With its stunning views, beaches, and fresh sea air, the coastal county of Cornwall, is a well sought-after place to live; making it the ideal spot for buying and selling property at auction.
More and more people are now choosing to buy and sell their property and land at auction, as opposed to the traditional way of selling with an estate agent. This is due to their being several benefits to auctions for both buying and selling.
If you are in the market for a new property, or if you are looking for an investment property in Cornwall, buying at auction could be the ideal choice.
There are many benefits to buying a property at auction rather than buying in the traditional way including:
Quicker Process - Buying a property in the traditional sense, with an estate agent, can end up being a lengthy process, especially when you’re buying a property that is in a chain. However, buying a property at auction in Cornwall can be much faster; usually taking just a few weeks from the auction day to completion.
Less risk of fall-through - When buying a property there is always the risk of this falling through, if someone in the chain falls-through and this creates a domino effect, or the seller decides to take their property off the market. When buying a property at auction provides less of a risk of this happening, as you are required to pay 10% of the overall amount the property is won for, on the day of auction.
Easy Process - Buying at auction can be a very easy process. As long as you have all of your finances arranged beforehand, and a solicitor, you are usually able to turn up on the day, register for the auction, and bid on the Cornwall property you are interested in. It is advised to speak with the auctioneers before the auction day though, as they will be able to provide you with the terms and conditions of the sale from the sellers, so that you are prepared prior to bidding on the property.
If you are interested in buying a property at auction in Cornwall, don’t hesitate to contact our team of experienced auctioneers at Countrywide South West to discuss your requirements today.
Whether you’re hoping to sell your property fast, are wanting quick money for your sale, or are looking for competitive selling prices, selling your property at auction in Cornwall could be the best solution for you.
There are several benefits to selling your Cornwall property at auction with Countrywide South West, including:
Quick sale - Selling at auction can be the quickest way to sell your property, so if you’re hoping to sell quickly, speak to our property auctioneers today who will be able to guide you through what you need to do to get started. From instruction to completion usually takes around 8 weeks in total, as opposed to anything 6 weeks to 8 months when selling in the traditional way.
Competitive bidding - If your property gains enough attraction, meaning there are multiple potential buyers interested in your Cornwall property, this can start a “bidding war” which can significantly increase the buying price of your property.
Fast cash - When your property is sold at auction, the buyer will be required to pay a 10% deposit of the overall winning amount, and the remaining amount is to be paid within 28 days following the auction. So, if you’re wanting to sell a property for quick money, selling at auction is the sure way to do this.
Reduced risk - Due to the buyers being required to pay a 10% deposit once the property has been won at auction, this reduces the risk of the buyers backing out of the sale.
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