A Guide to Selling at Auction:
Sellers 10 Steps to Auction Success
If you are thinking about how to sell your home, auction can provide you with an easier, quicker way to sell, and achieve property prices higher than you might expect too. Our handy ten step guide will walk you through all the stages of selling by auction to help you decide to take the next step. We accept all types of property for sale by auction, including residential houses, tenanted homes, commercial property, redevelopment opportunities, land for sale and unique properties. If you have any questions, please contact our teams or fill out an enquiry form. See a list of our upcoming and future property auctions here.
Speak to a member of our Auction House team and provide them with more information about you, your property, and any requirements you may have.
We will then send someone out to give a property valuation and they will advise on the best method of sale.
If your property is suitable for auction (either traditional or online), they will then give you a guide price recommendation and provide any advice you need to help you to decide the way forward.
Congratulations for choosing auction! We will start to prepare all the relevant paperwork needed to sell your property, including Energy Performance Certificate (EPC), searches and any other reports or agreements needed for sale.
We will also work with your solicitor to prepare a legal pack and provide this online for all interested parties to access.
We will provide you with the property details and marketing materials we have prepared for your approval.
When you are happy, that information will be used to create listings on our website, catalogues and other advertising methods.
Don't worry, if any amendments are needed after your approval, we can discuss this with you and late revisions can be notified via an addendum before the auction.
Your property will be listed on major portals and property websites such as Rightmove, Zoopla and others.
We also advertise in selected local papers, and where appropriate, other specialist publications.
In addition, your listing will be sent to our extensive list of interested buyers, including by email marketing, social media and more.
You will also benefit from our multi office marketing through our regional offices, our partner estate agents and other auction websites.
To save troubling you too often, we organise special Open House viewings, allowing all interested buyers to view your property at a range of set times.
A member of the Auction House team will be present to provide information to the viewers, ascertain their level of interest, and provide feedback afterwards.
Your property will be given an auction lot number and will be added into the upcoming auction catalogue.
This catalogue will be sent out to interested parties, those on our mailing list, and added to our website as well.
During our open house events and in our discussions with potential buyers, we will gauge interest in your property so that we can advise on a suitable reserve price.
We will discuss and agree this with you approximately two days before the auction, and this will remain confidential between Auction House and yourself.
Occasionally, we may receive a pre-auction offer for your property that may be higher than what could be achieved at auction. If you wished to accept this offer, it would be subject to the same auction rules and be a conditional sale requiring exchange at least five days prior to the auction.
Before the auction begins, there is time for prospective buyers to ask any questions, to be informed of any final amendments to the catalogue and for everyone to be ready for the start of bidding.
Each lot is described by the auctioneer prior to bids being taken, and if bidding is successful, your property is sold on the fall of the hammer, with contracts being exchanged at this time.
Documentation for the sale is then signed in the room and the buyer pays their deposit.
You do not have to attend the auction, but you may wish to be part of this exciting experience.
After the auction day, your solicitors will handle the remainder of the sales process. We will provide them with the memorandum of sale and the deposit monies (excluding sales costs).
Completion will take place within 28 days after exchange (unless agreed prior to auction otherwise).
All you need to do next is ensure your property is vacant on completion unless it has been sold tenanted, make arrangements for key release and cancel any services in place.
If you've been happy with the service we've offered, then please recommend us to others looking to sell their property and promote the benefits of selling your home by property auctions.
We are also happy to receive reviews and ratings in a range of ways. Please speak with one of the team for more information.