Open House Lancashire

Open house Lancashire brings you a truly Hybrid Estate Agent Experience

Selling Property Through Auctions

Open House Auctions

Selling Property Through Our Auction Couldn’t Be Easier

Selling property through one of our Open House auctions couldn’t be easier with no estate agency fees to pay and the deposit paid by the buyer, securing the sale.

The majority of our properties are offered for sale via the Modern Method of Auctions. This is not to be confused with the Traditional Method. Where a legal exchange of contracts is required immediately after the auctions end. 

Our Open house auctions are a more client-friendly process. They are still based around a fixed timescale but allowing longer periods for exchange and completion to further accommodate the residential buyer and seller. 

Thus our Open House estate agents make sure that they deliver what best suits and fit your needs.

Open house estate agents are there to talk to you, analyse your needs, prioritise your benefits and sell your property through an auction that couldn’t be easier!

Thus, if you are looking for Open House auction services in Lancashire, Burnley, Preston or other parts, talk to our Open House estate agents and attain services that shall not disappoint you! 

At Open House Lancashire, you ca choose between Modern Method of auction or the traditional method of auction. The two methods are quite different and are made available for your convenience. 

The details of the two methods for Open House Auctions are jotted below, feel free to know more if you have any questions. 

 

Modern Method

  • Reservation fee paid within 2 hrs of an auctions completion (this is a reservation fee and does not form part-payment of the final selling price).
  • 28 days for exchange of contracts.
  • 28 days for completion of contracts.
  • A more client friendly process allowing time for buying with finance and organising a removal van.

Traditional Method

  • 10% paid immediately after auctions.
  • Immediate exchange of contracts.
  • 14-28 days of completion of contracts.
  • A process more appropriate for commercial investments or repossession stock.

Frequently Asked Questions:

What are property auctions?

A property auction is a method for selling real estate through a public bidding process. Imagine an event where interested buyers compete to purchase a property.

This can be for various reasons. Sometimes, banks auction off homes that have been foreclosed on. In other cases, a homeowner might choose an auction to sell their property quickly.

Here’s how the auction itself works: An auctioneer, who manages the event, will oversee the bidding. Potential buyers compete by calling out or placing bids on the property. The auctioneer will raise the price based on these bids. This bidding process continues until there’s just one remaining bidder, who becomes the winner. They will purchase the property at their final bid price.

It’s important to note that property auctions can be risky. While there’s the potential to buy a property below market value, there’s also the chance of a bidding war that drives the price up over market value. Before participating in a property auction, it’s essential to do your research on the specific auction process and the property itself.

Is Property in auction cheaper?

There’s a common misconception that properties at auctions are always cheaper. The truth is, it can go both ways:

  • Potentially Cheaper: It is possible to snag a property below market value at auction. This might happen if there’s less competition for the specific property, or if the seller is motivated to sell quickly and is willing to accept a lower price.

  • Potentially Pricier: Auctions can also create bidding wars, where multiple interested buyers compete by driving the price up. In these situations, the final selling price can end up exceeding the market value.

On average, statistics suggest properties might sell for around 10-15% less than market value at auction. However, this depends on many factors, and it’s not guaranteed.

Does Open House Lancashire offer property auction?

Open House Lancashire is your gateway to incredible property opportunities through auctions, offering prime real estate at unbeatable prices. Here’s why you should consider their auctions:

– Competitive Pricing: Open House Lancashire ensures that properties auctioned off are priced competitively, providing buyers with the chance to secure desirable properties at below-market rates.

– Wide Range of Properties: Whether you’re in the market for residential homes, commercial spaces, or investment properties, Open House Lancashire auctions feature a diverse selection to meet your needs.

– Transparent Process: Bid with confidence knowing that Open House Lancashire maintains a transparent auction process, giving all participants equal opportunity and ensuring fair dealings.

– Expert Guidance: Their team of experienced professionals is on hand to guide you through every step of the auction process, offering valuable insights and assistance to help you make informed decisions.

– Accessible Platform: With Open House Lancashire, accessing auction properties has never been easier. Their user-friendly platform allows you to browse listings, participate in auctions, and secure your dream property with ease.

Don’t miss out on the chance to acquire premium properties at the best prices possible. Explore the opportunities available through Open House Lancashire’s auctions today!

Does Open House Lancashire offer Property auctions in Lancashire only?

Open House Lancashire offers property auctions in different areas such as:

  1. Accrington
  2. Blackburn
  3. Burnley And Surrounding Areas
  4. Preston
  5. Penwortham
  6. Fulwood
  7. Garstang