Property Auctions in Plymouth

plymouth

Buying and Selling At Auction in Plymouth

Are you looking to buy or sell a property in Plymouth? Have you considered Plymouth property auctions?

Property auctions are becoming more and more popular; whether you are looking to sell your property fast, or if you are on the hunt for an investment property at a bargain price. Whatever your needs or property requirements, our property auctioneers at Countrywide South West are here to help.

Each year, Countrywide South West hold 6 property auctions throughout areas including Cornwall, Devon, Somerset, Dorset, and more.

The Area

Plymouth is a popular port city, situated in Devon. With it’s maritime heritage, cobbled streets, and beautiful coastal scenery, it’s no surprise that Plymouth is a sought after place to live.

It has a population of around 234,000 people, has an array of tourist attractions and things to do, a great university, and much more! Plymouth is also home to some beautiful buildings and homes, as well as an abundance of development land. However due to the location, these properties can sometimes be out of peoples budgets, which is why property auctions are a great way to go, when looking for your ideal property in Plymouth.

 

Buying Property at Auction in Plymouth

Whether you’re looking for a new home, are thinking of relocating, or are looking for an investment property in Plymouth, our property auction experts are here to help you find your ideal property.

Buying a property at auction can seem daunting, especially if it’s something you’ve never even considered before. The process of buying a property at auction can be a lot simpler than you might think, and our teams are here to help you every step of the way.

Step 1 - Get in touch to let us know that you’re considering buying a property at auction, in Plymouth. We will then send you out a copy of our latest property catalogue, which lists all the current and upcoming properties that are available at our next auction. You can also see a list of current available properties here.

Step 2 - If you see a property you like, arrange a viewing of the property first to ensure you are happy with this before you register to bid for the property at auction.

Step 3 - Once you have found a property you like you will then need to arrange a survey, as well as the finance for the property, and any legal documentation that needs to be sorted for the purchase of the property. If you win the property at auction, a 10% deposit will need to be paid on the day, and the rest of the payment will need to be made, in full, within the 28 days following. This is why it’s important to make sure your finances for the property are arranged prior to auction day.

Step 4 - Register for the auction. This can be done prior to auction day, or on the day at the registration desk, but must be done before you can bid for a property.

Step 5 - Bidding for the property. Bids for your favoured property can be made before, during, and after the auction. If you are unable to bid in person, speak to a member of our team who can arrange an alternative form of bidding such as, over the telephone.

If you have any further questions, before deciding on whether buying a Plymouth property at auction is the best option for you, please don’t hesitate to speak to one of our property auctioneers at Countrywide South West.

 

Selling Property at Auction in Plymouth

There are a number of reasons why you may be considering selling your property at auction, whether it’s due to moving abroad, or just wanting a quick sale, whatever your reason our teams at Countrywide South West can help you with your needs.

There are also many benefits to selling at auction such as, auctions being the fastest route to selling your property, a reduced risk of the sale falling through, and it can allow you to plan ahead.

Selling your property at auction can seem like a big risk, and it can feel like you may be losing out. However, a lot of our auctions have been very competitive bidding and, due to there being such a short selling window and less time for negotiations, you may find that your property can sell for much more than the guide price.

To find out what your property, in Plymouth, could be worth at auction get in touch to arrange a free market appraisal today, where an expert valuer will visit your property and provide you with an accurate valuation of your property, as well as advising on what your best options are.

So, you’ve already decided that you want to sell your property at auction, but you’re not sure on what the next steps are? Don’t worry, we’re here to guide you through the process.

Step 1 - Arrange a market appraisal. As we’ve already said, the first port of call when selling your property at auction, is to get a market appraisal, which is completely free and no obligation. This can help us confirm whether auction is the best option and also give you an idea for your guide price.

Step 2 - Once you’re happy to go ahead and put your property on the auction market, you will need to formally instruct Countrywide South West as your property auctioneers. This will mean signing contracts, and paying an auction entry free.

Step 3 - Marketing the property. This part is then down to us to get your property out there and market it to the right people. This will include your property being listed on our website as well as other, third-party, websites such as Rightmove. Your property will also be listed in our latest catalogue, which is then distributed to thousands of investors both in the UK and abroad. The auction is then also advertised and promoted in key press, to ensure we get the right people to come along to our auction days.

Step 4 - Appointing a solicitor. You will need to speak with a solicitor who can provide you with all the necessary legal documents you will need for the terms and conditions of your property sale. The solicitor will then manage the sale of your property through to the completion.

Step 5 - Once your property is listed as available for auction, you may get potential buyer wanting to view the property. Therefore, in order to help with the sale of your property, you will need to be willing to offer viewings. If you would prefer, you can leave a set of keys to your property with our team, who can then arrange and carry out the viewings. Don’t worry, we will always advise you when there has been a viewing arranged.

Step 6 - Bids can be taken prior to the auction day, so if and when this happens we will contact you to advise of the bid offer. We will offer advice around the bid made, but it is completely at your discretion whether or not you accept these offers.

Step 7 - Auction day. If your property receives bids on auction day, the auctioneer will sell to the highest bidder. The fall of the gavel confirms the sale and the agreement between buyer and seller. If someone purchases your property at auction, they are required to pay a 10% deposit on the day, and the remaining amount within the 28 days following.

What if my property doesn’t sell at auction?

Bids can still be made on a property after an auction, so therefore, if your property isn’t sold on the day, we will continue to market this as available for 8 weeks following the auction. We will advise you of any offers received for your property, and you have the decision of whether or not to accept the bid offered.

How long does it take once my property is sold?

If your property is sold to a buyer, your solicitor and the buyers solicitor will then go through and process the exchange of contracts. The completion of this usually takes between 3-4 weeks.

 

If you are ready to buy or sell a Plymouth property at auction, please don’t hesitate to contact our team to discuss your next steps today!

 

 

 

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