Selling property through auction

[Clippy]

Did not get much sleep in the last few days

Voices in your head keeping you awake again?

[bogeyman]

Did not get much sleep in the last few days

Well, chill out and get your head down old fella.

I know what it's like.

I generally resort to copious amounts of Guinness, but that has attendant problems.

[AtW]

Hmm. So angry

Did not get much sleep in the last few days

[bogeyman]

Oh yes, made mistake (here see I admit it!) - should have used euro sign.

Hmm. So angry

[DiscoStu]

So that's fifty pound-euros then?

God, you are total cock sometimes AtW.

[AtW]

So that's fifty pound-euros then?

Oh yes, made mistake (here see I admit it!) - should have used euro sign.

[milanbenes]

oh dear

I guess this cheshire cat is not grinning like a ...


Milan.

[bogeyman]

:£50k euros...

So that's fifty pound-euros then?

God, you are total cock sometimes AtW.

[Cheshire Cat]

I sold through Barnard Marcus once - I think it was 10% but can't remember.

Took about 8 weeks.

No other costs.

Thanks.
Did that 10% (or whatever) include legal costs? i.e. was it a total price?

[AtW]

I think I'll go the conventional sales route until Easter 2012, probably.

Those Olympic games are expected to drive up demand as wealthy foreigners move in to take advantage of the weak UK property market, average project house price in the UK at the time will be £50k euros...

[bogeyman]

Am considering selling Bogey Towers by auction now.

However, my estate agent advises a reserve of about 30% below the open market price.

Gulp

I think I'll go the conventional sales route until Easter, probably.

[BrilloPad]

Does anyone have personal experience of selling a property through an auction?
If so, what % did you pay the auctioneer? And how quickly, typically, can you offload the property, from approaching the auctioneer, to funds in the bank?
Any specific taxes or costs, other than the usual ones for selling a house, incurred by using an auctioneer?

I sold through Barnard Marcus once - I think it was 10% but can't remember.

Took about 8 weeks.

No other costs.

[Cheshire Cat]

Does anyone have personal experience of selling a property through an auction?
If so, what % did you pay the auctioneer? And how quickly, typically, can you offload the property, from approaching the auctioneer, to funds in the bank?
Any specific taxes or costs, other than the usual ones for selling a house, incurred by using an auctioneer?