Consistent Updates on Viewings

We handle all property viewings and keep you informed with regular updates on feedback and interest, so you’ll know exactly what to expect on auction day.

Transparent Pricing

Our pricing model is straightforward and honest, benefiting both buyers and sellers.

Wide Audience Reach

Similar to our open market sales, we advertise your property on leading property portals, including Rightmove, Zoopla, and OnTheMarket.

Auctioning your property is not a last resort. Auctions enable properties to sell quickly, allow you to set a minimum sale price, and ensure a captive audience of serious buyers.

Auctions are becoming an increasingly popular method for property transactions, with over 80% of properties listed being sold on the auction day.

Certain properties are more suited to auctions than others.

Auctions typically attract buyers looking for renovation projects, making them ideal for selling run-down properties.

Unconventional properties also tend to perform well at auction, as they can be challenging to price and market through traditional estate agents.

If you need a swift sale, auctions are a great option. With a captive audience of interested buyers and the property already listed, the chances of finding a buyer on the auction day are high. Most properties sell the first time at auction, so you can be confident in your decision.

Buyers don’t come to auctions unprepared. Your property will be advertised for several weeks before a live auction, or for online auctions, buyers have 30 days to place a bid, increasing your chances of attracting a potential buyer.

Before your property is listed, you’ll need to choose the type of auction that best suits your needs. There are two main options:

The Modern Method of Auction

Also known as a conditional auction, this type is often conducted online.

After a successful bid, buyers pay a non-refundable reservation fee or deposit to secure the property. This payment is immediate and typically a percentage of the sale price or a fixed minimum amount, whichever is greater.

Buyers then have 56 days to complete the transaction, with contracts exchanged within 28 days of the buyer’s solicitor receiving the draft contract. This allows time for the buyer to arrange financing, ensuring the sale proceeds smoothly.

If the sale falls through due to a breach by the vendor, the buyer is refunded.

Traditional Auctions

Traditional auctions, as seen on TV, are live, in-person events that are fast-paced.

Upon winning the bid, buyers pay a 10% deposit of the sale price, and contracts are exchanged immediately. This deposit is non-refundable unless the seller breaches the agreement. Since contracts are exchanged on the auction day, buyers must have financing, such as a mortgage, in place beforehand.

Buyers may also be required to pay an additional buyer’s charge, which varies between auction houses.

It’s common for the seller’s legal representatives to prepare a legal pack for potential bidders, including the memorandum of sale, special conditions of sale, local search, Land Registry search, proof of title, and any lease affecting the property. Some estate agents offer this service when you engage them.

Completion for this method usually takes 28 days.

Once you’ve chosen the auction method that suits you, the next step is to determine the guide price. This range represents the minimum and maximum value of the property, designed to attract buyers.

You can also set a reserve price, which is the minimum amount you are willing to accept. If bids don’t reach this threshold, the property won’t be sold. The reserve price is confidential and typically set lower than the guide price to ensure a sale at a satisfactory amount.

Keep in mind that estate agent fees are based on the sale price, which may influence your decision regarding the guide price and how much you’ll ultimately receive.

Your property will be advertised for several weeks leading up to a live auction and will be available online for viewing during a modern auction.

Before the auction, potential buyers may want to visit your property, so ensure it’s clean and tidy. Highlight the property’s potential and offer ideas for what buyers could do if they purchase it.

It’s also a good idea to attend a property auction yourself to familiarise yourself with the process and know what to expect on the day.

If your property doesn’t sell at auction, it will be withdrawn from sale. However, there are still options available.

Bidders can approach the auctioneer with their best offer, giving you the opportunity to secure a sale. If the offer is above the reserve price but below the guide price, the property can still be sold under standard auction terms. If the offer is below the reserve price, the auctioneer will present it to you for consideration.

If your property doesn’t sell, the only costs you’ll incur are the entry fee and any fees paid for preparing legal documents, if applicable.