Advantages of Property Auctions for Sellers
Bookmark & Share
There are 5 major advantages to selling your property at a property auction. They include:
- Speedier marketing. Auctioneers set a date for when the home should be sold (usually a month or less), which is great for those who want to sell their house quickly.
- Convenience. Property auctions are a straight-forward process and guidelines are laid out by auctioneers before the auction date. In addition, auctioneers will help market the property by placing advertisements in the media, arrange for viewings and take care of all the legal matters.
- Good selling price. If the auctioneer does a good job in merketing the sellers property, it could be sold for a very good price.
- Good publicity. Auctioneers advertise the property in the media, and this increases the number of prospective buyers.
- Commitment from the buyer. Successful bidders must pay a deposit of 10% of the sale price on the day of the property auction. They must also sign the contract of sale on the same day.
Mary Sai, Executive Director of Auction Department, Knight Frank:
"As one of Singapore's leading auction providers, Knight Frank is pleased to be collaborating with PropertyGuru on this new initiative to reach out to a wider network of property buyers and sellers."-
Shaun Poh, Senior Director, Investment Advisory Services & Auction, DTZ:
"As one of Singapore's leading auction providers, DTZ is pleased to be collaborating with PropertyGuru on this new initiative."