Scott Gray

Property auctioneer Scott Gray, who has appeared on BBC's Homes Under the Hammer, writes for the Journal

Property auctioneer Scott Gray, who has appeared on BBC's Homes Under the Hammer, writes for the Journal.

With energy prices already on the rise and current devasting factors playing a role in this being impacted further, not a day goes by without a conversation with a colleague or client which doesn’t touch upon the rise in the cost of living to date and future rises that will affect us all. Reports state figures of outstanding rises to our fuel and energy costs and it's difficult to comprehend how households will cope with these increases. Perhaps you are considering home improvements to support the rise in costs: insulation, smart meters, solar panels or better windows to curb the increasing bills. Speaking with some clients, those with investments or families looking to downsize to cut their annual outgoings, some are looking to sell, and I get many questions regarding the benefits of selling up using the method of online auction. As such, I thought I would touch on some FAQs to revisit how an online auction can provide a safe, speedy and secure method of sale for a property (or land) with no chain. So, what are the benefits? No need to wait to sell comes out top, the ability to set the date the timer ends. Selling via online auction gives you the flexibility of choosing a point in time that suits you and will therefore give certainty that the selling process will have completed when you want it to. Exchange takes place at the fall of the hammer. Therefore, once your buyer has committed there is a certainty from that moment, unlike the traditional Estate Agency route where buyers can decide to walk away some way into the process meaning lost fees and time for all. You also set your reserve price – meaning a bidder can’t buy your property for less than you would like to sell it for. The process of selling via Auction provides security as we are legally bound to verify buyers before they can bid. Ensure you have your solicitor organised from the beginning to make sure the legal side runs smoothly whilst the timer ticks away. Good auction houses will promote their lots via the well-known property portals but also have a database of ready to go Investors – so there is a widespread of buyers out there seeing your property, many motivated cash buyers. Online auction is fast, certain and most importantly it is completely safe and secure for both sellers and buyers alike. Please do call if you have any questions.

It's March already, we are well into the start of the year with the evenings starting to get lighter and signs of spring incoming. The year has started off with a buzz of energy around the property market. With buyer demand still outstripping supply, we are seeing the much-needed movement of homeowners getting their ducks in a row to go to market in the Spring. Much needed as we still have high numbers of ready to go buyers registered who haven’t yet been able to find their onward purchase. My service offering appraisals to property and landowners reviewing their options whilst considering a sale is keeping me out and about on our West Country roads. With a recent expansion of my team, we are working hard to support our partner agencies and private clients, with a flurry of new listings on our books and more coming in. Clients often feel they should wait until they are fully sale-ready to invite an agent into their home to provide an appraisal. One thing I would say is to speak to your local agent before you get to this point – find out their advice first on what will add value and what potential buyers to your home will be looking for. Some items on your to-do list might not be worth doing, spending extra time and money when you could already be ahead of the competition and on the market. If you are looking to buy, have you registered with the local agencies in the area you are hoping to buy? It is always worth signing up to receive details directly from the agent and engaging with their social media, as you are likely to have the opportunity to view details of new properties before they hit the major property portals. We have a varied selection of listings soon to go under the virtual hammer, with Guide Prices starting from £65,000 there are still affordable properties out there in the Southwest and searching via a property auction provider is often a good way to find it.

I originally launched my weekly online property auction business, 247 Property Auctions, to make property auctions more accessible. It was pre-pandemic, so I didn’t know at that point that the ballroom style auction was about to come to an abrupt pause. Providing the modern online auction format means there is no need for sellers to wait for a set date, Lots can be sold any time and any day of the week. A wider audience can be reached and there is no requirement for buyers to travel to a location to bid. Whilst auction, as a means to sell property, items, art, animals or land has been part of our history for many generations – sellers can still be reluctant to use it as a method of sale. There’s still an element of the unknown for many people more used to going down the traditional sales route to sell their home or land. Reports show that from UK total house sales only a small percentage is sold via auction. The great news is the popularity and knowledge around online property auctions is increasing and as a means of sale or purchase, it is a method that is seeing growth. I may be biased, but I can tell you there are many benefits to selling a property via auction. If it’s the right type of property you could see yourself acquiring a sales price much higher than the guide price. The time between listing and exchange (depending on the type of auction) can be as little as three weeks, meaning that once the virtual gavel has fallen deposits must be paid and a secure and speedy process is underway. As a purchaser, particularly if you are investing in a property to renovate, you have the benefit of getting your hands on the keys more quickly and getting ready to start works or move in. Legal documents and survey details are provided upfront and viewed before the auction, so it makes for a swifter process. Many people have questions regarding the auction process which I am always happy to answer.

I originally launched my weekly online property auction business, 247 Property Auctions, to make property auctions more accessible. It was pre-pandemic, so I didn’t know at that point that the ballroom style auction was about to come to an abrupt pause. Providing the modern online auction format means there is no need for sellers to wait for a set date, Lots can be sold any time and any day of the week. A wider audience can be reached and there is no requirement for buyers to travel to a location to bid. Whilst auction, as a means to sell property, items, art, animals or land has been part of our history for many generations – sellers can still be reluctant to use it as a method of sale. There’s still an element of the unknown for many people more used to going down the traditional sales route to sell their home or land. Reports show that from UK total house sales only a small percentage is sold via auction. The great news is the popularity and knowledge around online property auctions is increasing and as a means of sale or purchase, it is a method that is seeing growth. I may be biased, but I can tell you there are many benefits to selling a property via auction. If it’s the right type of property you could see yourself acquiring a sales price much higher than the guide price. The time between listing and exchange (depending on the type of auction) can be as little as three weeks, meaning that once the virtual gavel has fallen deposits must be paid and a secure and speedy process is underway. As a purchaser, particularly if you are investing in a property to renovate, you have the benefit of getting your hands on the keys more quickly and getting ready to start works or move in. Legal documents and survey details are provided upfront and viewed before the auction, so it makes for a swifter process. Many people have questions regarding the auction process which I am always happy to answer.

I originally launched my weekly online property auction business, 247 Property Auctions, to make property auctions more accessible. It was pre-pandemic, so I didn’t know at that point that the ballroom style auction was about to come to an abrupt pause. Providing the modern online auction format means there is no need for sellers to wait for a set date, Lots can be sold any time and any day of the week. A wider audience can be reached and there is no requirement for buyers to travel to a location to bid. Whilst auction, as a means to sell property, items, art, animals or land has been part of our history for many generations – sellers can still be reluctant to use it as a method of sale. There’s still an element of the unknown for many people more used to going down the traditional sales route to sell their home or land. Reports show that from UK total house sales only a small percentage is sold via auction. The great news is the popularity and knowledge around online property auctions is increasing and as a means of sale or purchase, it is a method that is seeing growth. I may be biased, but I can tell you there are many benefits to selling a property via auction. If it’s the right type of property you could see yourself acquiring a sales price much higher than the guide price. The time between listing and exchange (depending on the type of auction) can be as little as three weeks, meaning that once the virtual gavel has fallen deposits must be paid and a secure and speedy process is underway. As a purchaser, particularly if you are investing in a property to renovate, you have the benefit of getting your hands on the keys more quickly and getting ready to start works or move in. Legal documents and survey details are provided upfront and viewed before the auction, so it makes for a swifter process. Many people have questions regarding the auction process which I am always happy to answer.

I originally launched my weekly online property auction business, 247 Property Auctions, to make property auctions more accessible.

A belated Happy New Year! I hope you managed to have an enjoyable festive break, I am aware that for some the festive and New Year period might not have been all that you had hoped – I know many of us were unable to carry out plans as we had hoped due to restrictions or isolating friends and families. So, it’s with a fresh start and high hopes we head into the New Year. It’s that time where many make New year’s resolutions and create plans for the year ahead. Perhaps plans for a lifestyle change or family choices – perhaps an engagement over Christmas, plans to marry and move in together or plans to retire and downsize. Has spending time away over the holidays helped you reflect on where you are and how you live? Or spending time with extended family prompted the drive to move closer? Looking ahead I know many are worried about the cost of living, report widely in the media. It’s a hard one not to think about, especially during these cold January days. Is a move to a more modern property or plans to improve your own property to support changes in the plan? If a move is on the cards, I can let you know buyer demand is still very strong in the South West – as the property industry continues to see this peak in registered buyers ready to move. As we continue through January and February many potential sellers are getting ready to put houses on the market ahead of the Spring. If you are looking to move, requesting an auction or market appraisal from your local agent now will allow them time to consider options ahead of others, where we typically see a rush in March/April time with people wanting to book in. I am also aware that this winter period may not be the happiest for all. If you have experienced the passing of a loved one and are handling the estate, you may have a mountain to climb to process all that is happening. If you need help or support with any property issues in the year ahead please do not hesitate to ask for help.

A belated Happy New Year! I hope you managed to have an enjoyable festive break, I am aware that for some the festive and New Year period might not have been all that you had hoped – I know many of us were unable to carry out plans as we had hoped due to restrictions or isolating friends and families. So, it’s with a fresh start and high hopes we head into the New Year. It’s that time where many make New year’s resolutions and create plans for the year ahead. Perhaps plans for a lifestyle change or family choices – perhaps an engagement over Christmas, plans to marry and move in together or plans to retire and downsize. Has spending time away over the holidays helped you reflect on where you are and how you live? Or spending time with extended family prompted the drive to move closer? Looking ahead I know many are worried about the cost of living, report widely in the media. It’s a hard one not to think about, especially during these cold January days. Is a move to a more modern property or plans to improve your own property to support changes in the plan? If a move is on the cards, I can let you know buyer demand is still very strong in the South West – as the property industry continues to see this peak in registered buyers ready to move. As we continue through January and February many potential sellers are getting ready to put houses on the market ahead of the Spring. If you are looking to move, requesting an auction or market appraisal from your local agent now will allow them time to consider options ahead of others, where we typically see a rush in March/April time with people wanting to book in. I am also aware that this winter period may not be the happiest for all. If you have experienced the passing of a loved one and are handling the estate, you may have a mountain to climb to process all that is happening. If you need help or support with any property issues in the year ahead please do not hesitate to ask for help.