Any property can be sold at auction regardless of its condition, and they often achieve a higher price than traditional high street estate agents.
- The property is in need of refurbishment and is in a poor condition?
These properties are often competed for by developers and builders.
- Legal issues and leasehold/freehold issues causing sales problems?
Auction is probably the best place to sell such properties. Before bidders proceed with an auction property, they will familiarise themselves with the legal pack on the property, and be aware of any legal issues. Most investors who buy at auction are experienced with finding solutions to any issues. Whereas through the traditional route with private buyers, sales can fall through.
- Property that has a tenant or is being rented out?
Such property is much sought after through auction by investors and buy-to-let landlords.