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  • Auction Tribe

    Online property Auctions

    My parents are trying to sell a grade 2 listed house in North Devon and considering using an online auction site as traditional agents are struggling to value the property.

    Has anyone got any recommendations for co's that offer this service and experience?

    Thanks

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    Hi Tom,

    Bamboo Auctions might be just what your parents are looking for.  Smile

    Otherwise, get three local agents to value the property, add the three valuations together, and divide by three to get the average.  Use the agent that has achieved the most sales in the area by clicking the "sold STC" filter on Rightmove and/or look for an agent who has sold a similar property recently.

    ​Hope that helps?

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    I think many people are put off by online auctions if not because of the high fees that the buyer ends up paying rather than the seller. I really don't think you'll get a better price that way. I think Vanessa's idea of 3 valuations is a better one.

    Alternatively, find similar properties that have sold (easier said than done I know). It's not an exact science and all it takes is one person to see the potential and to love it.

    Despite knowing my local market really well I find it hard to value my own house because it's unique. How can I, therefore, expect an agent to value it precisely? Even with a more standard house I got agents round and one valued at £400k and another £500k.

    Fortunately, I knew the higher price was right and sold it immediately for the price I asked.

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    Online auction is unlikely to get the best price, as previously said just get an average of agent valuations and put it on at that with the most popular agent with luck you'll get a couple of folk put offers in.  The other alternative is sealed bids in the same way as they do in Scotland
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    Thanks all for the advice, i have said similar to Vanessa to them so will continue and encourage them to market it that way.

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