John Rohans advice for
those who are wondering whether their property should be
sold at public auction or by private treaty.
In the case of an executors
sale by public auction, there can be no argument as to the
value of the property as it has been established on the
day of the sale. If a number of people are involved and
it is necessary to establish beyond doubt what the market
price is, the best procedure is to advertise the property
for sale by public auction. Serious potential buyers will
be there on the day and will bid for the property. It is
a clear, clean cut, quick process.
The purchaser buying at auction
has to have his finance in place, he has to have a survey
completed and he has to be able to sign an unconditional
contract at the auction so that, from a vendors point
of view, the sale is completed and safe. Auctions concentrate
minds and all involved are anxious to get the matter over
A disadvantage of the auction
system is that if the property fails to sell on the day,
it is very disheartening for the vendor as they feel they
have somehow failed in their advertising campaign. There
is no need for this reaction, the vendors have gone to the
market, they have not been successful on that day, but the
property is usually sold within a couple of weeks of the
Prime residential properties
are particularly suitable for the public auction process.
In the case of a commercial property such as a pub or a
centre city shop, public auction is the only prudent way
to sell. At present, because of the Bacon Report recommendations,
the residential market is not attractive to most investors,
who are now forming consortia and buying commercial businesses.
10 top tips for selling your
Keep the front of your house tidy. Keep your driveway
and gates open and leave room to park.
At night, keep a warm welcoming porch or hall light
on. Make sure the house number or name can be seen and
that the bell works. Have a fire lighting.
Pets should neither be seen nor heard. Keep them quiet
or out of the house if possible.
up peeling wallpaper and damaged paintwork, but full
redecoration is unnecessary. Clean windows, replace
missing lightbulbs, fix that dripping tap.
tip the scales more than any room. Present a well ordered
kitchen with neat, clean cupboards. Have a coffee /
baking aroma present.
A bright bathroom also helps sales, so keep it clean
and tidy. No damp towels or discoloured baths.
Keep all bedrooms tidy. They'll look more spacious.
Rumpled duvets and washing on the floor make rooms look
smaller than they are.
the full value of storage space by keeping cupboards,
basements and attics tidy. Throw out unwanted rubbish
- you'll be doing that anyway when you move.
Music or TV is a turn-off when showing people around.
forget conversation - be courteous, point out features
of each room, but let the buyer view at their own pace.
Don't have too many people present - buyers often feel
like intruders and wish to respect your privacy.