I was looking at some items for sale on a well known online auction website today. I was surprised to see that you can aquire commercial property and even serviced office space on the site.
With most estate agents charging at least one percent plus VAT to sell your home, a lot of people are looking to the internet in the hunt for an effective, but far less expensive way of finding a buyer.
Other internet based estate agents will charge for the marketing of your property and they use key property portals, such as movehut.co.uk to find buyers for you. The benefit of these internet based estate agents, is that the charges are the same regardless of the value of your property, so it could only cost £467.65 to sell a £1,000,000 house.
Selling on Ebay is far cheaper, though you don’t get the advantage of marketing on the main destinations for buyers looking for property.
Ebay will only charge an insertion fee of £35 plus an additional £2 fee for setting a reserve price. So for a total of £37 you can advertise your property to the millions of users. By setting a long enough auction, potential buyers can visit the property and even get it surveyed.
If the seller had prepared a pack, showing local authority searches and ownership particulars, this could be a real advantage to bidders who haven’t got time to carry out these searches themselves.
What a lot of people don’t appreciate is that online auction websites do not charge property sellers a final value fee, so in fact it can be cheaper to sell your home costing hundreds of thousands of pounds than, say, a car or expensive luxury item.
Don’t make a mistake and place your house or commercial property advert on an auction website without a reserve price though, as you would be legally bound to sell your house for £1 if that was the highest bid.
It is not just houses and commercial property that you can find on auction websites. Other property items such as plans for self build houses and land for sale can also be found.
It is amusing though when you see the sellers struggle with delivery options – ‘pick up only’ seems the favoured description.
So if you are selling a house and the estate agents fees don’t appeal, then you might find that vital buyer at an auction online. Though be aware, you still need to abide by the legal aspects of property sales, but it could save you a fortune.
A current alternative to advertising your property on auction websites, would be to use movehut.
Movehut are currently offering a two month FREE trial period. There are no hidden costs and if you are not satisfied by the end of the trial period, you can walk away. There really is nothing to lose.
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