Whozoo Auctions
Selling at auction provides access to a wide range of cash buyers who are constantly on the lookout for opportunities. If there is a strong interest in your property, then a ‘bidding war’ may see you get a higher price than expected.
Why sell at Auction?
Speed
There is no faster way to sell your property. The whole process from instruction to completion can take as little as 8 weeks.
Success
Auction gives you a better chance selling than by using a commercial agent service alone.
Legal & binding
Once the hammer has fallen, you have effectively exchanged contracts with your buyer and they are legally committed to the purchase.
Set price
With auction, there is no room for negotiation after the hammer falls. It is the buyers responsibility to fully research the property before bidding.
Competitive bidding
The aim of an auction is to get genuine interest from 2 or more buyers, which will lead them to bid against each other in the auction room which will help your property achieve the best price on the day.
Timescales
If you are looking to sell quickly, then auction is probably the best option for you. Once you receive a bid, legal completion is usually set for 28 days afterwards, this is a fixed timescale and is legally binding.
Enquire now
If you’d like to discuss whether your commercial property is suitable for auction then please get in touch for some free and expert advice, we’d love to help sell your property.
What to Consider?
Setting a reserve price
Before you sell your property, you will need to set a reserve price, which is the lowest price you will accept. Sellers and auctioneers have no control over the final price of the asset which is determined by the highest bidder on the day.
No guarantee of selling
It is important to remember that when you go to auction, there’s always the chance that your property might not sell, there are no guarantees. We will always let you know whether your property is suitable for auction and market it appropriately.
Extra costs
There are some extra costs which need to be considered like an auction entry fee and auctioneers commission that you won’t get with a commercial estate agent.