How to Sell Your House at Auction
- Cost effective
No upfront fee & sell for free options - Quick
Sell your home by auction in 28 days - Secure & reliable
Legally binding sale on auction day - Fair & transparent
Sold to the highest bidder
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Selling by auction is quick and easy. Request a no-obligation auction sale estimate for your house or flat.
- ✔ Reliable
- ✔ Fast
- ✔ Secure
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How to Sell Your House at Auction – Quick 7 Step Guide
Selling a house at auction can be a fast, transparent, and highly effective way to achieve a successful sale – often with results that exceed expectations. Whether you’re drawn to the certainty of a legally binding sale, the competitive nature of open bidding, or simply the speed of the process, auction offers a compelling alternative to a traditional estate agency sale.
This quick guide walks you through the seven key stages of selling a property at auction, from checking whether auction is the right route for you, right through to completion day when the sale proceeds land in your bank account. It’s designed to give you a clear, straightforward overview of what to expect at each stage – without getting lost in the detail.
It’s also worth knowing that auction isn’t just for unusual or hard-to-sell properties. All types of residential and commercial property can be sold at auction – and many sellers are surprised by just how smooth and straightforward the process can be.
The seven stages are:
- Check if auction is right for you
- Agree a reserve price
- Instruct the auction company
- Preparation – marketing, viewings, and legal pack
- Review interest and pre-auction offers
- Auction day
- Completion
Please note, this quick “how to” guide is intended as a brief summary only. For a thorough and detailed walkthrough please read our comprehensive guide to selling a house at auction including guidance on choosing an auctioneer, understanding reserve prices, the different auction formats available.
If you’re just dipping your toe in the water, you can request a free, no-obligation auction sale estimate at any time. It’s a simple way to get an idea of pricing before you decide whether auction is the right route for you.
STAGE 1
Is auction suitable for you?
Auction suits most properties, but not everyone’s circumstances. The key question is whether you’re a chain-free seller. If you’re not currently living in the property, there’s a good chance you qualify – and this is definitely the case if it’s vacant. Even if it’s tenanted, you’re still likely to be chain-free, as the tenancy can typically be transferred to the new owner upon completion.
It’s also worth knowing that auction sales typically complete within 4 to 8 weeks of the auction date – so you’ll need to be ready to move at pace once the hammer falls.
STAGE 2
Agree a reserve price
The reserve price is the minimum your property can sell for at auction – and you’ll need to agree this with the auctioneer before it’s listed.
Unlike an estate agent’s asking price, the reserve needs to be realistic. Reputable auctioneers aren’t in the business of inflating figures to win your instruction – they need to price your property to sell. It’s typically set below market value to encourage competitive bidding and drive the final price higher on the day. Once agreed, the reserve cannot be reduced without your consent, so you’re always protected against an unwanted outcome.
STAGE 3
Instruct the auction company
Bear in mind that once the hammer falls, the sale is legally binding – so only formally instruct when you’re absolutely certain you want to sell.
STAGE 4
Marketing & viewings
With your property entered into auction, the auctioneer will get to work on three fronts: marketing, viewings, and the legal pack. Marketing typically runs for three to four weeks before auction day, with your property advertised on Rightmove, Zoopla, and the auctioneer’s own catalogue.
Viewings are managed on your behalf – no need for you to be there. Meanwhile, your solicitor prepares the legal pack, making all key documents available to buyers upfront. This is essential, as buyers are expected to have reviewed everything before they bid – the sale is legally binding the moment the hammer falls.
STAGE 5
Review interest
In the weeks leading up to auction day, the auctioneer will keep you updated on interest levels – including viewings, legal pack downloads, and registered bidders.
A final update is usually provided a day or two before the auction. Based on this feedback, the auctioneer may recommend proceeding as planned, accepting a pre-auction offer, or adjusting the reserve price. You’re under no obligation to reduce the reserve – but it’s worth keeping an open mind, as the auctioneer’s advice is grounded in real buyer feedback and their experience of what drives a successful sale.
STAGE 6
Auction day
Auction day is where the competitive process comes to life. Bidding is conducted in real time, with buyers competing openly – and this competition can be powerful.
Final sale prices regularly exceed the reserve, and it’s not unheard of for properties to sell well in excess of expectations when genuine demand takes hold. Once the hammer falls, contracts are legally exchanged, giving you a certain, binding sale with no risk of a buyer pulling out. Most properties sell successfully – but if bidding doesn’t reach the reserve, the auctioneer will look to negotiate a post-auction sale or invite you to enter the next auction.
STAGE 7
Completion of sale
On completion day, your solicitor will confirm receipt of funds and transfer the net proceeds to your bank account after settling any outstanding mortgage and sale or legal costs. You’ll receive a completion statement setting out exactly how the final figure was calculated. Once complete, your responsibilities as owner formally come to an end.
Contact our team
Considering selling your property at auction?
Give our team a call on 0800 862 0206 – we’ll be happy to chat about whether auction is the right fit for your property and situation.
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Request an estimate
If you know the address of the property you’re thinking about selling, the easiest way to get an auction sale price and cost estimate is by requesting a free estimate online.
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Auction appraisal
If you’re curious about auction pricing, the best place to start is by requesting a free auction appraisal. For most sellers, the key question is where the reserve price will be set and what the final sale price is likely to be. Auctioneers take a realistic approach – the reserve must be set at a level that attracts bidders and ensures the property sells. Unlike estate agents, auctioneers won’t provide inflated valuations; their focus is achieving a successful sale. Get started with a no-obligation free auction appraisal today.