Why Sell on Auction?
Auctions are the fastest growing sector of the property market
and have quickly become a first choice option for selling property
in South Africa - and it's not difficult to see why - there really
are so many advantages for sellers. If you're in the market to
sell, here's why you should consider the taking the property
auction route:
- Auctions are quick: Auctions offer an
extremely speedy means to sell an asset. In fact, from the
instruction to sell to the registration of an auctioned property or
asset, the entire process can happen in as short a period of time
as 4 - 5 weeks, making auctions one of the best places to sell
property fast.
- Auctions ensure maximum value: There is no
ceiling on the maximum price that a property or asset can fetch on
auction. This means that competitive bidding will ensure that the
highest value is achieved when selling property on auction. The
competitive nature of auctions is such that the price fetched can
often exceed the expectations of the seller.
- Auctions are transparent: each transaction
takes place transparently and in the open, with all terms and
conditions available for public scrutiny. The reserve mechanism
means there will always be a minimum price, which will protect you
as the seller and ensure that your requirements are met.
- Auctions are the real deal: only
pre-qualified, focused and serious buyers participate; no
protracted negotiations, no suspensive clauses or any other
potential deal breakers. An auction offers a high degree of
certainty that a deal will be achieved on a given day, negating the
usual uncertainty when selling properties in a tough market.
- Auctions attract market interest: An auction
takes place on a fixed date. Buyers know that a willing seller has
brought an asset to market - and when the hammer falls, the deal
will be done. This ensures that the asset is highly contested as a
result of the maximum number of prospective bidders turning up at
an auction.