Ok so where now really getting into the process of selling your property through auction.
Today we are goingto address one of the most inconvinient parts of selling your property.
Opening your property to strangers
This is otherwise known as potential buyers viewing your porperty.
With auctions as mentioned before. Auctioneers do not just rock up at your door step expecting you to suddenly open your property to a perfect stranger and allowing them to view your property.
Or
Estate Agents calling you wanting to bring a potential buyer to your property in 5 minutes.
Remember imentioned it before that auctioneers work for the seller. Therefore the seller can dictate when it is convinient to open their property to the auctioneer and the potentianl buyer. By doing this save the seller loads of time and loads of money.
You will be surprised as to how much money is lost in this inconvinience.
Auctioneers also do not believe in have a show house every single sunday all day until the auction day. They have found with show houses that they can be potentially a waste of time. The reason for this is that they get people that are just nosey or they have just bought down the road and wanted to see what they are missing out on. Others just don't have anything better to do on their Sunday so they drive around looking at properties that they have no intention to buy.
What auctioneers tend to do is have one show house the Sunday before the auction for a limited time for instance two hours.
So, if you don't like your privacy invaded and you want to save money. Then the auction route is the way forward for you.
Remember, If you want to be in control of the selling of your property take it to auction.
Contact Dales Bros Auctioneers for more information.
I hope you enjoyed this part.
See you tomorrow for Part 6
Regards
Mornay
Showing posts with label Property. Show all posts
Showing posts with label Property. Show all posts
Tuesday, August 27, 2013
Why Auction Your Property Part 4
Firstly sorry guys for not writing to you on Monday.
What I will do is do two posts today to catch up.
So what will we be talking about today?
Auctions have the power to unlock the value of your property.
Mmmmm, What do I mean when I say the auction has the power to unlock the value of your property?
Well it is pretty simple. There is basically five steps to this.
1st is the Connection. Auctions are able to execute mulitfaceted global marketing campaigns. Each campaign tailored to your property. Throughout the campaign the auctioneers is able to put the spotlight onto your property generating expanantially more visibility and exposer than what you would normal recieve from marketing the property yourself or through an estate agency.
2nd The Contact. AS a result of the comprehensive maketing campaign buyers around the globe enquire about the property. During this pariod of time the auctioneers will contact each potential purchase and discuss the property with them and answer any of the purchasers questions. The auctioneers will also invite these potential buyers to attend a mini show house or if theyt cannot make that show house they would schedule a private showing.
3rd The Due Diligence. Potential buyers are provided with a comprehensive bidder information package. This information provides the buyer with all the necessary information required for them to become familier with the auction process and the property so that when it comes to auction day they are prepared and ready to bid aggresively. Now this is a very important step in the process as all properties are sold as is, there is no repairs to the seller, no contingencies, financing or otherwise.
4th The Auction. The auction is the time when everything comes together. The auction maybe held at the property, our at a venue where the auctioneers will auction multi properties and in some cases auction the property online. The auction is when multiple bidders compete to purchase the property for the highest possible price.
5th The Closing. The closing will generally take place no more than 30 days after the auction. At th closing the buyers and sellers accomplish their goals they set out to achieve. The buyer will be all excited about their new purchase and the seller will be over the moon becasue they have achieved what they have been trying to do for along time.
By following these five basic steps unlocks the true value of your property.
Thanks for regarding.
As usual, if you have any questoins or comment you would like ask or leave please do so.
Regards
Mornay
What I will do is do two posts today to catch up.
So what will we be talking about today?
Auctions have the power to unlock the value of your property.
Mmmmm, What do I mean when I say the auction has the power to unlock the value of your property?
Well it is pretty simple. There is basically five steps to this.
1st is the Connection. Auctions are able to execute mulitfaceted global marketing campaigns. Each campaign tailored to your property. Throughout the campaign the auctioneers is able to put the spotlight onto your property generating expanantially more visibility and exposer than what you would normal recieve from marketing the property yourself or through an estate agency.
2nd The Contact. AS a result of the comprehensive maketing campaign buyers around the globe enquire about the property. During this pariod of time the auctioneers will contact each potential purchase and discuss the property with them and answer any of the purchasers questions. The auctioneers will also invite these potential buyers to attend a mini show house or if theyt cannot make that show house they would schedule a private showing.
3rd The Due Diligence. Potential buyers are provided with a comprehensive bidder information package. This information provides the buyer with all the necessary information required for them to become familier with the auction process and the property so that when it comes to auction day they are prepared and ready to bid aggresively. Now this is a very important step in the process as all properties are sold as is, there is no repairs to the seller, no contingencies, financing or otherwise.
4th The Auction. The auction is the time when everything comes together. The auction maybe held at the property, our at a venue where the auctioneers will auction multi properties and in some cases auction the property online. The auction is when multiple bidders compete to purchase the property for the highest possible price.
5th The Closing. The closing will generally take place no more than 30 days after the auction. At th closing the buyers and sellers accomplish their goals they set out to achieve. The buyer will be all excited about their new purchase and the seller will be over the moon becasue they have achieved what they have been trying to do for along time.
By following these five basic steps unlocks the true value of your property.
Thanks for regarding.
As usual, if you have any questoins or comment you would like ask or leave please do so.
Regards
Mornay
Friday, August 23, 2013
Why Auction You Property Part 3
As we continue on our journey in discovering why auctions are the best way to sell your property, I'm going talk today on a subject that I have already mentioned in previous posts.
No Suspensive Conditions
If you have been in the property market you will know what I mean by suspensive conditions.
But for those who are new to the property market I will explain what suspensive conditions are.
Suspensive conditions can be your worst enemy or your friend. Suspensive conditions are conditions that are added to a sale agreement if the purchaser has to apply for a bond or has to sell their property in order to buy your property. In other terms suspensive conditions can also be called "subject to".
Under normal selling conditions through estate agents the purchaser can have all the power and dictate to you the seller as well as the estate agent. They can insist on suspensive conditions. The reason they do this is to safe guard themselves. So if anything goes wrong they can walk away from the sale leaving the seller and the agent at a lose.
With auctioning suspensive conditions do not apply at all. So there is no waiting and worrying if the sale is going to fall through because the purchaser has not been able to sell their property or they have not been able to raise the finances. All purchasers have to either have their finances ready or be pre-approved by a financial institute. Without the suspensive conditions, puts the seller back in the driving seat.
I hope this has helped. If you still not sure please comment and I will get back to you as soon as I can.
See you on Monday for Part 4
No Suspensive Conditions
If you have been in the property market you will know what I mean by suspensive conditions.
But for those who are new to the property market I will explain what suspensive conditions are.
Suspensive conditions can be your worst enemy or your friend. Suspensive conditions are conditions that are added to a sale agreement if the purchaser has to apply for a bond or has to sell their property in order to buy your property. In other terms suspensive conditions can also be called "subject to".
Under normal selling conditions through estate agents the purchaser can have all the power and dictate to you the seller as well as the estate agent. They can insist on suspensive conditions. The reason they do this is to safe guard themselves. So if anything goes wrong they can walk away from the sale leaving the seller and the agent at a lose.
With auctioning suspensive conditions do not apply at all. So there is no waiting and worrying if the sale is going to fall through because the purchaser has not been able to sell their property or they have not been able to raise the finances. All purchasers have to either have their finances ready or be pre-approved by a financial institute. Without the suspensive conditions, puts the seller back in the driving seat.
I hope this has helped. If you still not sure please comment and I will get back to you as soon as I can.
See you on Monday for Part 4
Wednesday, August 21, 2013
Why Auction Your Property Part 1
Yes this is a very good question.....
I have decided to answer this question over a series. I'm goingto breack it down into sections and go through all the advantages of auctioning your property.
So here we go.
The biggest and most important reason to auction your property is this.
Seller Does Not Pay Commission
You're probably going yea right......
Well it is true. But I'll back to that in a minute.
When selling your property you have to make some very important decisions. Decissions like, "do I sell the property privately" or "which estate agency do I use".
For those who choose to sell their property own their own is for one reason most of the time. They don't want to pay commission. I totally agree. Who wants to give away money that can very easily be yours.
Well there is an alternitive.
When you sell your property at auction you do not pay the commission. The commission is paid by the purchaser. It is as simple as that. But please not that the property has to sell under auction conditions. Meaning, The property has to be included in on the day of the auction and Purchasers have to have a chance to bid on the property.
Now there is an alternative to this. Some auction houses such as Dales Bros Allow for what is called pre-auction offers and post auction offers.
Pre-auction offers is an offer to purchase submitted before the auction. There are certain rules that apply to this though. Rules such as the offer will be a private treaty offer to purchase (I'll explain this at a later stage). The purchaser has to have their finances ready. The sale has to be concluded before the auction and there are no suspensive conditions allowed. (I'll explain suspensive condition at a later stage). The most imprtant thing is that the seller will then pay the commission. But Dales Bros works differently with the commission situation. What they do is ensure the offer that is submitted is a strong offer. What I mean by this is that the offer has to cover the commission for the seller. By doing this, in theory, The purchaser is paying the commission.
Post auction offers really work in the same way as a re-auction offer. So I won't bore you with the same story twice.
Well that is it for now. I hope this has helped you to understand property auction a bit better.
As usual, if you have any questions or concerns please drop me a comment and i will get back to you soon.
See you tomorrow for Part 2
Regards
Mornay
I have decided to answer this question over a series. I'm goingto breack it down into sections and go through all the advantages of auctioning your property.
So here we go.
The biggest and most important reason to auction your property is this.
Seller Does Not Pay Commission
You're probably going yea right......
Well it is true. But I'll back to that in a minute.
When selling your property you have to make some very important decisions. Decissions like, "do I sell the property privately" or "which estate agency do I use".
For those who choose to sell their property own their own is for one reason most of the time. They don't want to pay commission. I totally agree. Who wants to give away money that can very easily be yours.
Well there is an alternitive.
When you sell your property at auction you do not pay the commission. The commission is paid by the purchaser. It is as simple as that. But please not that the property has to sell under auction conditions. Meaning, The property has to be included in on the day of the auction and Purchasers have to have a chance to bid on the property.
Now there is an alternative to this. Some auction houses such as Dales Bros Allow for what is called pre-auction offers and post auction offers.
Pre-auction offers is an offer to purchase submitted before the auction. There are certain rules that apply to this though. Rules such as the offer will be a private treaty offer to purchase (I'll explain this at a later stage). The purchaser has to have their finances ready. The sale has to be concluded before the auction and there are no suspensive conditions allowed. (I'll explain suspensive condition at a later stage). The most imprtant thing is that the seller will then pay the commission. But Dales Bros works differently with the commission situation. What they do is ensure the offer that is submitted is a strong offer. What I mean by this is that the offer has to cover the commission for the seller. By doing this, in theory, The purchaser is paying the commission.
Post auction offers really work in the same way as a re-auction offer. So I won't bore you with the same story twice.
Well that is it for now. I hope this has helped you to understand property auction a bit better.
As usual, if you have any questions or concerns please drop me a comment and i will get back to you soon.
See you tomorrow for Part 2
Regards
Mornay
Tuesday, August 20, 2013
Welcome
Welcome to the new blog about Property Auctions.
I myself work for a Auction house here in Pinetown Kwa-Zulu Natal South Africa. I have been in the real estate business for a few years as a estate agent. Then i took the big leap and moved overt o property auctions. Since i made this move I haven't looked back.
So, you may be asking why blog on property auctions. Well let me tell you a bit about it. I will over time go through auctioning as well as keep you upto date with what is going on in the property sector.
Property auctions are well under used in South Africa. There is this mith about auctions which says "you have to be in financial trouble to use auctions". or "auctions are only for bank repossessions, liquidations, foreclosers, etc, etc". Well what I have to sayto this is BLAH, BLAH, BLAH.
As mentioned above is true and if you are into property investment going to sherrif auctions to buy repo properties is good way of saving money and making money, its not the only way to auction properties.
In Australia buying property can only be done through auction. The UK is more or less the same. South Africa was following suite until Auction Alliance and their dirty dealing put a bad name to property auctions in South Africa was becoming one of the best ways to sell your property.
Since the Auction Alliance saga, property auctions have started to gain momentum again. More and more people are starting use property auctions as a way to dispose of their properties quickly, easily and even make a profit from the sale.
My aim for this blog is to educate people on property auctions so that you can get a better understanding of the industry and ultamitly get rid of the stigma that has been attached to proeprty auction for far to long. I'll keep you upto date with news and views of the real estate market. I'll keep you posted on upcoming auctions from various auction houses and teach you why auctioning is the way to go.
You are more than welcome to leave a comment or email me with suggestions or if there is a specific topic you would like me to cover.
Come back tomorrow to find out more.
Enjoy
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