Selling a property at auction

[RosieLeaLovesTea]

Has anyone got any experience of selling a property at auction? What are the pros and cons ?
what do I need to be aware of?
do you have to pay fees to list even it is does not sell?
basicallly a relative has died. And there is a property to sell which is in a seaside town- an old B&B which is quite run down.
I think it is going to be really difficult to sell on the open market.
So I think auction may be the way to go.

Cons- you’ll put a lot of buyers off, especially those with mortgages.

A perfect home came up near us recently but it’s auction and as a buyer I’d get hit with a lot of additional fees and have to put down a large non-refundable deposit before I’ve had a surveyor in. There’s a selling pack, but I’m not trusting someone else’s surveyor. No way am I risking £50k like that.

If it’s run down and going to fetch a low price then auction isn’t a bad idea as you’re more likely to attract investors who will flip it.

What is the market like in the area? Imagine you were looking to buy that size property in the area - how much is there that’s been sitting for ages?

I’ve only ever bought at Auction
If you decide to go down this route you can include your legal fees to be paid by the seller

You need to include searches etc in the legal pack to aid the quick turnaround.