Can you sell a house at auction in Cumbre del Sol?

by | Practical advices

Ever thought about selling your house in Cumbre del Sol in a different way?

What do you think about selling at auction?

This article gives you a rundown of everything you need to know about the property auction market and how this compares with the traditional way of selling.

At Cumbre del Sol, a coastal community undergoing constant growth, these options are the key to selling your property.

sell a house at auction in Cumbre del Sol

Selling a house at auction in Cumbre del Sol

Selling a property in Cumbre del Sol, a location that’s all the rage, should have no shortage of interested buyers. So,property auctions have become increasingly popular in recent years.

The auctions are run by specialised auction houses or estate agents, where interested buyers​put in competing bids to see who gets their hands on the property. The seller sets a reserve price and whoever puts in the highest bid gets their hands on the property. This process can be over and done with quickly and can be a good way to do business, especially if you’re an investor.

Requirements to sell a house at auction

If you’re interested, there are some requirements to comply with:

  1. Property valuation. First things first, your property needs to be properly valued to ascertain its market value. An estate agent in Cumbre del Sol that knows the area inside out can help you set the reserve price.
  2. Choose the auction house or estate agent. Go for one you’re comfortable working with, as well as one that has extensive experience in property auctions in the area. It’ll give you the peace of mind that the process will be carried out efficiently and professionally.
  3. Reserve price. This is the minimum price you would be willing to sell your property for. This amount is confidential and is kept secret during the auction.
  4. Advertising and promotion. Promoting your property is of the utmost importance. The auction house or estate agent will be responsible for spreading the word about the auction and attracting potential buyers.
  5. Date and time. Potential buyerswill show up to bid for your property.

Traditional selling method

This is the most common way to sell. The seller sets an asking price and works with an estate agent to find a buyer. Take note of the following:

  • Fixed price. In the conventional method, the asking price is set in advance, and is at the heart of negotiations.
  • Longer process. The sale process can take longer compared to an auction, as it entails lots of back and forth between the seller and the buyer.
  • Less uncertainty. In this case, the seller has greater control over the final selling price, as he/she can accept or reject offers as he/she deems fit.
  • Less competition. Unlike auctions, where buyers actively compete against each other by bidding, the traditional method has less competition between buyers.

Selling property in Cumbre del Sol with an estate agent

An alternative to the traditional method is working with an estate agent. Estate agents have in-depth knowledge of the local market, taking the headache out of selling your home. Some of the advantages are as follows:

  • Experience in the local market. Estate agents understand the market and local trends, which is the key to setting a competitive asking price.
  • Network of contacts. They have an extensive network in the area to boost your chances of finding a buyer.
  • Professional advice. They offer you priceless advice on how to make your property look attractive as well as marketing strategies.
  • Expert negotiators. Estate agents are skilled negotiators, which can lead to a better selling price.

The importance of professional advice

Whether you go down the auction route or opt for the traditional method, the key lies in working with professionals. An estate agent or auction house can help you wade your way through the selling process, from the property evaluation right through to spreading the word and handling negotiations. Their experience and knowledge are invaluable when it comes to ensuring that you get the best possible deal.

At Cumbre del Sol, with its dynamic and competitive property market, turning to experts is a smart move. Opting for one method over another comes down to your personal needs and preferences. However, whatever route you choose to go down, you’ll be well looked after.

Selling a property is a significant and emotional move. Whether through an auction or in the traditional way, there are upsides and downsides, so it really boils down to your specific circumstances. So whatever way you go about it, the key to success lies in preparation, professional advice and being aware of the options open to you.

You might be attracted by the excitement of an auction or prefer the security of a fixed price by going down the traditional route. Whatever you choose, remember that selling a house in Cumbre del Sol will always be an amazing opportunity. Call us if you need some advice!