Selling a House at Auction
Thinking of selling your house or flat at auction? Read our useful guide to selling a property at auction to help you decide if an auction sale suits your circumstances and property type.
There are many misconceptions about selling houses at auction, it’s often thought of as being too complex or risky for the average homeowner. The truth is that auction is an extremely simple way to sell your house. This brief guide is intended to provide those new to the idea of selling at auction with an introduction to the main points.
Last updated by Mark Grantham on 14th January 2017
Costs for selling your house at auction
However, the reserve price does represent a risk; if only one person bids for your house you could end up selling for the reserve price, which would not be an ideal outcome. There are ways to reduce this risk, as experienced auction sellers (e.g. asset managers working on behalf of banks) know very well. Choosing an auction company suited to your property type and location is an important start. Also monitoring the level of interest in the house (number of legal packs downloaded, viewings, registered bidders and offers before the auction) is also important. As a safeguard a good auctioneer will alert a seller to a low level of interest and if need be the house can be withdrawn from auction.
“One of the benefits of selling your house at auction is that you’re not setting an upper limit on the sale price”
Timescales for selling a house at auction
Property types – is your house suited to an auction sale?
Process for selling a house at auction
Choosing an auctioneer for a successful sale
Selling at auction
Find an auctioneer
Need help choosing a local property auctioneer? Call 0800 862 0206 or send us an enquiry online.
Download our guide to selling your home at auction