Auctions are becoming more popular in Western Australia. They’re a great way to sell your property if you’re looking to sell quickly, as there’s a clear timetable set. It’s usually 28 days. And on many occasions the sale price exceeds the vendor’s expectation due to the competitive nature of the bidding on auction day.

The secret to a successful auction is a well-planned and coordinated marketing campaign in the weeks leading up to auction day.

As a seller, you won’t have to deal with ‘subject to’ offers.  When a property is sold at auction, the buyers have to pay a large deposit immediately – and then comply with your terms to complete the sale.  As soon as the auctioneer’s gavel falls, you get a commitment to buy.  So there’s no waiting for finance to be approved, no waiting for another property to settle and no waiting for the outcome of a termite or building inspection.

Although an auction-generated contract of sale is unlikely to fall over, your buyer may still fail to meet the completion date. There’s no guarantee that your property will sell – and if its sells before the auction date, you may still be liable for marketing and other costs. If you’d like to know more about auctioning your property, then have a chat with auctioneer Alan himself. His number is 9474 2000.