Written by: Will Thompson on 3rd November 2022
If you’re hoping to buy or sell a property in time for Christmas 2022, online property auctions are undoubtedly the best option.
Online auctions are the quickest way to buy and sell a property. Unlike the private treaty (estate agency) process, there’s no waiting around for feedback, solicitors or surveys before contracts can exchange. In fact, if you tried to buy or sell a home in November this way, it’s highly unlikely the sale would complete before 2022.
So, how can buying or selling through Pugh Auctions help you complete your sale in time for Christmas? In this article, we’ll explain why online property auctions are the fastest route to buying or selling, how we make it possible, and show you where to find November and December auction dates - so you can get moving in time for the festive season.
When you sell a home through online property auction, you bypass one of the most common delays of the selling process: conveyancing.
On average, the legal process of selling a property takes between three and four months through an estate agency. Considering the time it could take to receive an acceptable offer, or if you’re part of a chain, your sale would be highly unlikely to complete before the new year.
However, when you sell with Pugh, your solicitors will provide a legal pack before the auction date - not post-offer. Contracts are legally exchanged on the fall of the virtual hammer, and there’s no need to wait for surveys or conveyancing. Once a winning bid is received, the buyer is legally obligated to purchase your property, so there are no risks of further negotiations or changes of heart delaying your sale.
Typically, sales via online property auctions complete within 28 days. So if you’re hoping to sell your home by Christmas 2022, successfully selling at auction in November would secure a pre-Christmas sale.
Hoping to sell before Christmas? Submit your property for a November auction date here.
If you’re looking to purchase a property before Christmas, online auction is the fastest way to do it. There’s no risk of a seller withdrawing their property from the market before completion, no risk of gazumping from competing buyers, and the keys will be in your hand within 28 days of placing your winning bid.
As we spoke about earlier, buying at auction means you don’t have to wait for a lengthy legal process after contracts exchange. If your offer is accepted on a property sold via an estate agency this month, you probably won’t be its new legal owner until 2023.
Be cautious before placing a bid for a property at auction, though. As soon as your winning bid is received and the auction ends, contracts are legally exchanged, and you’re legally obligated to buy it.
Fortunately, auctions are fully transparent, too. You and your solicitor can peruse the property’s legal pack before the auction date, helping you to make an informed decision to bid without any nasty surprises appearing in a survey later down the line. You’ll also see all competing bids as they’re placed, so you can be sure you’re paying in line with others’ thoughts on the property’s value.
Buying or selling a property in time for Christmas 2022 is absolutely possible with online property auctions. You don’t need to travel to a specific location during the lead-up to the festive period - simply bid from the comfort of your own home using your chosen device. Online property auctions are the fastest and most convenient way to buy or sell a property, and you could be in your new home in time for Santa’s visit!
If you’re hoping to buy or sell a property at auction, take a look at our upcoming November and December auction dates to take part. For more information, contact us directly on 0345 505 1200.
Written by: Will Thompson on 3rd November 2022
Will is an auction surveyor at Pugh & Co, representing a wide range of vendors, including local authorities, charities, and corporate and private clients, on the disposal of all types of property and land. Will can provide advice on the value and disposal strategies of residential, commercial, and industrial properties/portfolios, as well as sites with development potential. He holds an MSc in Real Estate and is a member of the National Association of Valuers and Auctioneers.
