you want the best price it probably isn't.
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