Impact of auctions on value
I am trying to sell a new build flat at the moment, however I am struggling and am thinking about auctioning the flat through http://www.iam-sold.co.uk/, a recent auction website. However I am concerned that if I put the property up for auction at lower than market value starting bid and this does not meet the reserve on the day, then afterwards the property value may decrease. Do you know if this will impact future offers? I also want to know if I had a remortgage valuation after the auction, would they consider this history and therefore give a lower valuation, or would they base it on the normal market value. Am I worrying too much about this? Would you suggest I have better chances with mortgages if I don't auction it first? Would auctioning the property have a permanent effect with Zoopla, etc.. i.e. does the history of marketing it at the starting bid show? Many Thanks, Kindest Regards, Nick
Be the first to answer this question.
Didn't find what you were looking for? Ask a question