If you’re a charity legacy manager, you’ll know that dealing with inherited properties can often feel more like managing liabilities than legacies. Often, these properties come with overgrown gardens, outdated interiors, and a list of repairs that might overwhelm anyone, let alone an organisation with limited resources, time and perhaps even influence. Where you do have a say but perhaps not full control, it’s definitely worth relaying this message to executors.
When selling through the traditional market, you’re looking at an average 27-week process from start to finish, with much of that time dedicated to renovations, surveys, negotiations, and long, drawn-out legals. This all too often delays critical funds that your charity relies on to keep moving forward.
Here’s the reality: today’s property market is unpredictable. Properties that seem ideal for auctions are often either dismissed by traditional estate agents as too “challenging” and may languish in a window, or they’re traded out quickly at a discount to a ‘friendly’ investor for their profit, you guessed it, at a later auction.
But where others see a mess, we see opportunity. Auctions provide a lifeline here, allowing you to skip the hassle of repairs and sell the property exactly as it stands – no paintbrushes or lawnmowers needed. Buyers at auction are a special breed; they’re not deterred by a little wear and tear. In fact, they seek it out, seeing potential instead of problems.
Traditional sales come with a lot of “what ifs.” What if the buyer backs out? What if surveys uncover something costly? What if negotiations drive down the price you hoped to secure? The odds are rough – of c. 1.26 million UK homes that left estate agents’ books since 1st January, only 53% exchanged and completed contracts, meaning 47% were withdrawn from the market unsold. In essence, it’s literally a flip-of-the-coin chance of actually selling and beneficiaries getting paid.
Auctions remove that uncertainty. As a traditional auction, once the hammer falls, contracts are exchanged immediately. No waiting, no last-minute negotiations, no risk of the deal collapsing. That’s security for you and your charity.
An added bonus? The fees fall on the buyer, not the estate. There’s no stress over paying out of pocket for agents or listing fees. Every pound from the auction heads straight to your charity’s work, as it should.
Imagine this: an inherited property, tired and overgrown, sells at auction. The funds arrive in weeks, not months, and they’re fully available for your charity’s mission; no lengthy renovations, no frustrating delays – just a fast, reliable, transparent route to converting these assets into impactful cash flow.
We’re here to help you streamline the journey from gift to funds in a way that’s simple, straightforward and tailored to legacy managers like you. Because when you’re handling the generosity of a donor’s final gift, you shouldn’t have to compromise. Auctions offer you the peace of mind to honour their legacy effectively, ensuring every penny goes exactly where it’s needed most.
