In recent years, the Auctions market has strengthened its position as a viable route for the disposal and acquisition of property. Some of the advantages are discussed below.

Selling Price
Selling by auction is the best way to ensure that properties are bought and sold at prices which are fair and reflect their market value as the process provides competition between buyers.

Timescale
Sale by auction provides legally binding fixed timescale for exchange of contracts and payment. In Option 1 the fall of the hammer indicates exchange of contracts and the purchaser usually has to complete 28 days afterwards. In Option 2 the buyer has 28 days after the fall of the hammer to exchange contracts.

Control
The Vendor keeps control of the sale by the use of special conditions of auction and the reserve price. In Option 1 nothing is left to chance after the fall of the hammer.

Serious Buyers
Auction attracts serious buyers and property professionals. A commitment is made in both Options 1 and 2 that a casual buyer would be unlikely to make. In both cases a financial payment has to be made after the auction.

Maximum Exposure
With a concentrated marketing period including Press Advertising, Auction Catalogues, Auctions North East website AND 46 Alliance member branches and web sites, your Auction Lot is sure to reach it’s target market.