Chriserenity

Please cut down the long winded advertisment in your signature strip, you can place details like, "contact details in my profile" but that is flouting the rules.

I will give you chance to edit the strip youself, if not I will remove it altogether.

Thanking you.

Sellers auctioning their homes with 3 or more bedrooms now need to have ordered a HIP before the home goes under the hammer.  There should be no delay of auction date caused by HIPs as a simple email confirming the order will suffice as proof of ordering.

The rule of thumb is that if a property has more than 3 bedrooms and is being sold on the open market it will need a HIP.  This includes new build properties, second hand homes, auction sales etc. 

Moderator edit -- Thank you for your speedy compliance.

Richard, I can't see the line that usually indicates a signature, so just wanted to let you know that you can put your disclaimer into a signature and wouldn't have to type it every time....

Just a thought.

I agree with the last post and was going to say virtually the same myself!

You might even get somebody wondering what's wrong with the property for it to be in an auction!

As a conveyancing solicitor I believe the information given in the post to be useful but I accept no liability except to fee-paying clients

Hi --- Selling at auction is best left to your local estate agents who do a regular property auction to arrange, but be advised you will rarely get the full market value, that you could expect by selling it privately.

One main reason being that you are limiting the amount of buyers who are able to raise the funding in time, so generally speaking cash buyers are the usual people who bid and buy, and they in turn expect to pay less than the full market value at auction. Only in rare cases will a property at auction exceed the full market value, examples could be that it is in the way of a planned development, or would make a local landowners empire complete, or two or three cash bidders are hell bent on winning the property at any cost using only their own money.

If your property is in a nice sought after position, then you should sell it privately to realise the full market value from it and forget the auction route, as even if you get the reserve which is usually set at undervalue to attract bidding, you are then legally obliged to sell, and could lose out big style.

Hi,

Does anyone know how you go about putting your house up for sale by an auction?

Is there a lot of hassle involved?

The reason I ask is I’m lucky enough to live in a nice sort after area. I’ve got a 2 bedroom Terrace which I’ve done up from top to bottom, and know for a fact that if it went on the market it would be sold in 2 minutes flat. Not because of its condition, ok that helps, but because of the location. It’s 12 miles outside Bristol, countryside, good schools etc. It’s very rare to see any 2 bedrooms up for sale around here.

Lets say there’s 2 or 3 interested parties that could afford the market price let’s say £160,000 for examples sake, they may get into a small bidding war, they may not.

Let’s say that they all couldn’t afford £200,000 for a 3 bed but would go up to say £170,000 to secure my 2 bed just to get on the property ladder and ignore the fact that they are paying more than the market rate!

I have no intention of moving at the moment, but I’m just curious to see if I’d make more if I sold it at auction, instead of the usual Estate Agent route, due to the nice location and the rarity of 2 bed houses on the market.

Has anyone ever sold a house at auction? Can you actually lose out?

Cheers in advance for any info.