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Selling your property during COVID-19 and the benefits of selling at auction

18/03/2021

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COVID-19 has in many cases put a stop to open house viewings and face-to-face sales, which has made it difficult for many people to sell their property. This has been incredibly frustrating for those with unwanted or vacant property on their hands. Here at Phillip Arnold Property Auctions, business remains as normal despite the COVID-19 pandemic. We have adapted to conducting our auctions online only since first lockdown and we can honestly and truthfully say that both vendors and purchases/investors have equally adapted to the revised format of selling and buying property at auction. For those who are struggling to sell their property, selling property at auction maybe a viable option. We at Phillip Arnold Auctions are attracting keen property buyers and investors from all across the country, and the key benefit is that under the terms of selling at auction, you will complete and receive funds within 28 days of sale of your property.

How to sell property at a remote auction

Since the beginning of the COVID-19 pandemic, property auctions have moved online, but the process of the auction remains the same. The auction opens at a dedicated time and bidders are invited to bid for a property that they want to buy. The property is then sold to the highest bidder and sellers receive an immediate contract for the sale. It is important that you register your interest in selling your property at auction as early as possible to gain maximise exposure prior to auction. You can register to sell with Phillip Arnold Auctions here through our website or give us a call on 020 8799 3880 for more information.

What are the benefits of selling property at auction?

Phillip Arnold Auctions requires bidders to place a 10% deposit fee before they can partake in the auction. This means that all bidders are serious and genuine potential purchasers/investors. This combined with our vigorous marketing prior to auction, this gives sellers a high chance of making a sale as you won’t get people showing interest and then backing out of making a purchase. As mentioned previously, following the successful sale of your property, terms and conditions ensures you will exchange and complete the sale of your property within 28 days of the agreed sale. All properties are listed with a guide price, however, many properties exceed the guide price and you as the vendor potentially can achieve a sale higher than would be expected from selling through traditional means with an estate agent. If you're looking for property auctioneers London-based, please get in touch with our team today where we will be more than happy to discuss your requirements and options in detail.