Selling our house - Auction?

[insom]

Hi,

We are trying to sell our house in North Riding. But there doesn't seem to be much hope at the moment. Very few viewers, and no offers at all.

Someone suggested we try to auction the house.

Has anyone ever sold this way?

Are there any catches they don't tell you about?

Should we run away from auctions?

Obviously talking to the auction people, its the bestest best of the best way to sell anything ever.

And Googling it seems to return "where to find houses to buy on auction", or "here is a house to buy on auction".

Thanks!

 

[Hemi300c]

You'll lose big time on auction.

Is it priced right and in good condition etc.

 

[insom]

You'll lose big time on auction.

Is it priced right and in good condition etc.

Thanks for the reply.

Why would we expect a loss? Surely we just put a reserve price, and if it doesn't get there, all we loose is the fees?

We think the agents have priced it too high, but surely people who want to buy in the area would just put in lower offers?

 

[Pho3nix]

Price or link? Saw a bunch of places in that area and can tell you if overpriced

 

[Lupus]

Links to the property, I saw a few houses there a few months ago, there was one in Northriding that had been on the market for sometime and is still on the market. Pricing is key, for some reason people are putting their 320 sqm properties up for R1.2 and no one biting, especially if the garden wall is falling over, you've got massive cracks in your inside walls and and.

 

[insom]

Hi,

Thanks for the feedback.

We put up a listing ourselves as well. We +- took the agents fees off their price: Our listing

It is not perfect, but its not falling down either.

 

[Lupus]

How long have you had it at that price? As it seems the pricing has gone up from about 1.2 last year to 1.4 upwards for other units. Further up towards Northgate there were 320sqm cluster homes going for 1.2 million a little bigger for a little less, just saying.