Property auction

[Yorkshireman]

Has anyone ever sold a property at auction,did you feel you got value and how much were the fees,one agent i researched has no upfront fees and no fees if it fails to sell.I know you can set a minimum price and once the hammer falls the buyer has to pay a deposit and has 28 days to pay up,i also know there will be open days when buyers can view but i think it will be a quicker option than normal selling routes,what do you think?.

[chuck]

It may be quicker to sell this way rather than on the open market but from what I understand your unlikely to get anywhere near the properties real value.

[Chrissie]

I've not sold, but have bought a property via auction.

As chuck says, you are unlikely to get anywhere near the properties real value. Unless it's a really unusual property.

However, as you say Yorkshireman, straight after the hammer falls the buyer exchanges contracts & has to pay the deposit, & then has a max of 28 days to complete.

[Yorkshireman]

I suppose it is a chance given the circumstances that i may have to take.