Why Buy at Auction?

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The purchase is completed in a known timescale

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All bidders are on the same level playing field

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The knowledge that you have only paid a small amount more than the next highest bidder

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A missive is concluded on the fall of the hammer

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Bidding is conducted in a public Auction room. You can see who is bidding and how much

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High volumes of similar stock are offered at the same time, an attraction to investors

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If the reserve price is not achieved all is not lost. The vendor may be flexible on price after the Auction providing the sale proceeds on Auction terms

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Occasionally, properties are offered with very competitive guide prices to generate pre-Auction interest. Sometimes bargains are available

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For a useful guide to auction sales and procedures visit www.rics.org