When you’re thinking of selling your house at auction, we’ll give you a clear understanding of how property auctions work.
There are eight simple steps to sell a property at auction.
Property valuation – contact us for a free valuation, where we can advise on the value and the best way to sell your property, either by unconditional auction or conditional auction.
Reserve price – we will agree on a confidential reserve price with you, which is the minimum the property can be sold for.
Marketing – using modern marketing techniques, including virtual tours, we will generate as much interest as possible before auction day.
Legal pack – your solicitor will need to prepare a legal pack for your property, which interested buyers can inspect before they bid at auction.
Viewings - our local experts show potential buyers the property.
Auction day – our online auctions take place every month. Watch the bids live from wherever you are at the time!
Contract exchange – when the reserve price is met or exceeded, contracts are exchanged with the highest bidder when the auction ends, and you’ve sold your property. The buyer signs the sale memorandum and pays a 10% non-returnable deposit.
Completion – success! Completion typically takes 4 to 6 weeks after the auction. This is when you’ll receive the balance of the sold price.
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Once you understand how property auctions work, you can request a free valuation with our expert team. Need more advice? Let’s talk.
