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AuctionYourProperty.com Compared
AuctionYourProperty.com's Auction Service v Using an Estate Agent (Private Treaty)
AuctionYourProperty.com |
Estate Agent |
The price could easily exceed the seller's expectations. It is an open market with no fixed price being offered. |
With private treaty, the price is set in advance and therefore the true value may not be achieved. |
Auctions generate much more interest, exposure and most importantly a sense of urgency amongst potential buyers because the date of the auction is the day of the sale. Therefore sales are much quicker. |
There are no time constraints so the sale will almost certainly take longer than necessary to go through. Either party can delay the proceedings. |
Once the auction is complete the winning bidder exchanges contracts immediately and will have to put down a 10% non-refundable deposit. |
Buyers frequently retract offers and pull out of sales, often causing a lot of distress and expense to the seller. |
Auctions target a far bigger audience as the marketing is generally nationwide. |
Estate agents tend to just advertise locally, therefore there are fewer people who know that your property is for sale. |
Buyers and sellers have full control and can discuss issues between themselves. |
Buyers and sellers are kept apart. The estate agent has full control and all discussions have to go through them often wasting a lot of time as messages are passed back and forth. |
We do not charge any commission. We just charge a listing fee of £250. |
Fees usually range from 1.5% up to 3%. |
The Difference in Fees
Your Property Sale Price |
Estate Agent's Commission (2%) |
VAT at 20% |
Total Fee to Estate Agent |
Total Fee to AYP |
Saving |
£100,000 | £2,000 | £400 | £2,400 | £250 | £2,150 | £300,000 | £6,000 | £1,200 | £7,200 | £250 | £6,950 | £500,000 | £10,000 | £2,000 | £12,000 | £250 | £11,750 |
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