Benefits of auction
There are many reasons why buying and selling a property via auction is preferable. The main benefits are highlighted below.
Feel free to contact us if you would like to speak to a member of the auction team who will be able to answer any questions you may have.
Seller
- No fixed asking price
- Through competitive bidding your property could achieve a higher selling price than expected.
- Your reserve price protects your property from being sold below your minimum required price.
- Extensive marketing.
Immediate sale
The buyer is committed to purchase the moment the hammer falls.
No gazundering
The buyer cannot reduce their offer after the sale has been agreed. Once the hammer falls the sale is binding at the final bid price.
Buyer
No fixed asking price
If you are the highest bidder, you could acquire the property at a lower price than you were possibly prepared to bid up to.
No gazumping
Once the hammer falls, the vendor is required to sell you the property for the closing bid amount.