Auctions are a great way to buy property competitively. Their popularity has soared over the last decade with more and more people shunning the more traditional route in favour of going under the hammer. This growth in popularity has today made auctions a mainstream method of bagging a bargain. So if you are looking to get that first step on the property ladder, sell your home for a bigger profit or simply find yourself an investment, see why an auction could be the perfect solution to your property woes.
Speed - One of the main attractions for selling or buying at auction is the speed of the entire process. Unlike traditional routes, auctions can take between just four and six weeks from initial instruction to the exchange of contracts.
Transparency - An auction takes place in public so bidders compete openly with each other. This is incredibly helpful if there are several sellers or disputed sales.
Certainty - What every buyer and seller loves about auction is the certainty of knowing that once the hammer falls the sale is binding. Contracts are exchanged and both parties are legally bound which means there is no chance of someone backing out and leaving you high and dry.
Best price - Auctions can bring you the best price for a property. With bidders competing against each other, it ensures the price goes upwards meaning more of a profit for you.
Assistance/Customer service - Many people worry that at an auction they will struggle to get to grips with the whole process. However, Loveitts staff are experienced and professional, always helpful and ensure the processes are understood by all involved.
Successful - Loveitts have an average success rate of 84% - which is consistently above the national average around 76%.
Experienced - Always make sure that you only use professional and experienced auctioneers to buy or sell your property. Loveitts has been selling properties and land for over 150 years and are Coventry's only dedicated auctioneer.
Knowledge - It's important to choose an auctioneer that has a great deal of knowledge about the industry. Loveitts deal with anything and everything relating to property and land and therefore has a wealth of knowledge to ensure the very best advice.
Local - It is imperative to choose a local auctioneer that knows the region where you are looking to buy or sell your property. With offices in Coventry, Nuneaton, Southam and Leamington Spa, Loveitts is at the heart of the local community and has a wealth of knowledge about the towns and city it serves.
And finally, sold as seen - At an auction there is no need to clear or do any additional work to your property prior to handing over the keys. Once the buyer bids for the land or house, that property is theirs.