6 Reasons Why You Should Take a Property to Auction
If you’ve decided to put your Costa del Sol For Sale Property on the market, choosing the right method of sale is extremely important. There are a number of benefits to taking your home to auction including creating competition in the market, having a set end date and unconditional contracts.
1. Creating competition Auctions create a competitive bidding environment and have the ability to establish an emotional connection between the property and the purchaser in a short period of time. This may raise a home’s value, and help achieve the best reaction.
2. Having a set end date Having a set date creates the urgency for a prospective purchaser to be organised for auction day. If a buyer inspects the property seven days prior to auction day then they have 7 days to be ready to perform and make a bid. Setting a date also creates a structured selling plan in which to achieve a sale either prior to auction, at auction or post auction. It gives the vendor and agency clarity on their roles in the selling process and also ensures they are prepared for all open for inspections and the auction.
3. Attracting more potential buyers Taking a home to auction can help you attract more buyers through the open for inspections and more bidders registering at the auction. Interested buyers may stretch themselves under a competitive environment to sell your property.
4. Get the most from your marketing When selling your property there will always be an investment in marketing. A high impact marketing campaign, usually condensed between 21 – 28 days, gives you the opportunity to attract the maximum amount of buyers in a minimum amount of time. It also gives purcharsers more opportunities to see the advertisement, recognize it, and develop an immediate emotional connection between the property and themselves as a buyer. You never get a second chance to make a first impression.
5. Reduce days on market Auction ultimately reduces days on market. It creates a competitive environment where bidders can compete for your home and as a seller there is no doubt that this is the best way to sell your property.
6. Unconditional contract Auction gives you an immediate unconditional contract. Once the hammer falls a buyer is bound to the contract and an immediate exchange then takes place. It gives you as the seller clarity in regards to the sale. Auction is the most transparent way to sell real estate. Buyers can see who they’re competing with and sellers can see first hand what the market is prepared to buy their Spanish Property For Sale.
If you are considering selling or buying a Property on the Costa del Sol, one of our SpainForSale.Properties professional Real Estate Agents will be delighted of helping you in the process.