Benefits of Selling Your Property With a Real Estate Auction

Selling a property in a real estate auction helps to accelerate the sale of your home beyond choosing the traditional methods of listing it on the market. Choosing to sell your property in an auction is an intense and highly competitive system that enables the public sale of any real estate in Malta and Gozo, in any condition, in a minimum time period.

Many people may not understand the benefits of selling their home “under the hammer”. Why not sell a property through an open agency where you will have several agents viewing the home? What benefits would make me understand the advantages of listing your property for sale in Malta or Gozo on an auction agreement?

Below is a breakdown of the benefits one should expect when taking the leap and taking advantage of this fairly new method of selling.

Why sell your property via auction?

To auction or not? Here are some reasons to sell your property via auction.

Your property in Malta will be offered to a group of pre-qualified individuals who are all ready and willing to make a purchase.
It will be a quick and hassle-free sale.
You are assured your property will be sold at least at its true market value.
The added element of competition between buyers may increase the sale price of the property.
The process reduces long-term maintenance costs of your property through instant sale.
There’s a guaranteed timeframe for the sale.
It ensures your property is included in an intensive marketing scheme that boosts visibility and interest in Maltese press and media, social media, foreign and local magazines and in-flight magazines, for example.
There’s no hassle normally associated with numerous house viewings of various parties, who may not be serious buyers.
As the seller, you need not be involved in the negotiation process.
All potential buyers must pre-qualify for financing, so no disappointments following an offer, and full buyer commitment following the sale.
Your property is also pre-qualified to ensure an unencumbered sale.

Learn more about the process of selling your property at an auction.

Why should you buy a property at an auction?

On the other hand, here are some reasons to purchase a property in Malta or Gozo at an auction.

You are assured that all properties offered at the auction have been committed to sale by the seller.
There’s the convenience of being able to view multiple properties in the same place at the same time.
All potential buyers receive transparent information regarding each property, so no blind purchasing.
The bids by the group of buyers determine the final purchase price, not the seller or estate agent.
There are no long negotiation periods associated with more traditional methods of a real estate sale.
Competitive bidding means properties are usually purchased at market value.
The time it takes to purchase the property is significantly reduced.
Purchase and closure dates are known and agreed upon by all parties.
There’s an equal and fair market amongst all potential buyers.

Sell an auction property

The average time period to sell an auction property is approximately 45 – 70 days, a period that is far less than an open agency which in many cases can be way over 180 days (6 months). If you are motivated to sell your property, you want to do away with the anxiety that goes with waiting for a buyer to reach your doors, make an offer, bring an architect and hope the sale will come through. An auction house takes care of the necessary errands and checks that are required to ensure that a sale will go through without the added stress, leaving you with the convenience of only showing up to sign the Konvenju.

In conclusion, both the seller and the buyer benefit through a property auction creating a win-win situation. It is important that you always check out the latest upcoming auctions available in your area. The list of auction properties for sale in Malta or Gozo will usually range from one/to two-bedroom apartments to 5-star luxury Villas with a pool so there is a great chance you will find a suitable home. Read more about the hallmarks of a good auction property.