Tyne & Wear Property Auctions

Buying & Selling Property at Auction in Tyne & Wear

Are you thinking of buying or selling a property at auction in Tyne & Wear?

Buying and selling properties at auction can sometimes seem like an overwhelming, or a scary, prospect. Some people don’t see property auctions as a normal, traditional way of buying or selling, and can feel some uncertainty when it comes to buying a new property, or selling your existing property, in an auction.

However, auctions are becoming increasingly more popular as a way of buying and selling properties, and there are many reasons for this. We are here to let you know of all of the benefits of property auctions in Tyne & Wear.

 

Buying a Property at Auction in Tyne & Wear

If you are considering buying a property at an auction in Tyne & Wear, the first thing to do is to contact us so that we can send you the most recent copy of our catalogue. This will include all of our available auction properties, as well as information about our upcoming auction dates.

You can also click here and do a search for your preferred area, to see a full list of available auction property lots, on our website.

If you find a property you like, you can arrange a viewing of the property before making a decision to bid.

Once you have decided on a property, you will then need to arrange a survey and sort any necessary finances prior to registering for the auction. We ask that finances are arranged before the auction as, if you win the property you are bidding on, you will be required to pay 10% of the final price on the day. The remaining amount will need to be paid within the following 28 days, after auction.

Buying a property at auction can be the perfect way to grab a property at a great price, especially if you are keen on getting in to some property renovation, or you’d like a second property to rent out.

If you’d like more information about buying a property at auction in Tyne & Wear, please don’t hesitate to contact our team or property auctioneers at Blundells today.

 

Selling a Property at Auction in Tyne & Wear

Selling your property at an auction can seem like quite a big risk for some, as you may feel that your property might not sell for as much as if you were to sell traditionally. However, selling at auction can be the ideal way to sell a property if you are looking for a quick sale, and that doesn’t always mean compromising on the price of the property; especially if you choose the right property auctioneers to auction your property with.

If you’re thinking of selling at auction in Tyne & Wear, you will first need to arrange a market appraisal, which is completely free of charge and there is no obligation to sell. This will give you an idea of whether your property is suitable for auction and what kind of price it should be valued at.

There are many benefits to selling at auction including:

  • Quick sale - The sale of an auction property, from instruction to completion, can take up to just 8 weeks.
  • Fast payment - The winning bidder is required to pay 10% of the property price on the day, and the remaining amount must be paid within the following 28 days after purchase.

When the property is marketed right it can attract many bidders, which can, in turn, start a bidding war on your property. This gives you a much better chance of your property selling for more, and can sometimes receive a much higher bid than the guide price. Blundells have previously sold properties for £100,000 over the guide price at auction. You are also able to set a minimum price your property can sell for, so there is no risk of the property being sold for less than your asking price.

When you choose to sell your property at auction with Blundells, your property will be listed in our latest catalogue which is sent out to thousands of investors throughout the UK and abroad. Your property will also be listed on our website, on third-party websites, and often in printed media, to make sure your property has the best chance at gaining attention before the auction.

If your property doesn’t sell on the day of auction, it will still be listed and available for bids for 8 weeks following the auction day. 

If you have any questions about selling a property at auction, or if you would like to start the process of selling your property at one of our auctions, in Tyne & Wear, please don’t hesitate to contact us today.

 

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