- Wed 16 Dec 2020
Have you recently thought about selling your home but wished you had put your property on the market a little earlier in the year to meet the stamp duty deadline? Are you marketing your home at the moment with little or no interest and have lost hope of moving anytime soon? Perhaps you just need or want to move quickly and wanted some advice how best to achieve a quick move?
Earlier in the year, Chancellor Rishi Sunak introduced a stamp duty holiday until 31st March 2021. This meant that all properties £500,000 and under would be stamp duty exempt, you would pay no stamp duty when moving. This in turn caused a huge demand for property, pushing house prices up and stimulated a resilient market place with activity levels the highest they have been for 10 years!
Due to these busy activity levels, solicitors and mortgage lenders have become overwhelmed with work causing delays, meaning the average selling time to now an average of almost 20 weeks. This means if you were to market your property now through the normal format, whilst you may find a buyer you are unlikely to achieve a quick completion and therefore not meet the stamp duty deadline for any onwards purchase. It could also lead to less interest from buyers for your property if buyers think they will not benefit from the stamp duty holiday.
Bradleys have the solution to a fast sale with a completion date before 31st March 2021. There hasn’t been a better time to take advantage of our Online Auction format, a quick, no nonsense sale with a fixed date to sell and move. The average time from marketing launch of your property to completion is between 40-50 days, subject to buyers financial position and ensuring a completed auction pack is available when you launch. This will instantly gain more interest than a standard open market property as buyers are able to save on their stamp duty and in turn resulting in your property obtaining its highest possible value.
We offer your property at an attractive asking price to generate maximum enquiries and drive interest levels up. We advise you where you should set your reserve price, this is the lowest price you would be willing to accept, and once the auction pack is ready launch your property to the market. You can monitor the interest online as our website will record in real time the number of buyers watching your property and the bids made during the marketing process.
Lastly, and most importantly, the winning buyer pays a non-refundable reservation fee to Bradleys upon instructing solicitors this means your sales fees are met by the buyer, not you! Because the buyer is paying a non-refundable fee this is a great incentive for the buyer to exchange contracts and complete on the purchase meaning very little chance of a sale falling through. The only charges you will have to pay would be a set-up fee at the outset of £650 including VAT.
So, as well as meeting the stamp duty deadline for your sale, online auction also offers the following:
For more information on our online auctions and to see our currently running auction properties, see here
If you are considering this method of selling, please visit our valuation page to book your face to face, virtual or instant online valuation: