TM
Your Auction Partner
The seller benefits from
auction
The seller benefits from the 'hype' created by the
auction platform. There is a sense of urgency to the
sale, and a fear of loss which attracts maximum buyers
to the auction. The more buyers, the more fierce the
bidding and the greater the result.
Sellers have come to realise that auction provides
them with a quick turnaround time, a sale is concluded
within twenty one days. This prevents unnecessary
holding costs, e.g. interest, insurance, bond costs,
rates and taxes, etc. and allows the seller to proceed
confidently with his plans without being subjected to a
long drawn out sale.
The seller gets to place a reserve on the property and
an offer made on auction is non suspensive, i.e. not
subject to a bond - or any other suspensive conditions.
Finance must be in place prior to bidding. This
alleviates the uncertainty of whether or not the buyer
will qualify for finance and places the seller in full
control of the sale. On the fall of the hammer the
successful bidder secures his bid with a deposit,
furnishing guarantees for the balance within a set
period after acceptance of the sale.
These bona fide buyers are stimulated by the auction
atmosphere and the highest price achieved at the
auction is pocketed by the seller with the added benefit
that the buyer is responsible for the auctioneer's fee.
The buyer benefits from
auction
Buyers have a strong preference for acquiring property
on auction as auction sales are overtly transparent, fair
and open. There is no risk of over paying for a property
as the buyer determines the market value. The seller
cannot be accused of covert dealing, selling to a
preferred buyer or selling at an inflated price.
The buyer understands that auction provides an
immediate result, alleviating lengthy, time consuming
negotiations with sellers who often have unrealistic
price expectations. An auction publicly demonstrates
to the market that the seller is serious and not just
testing the market and that the sale is genuine.
The auction platform facilitates a fair process. Buyers
know quickly whether or not their offer was successful,
enabling them to implement their plans for the property
timeously.