Finding out what your property is worth
the likely timescales and costs involved. You should choose your auctioneer carefully as this can make all the difference as to whether you achieve the best price. It may be tempting to go with the auctioneer who quotes you the highest guide price, but if your property doesn’t sell then you could be left with the auctioneer’s and solicitor’s costs and a property that you still need to sell. It can also be tempting to use the auctioneer that quotes the lowest fee, but are they really going to market your property to its full potential and generate as much interest as possible.
Here at Barnard Marcus we pride ourselves of providing great value for money always seeking to achieve the best price for our sellers.
A lot of people are put off from selling at auction because they’re worried they will lose money. We will agree a reserve price with you which is the minimum price you want your property to be sold for. This is normally set in principle when you instruct us. It safeguards you from setting a reserve that is too low or too high. It’s confidential and will not be disclosed to anyone. We will also agree with you a guide price which the property will be marketed for and which will provide interested buyers and indication of the region in which the reserve price is likely to be set.
You will need to register your property about six weeks before the auction to ensure that it is included in the catalogue and also allowing the auctioneer plenty of time to market it.
A good auctioneer will market your property online, in the local or national press and distribute the catalogue to potential buyers and investors - all the time, keeping you fully updated on the response. You’ll also need to appoint a solicitor who will help in preparing the contract of sale and supporting legal paperwork. Again, a good auctioneer will liaise with your solicitor fully, ensuring everything is in place for the auction sale.
