Guide to Selling a House at Auction

Last updated by Mark Grantham on 1st November 2026

This guide is for anyone thinking about selling a house or flat at auction. It explains the two main types of property auction, why sellers choose auction, the downsides and each stage of the sale. It also covers how long it takes, what it costs and how to choose an auctioneer. It covers selling in England and Wales, as Scotland and Northern Ireland have their own rules.

Many people assume auction is only for run-down homes or sellers in a hurry. In fact, any type of property can be sold at auction, and many sellers choose it for the certainty it gives: a committed buyer and a fixed timetable.

The guide at a glance

1. There are two main types of auction. An on-the-day auction sells in a few minutes on a set date. An extended auction takes bids online over about a month.
2. Auction gives you a committed buyer. Buyers do their research before they bid, and at an unconditional auction the winning bidder must complete.
3. There are downsides to weigh up. You might sell at the reserve price, and you cannot back out once the hammer falls.
4. The sale follows seven stages. They run from checking that auction suits you to handing over the keys.
5. It usually takes 6 to 8 weeks. That is about four weeks to auction day, then usually 28 days to complete.
6. It usually costs a little more than an estate agent. Commission is typically 2% to 3% plus VAT, and some auctioneers let you pass it to the buyer.
7. Choose an auctioneer on results, not the highest reserve. Look for recent sales of similar properties near you.

What types of property auction are there?

What to do: Compare the types of auction available and choose the one that best fits your situation and the sale price you need to achieve. Take your time and do not rush; you can only sell once, so it pays to get it right.

There are two main types of property auction: the on-the-day auction and the extended auction. Both sell to the highest bidder, as long as bidding reaches your reserve price. The main differences are how long bidding lasts, how much marketing comes first and who tends to bid.

On-the-day auction

This is the traditional auction most people picture, and the kind you see on television. The auctioneer markets the property for about four weeks, then sells it in a few minutes of bidding on a set date. Each property in the sale is called a lot, and a single auction can include dozens or even hundreds of lots.

• A fixed date: you know in advance when the sale will happen.
• Speed: about four weeks of marketing, then a few minutes of bidding.
• Priced to sell: the reserve is usually set well below market value to attract bidders.

Some auctions are still held in a room, such as a hotel function suite. Most now run online, with buyers bidding through a live video stream, by phone or by proxy, which means leaving a maximum bid with the auctioneer.

Extended auction

An extended auction runs online for longer, usually about a month. Buyers can bid at any time until a set closing time. If bidding has not reached the reserve by then, the auctioneer can extend the auction, which is why it is sometimes called a rolling auction.

• A flexible end date: the closing date can be brought forward or extended, with your agreement.
• More time for buyers: viewings and bidding run for weeks rather than days.
• Priced closer to market value: the reserve is usually higher than at an on-the-day auction.

An extended auction is a mix of an estate agency sale and an auction. The marketing and viewings feel much like an estate agent's, but the property still sells to the highest bidder. This format has opened up auction to many more home sellers, including owners of homes in good condition. Our page on extended auctions explains how they work.

Unconditional or conditional: check which you are getting

Extended auctions come in two forms, and the difference matters:

• Unconditional: binding when bidding closes. The winning bidder exchanges contracts at the end of the auction, just as they would at an on-the-day auction.
• Conditional: not binding on the day. Often called the modern method of auction. The winning bidder pays a non-refundable reservation fee instead of exchanging contracts, then has a set period to exchange and complete. They can still walk away before exchange, losing the fee.

If an estate agent suggests selling by auction, there is a good chance they mean the modern method of auction. Agents may favour it because the buyer pays the fees, and some agents earn a referral fee from the auction company. Ask how your agent would be paid.

This guide covers unconditional auctions, where the sale is binding on the day. If certainty is your main reason for choosing auction, ask whether the sale is unconditional before you sign. Our guide to unconditional and conditional auctions explains the difference in more detail.

Why sell a house at auction?

What to do: Decide how much certainty is worth to you. At an unconditional auction, the price and completion date are fixed when the hammer falls. With an estate agent, neither is certain until contracts are exchanged.

The main reason to sell at auction is certainty. In England and Wales, an offer made through an estate agent is not legally binding until contracts are exchanged. That is the point when both sides become legally committed, and it is often months later. Until then, the buyer can lower their offer or pull out, as the GOV.UK guide to selling a home explains. The rules are different in Scotland.

Auction turns that order round. Buyers do their research and arrange their money before they bid, and any number of them can compete at once. At an unconditional auction, the winning bidder is committed as soon as the hammer falls.

With an estate agent, the sale can fall through at any point until exchange. At auction, buyers finish their research before they bid, so the winning bidder is committed when the hammer falls.

Auction also keeps the property on the market until the sale is binding. With an estate agent, a "sold subject to contract" sign tends to put off other buyers once an offer is accepted. At auction, every interested buyer can bid, and the property sells to the highest bidder above your reserve.

We sum up the benefits of selling at auction as a binding sale, speed, competitive bidding, the protection of a reserve price, intensive marketing, a high success rate and transparency. Our guide to the benefits of selling a house at auction explains each one. If you are selling a flat, our guide to selling a leasehold flat covers the points that apply to flats.

Auction is not right for everyone, though. To sell this way, you need to be ready to move out within about four weeks of auction day, and you need to be happy to sell at the reserve price. The next section explains why.

What are the disadvantages of selling at auction?

What to do: Ask yourself two questions. Would you be happy to sell at the reserve price? Could you move out within about four weeks of auction day? If either answer is no, auction may not be right for you.

Selling at auction has drawbacks as well as benefits. Some can be managed, but they mean auction does not suit every seller. These are the five that matter most.

1. You might sell at the reserve price

The reserve price is the lowest price you will accept, agreed privately with the auctioneer before the property is marketed. It is your safety net, as the property cannot sell for less. There is no upper limit, and competitive bidding often pushes the price above the reserve.

Auction: from Latin augere ("to increase")
especially in the bidding of a property sale.

Auctioneers usually advise a reserve below market value to attract bidders, often 10% to 20% below. The gap tends to be smaller at an extended auction and for properties that sell well at auction. Make sure the reserve would cover your mortgage and your moving costs, because if bidding reaches it, the property is sold.

The risk is selling at the reserve when you hoped for more. If only one buyer bids, the hammer can fall at the reserve, and at an unconditional auction you cannot change your mind afterwards.

2. You cannot back out

Once the hammer falls at an unconditional auction, neither you nor the buyer can withdraw. Completion, when the buyer pays the rest of the price and you hand over the keys, usually follows 28 days later. So you need to be a chain-free seller. That means you can move out by completion day without waiting to buy your next home.

An empty property is ideal. A tenanted property is fine too, as the tenancy passes to the buyer.

3. It usually costs a little more than an estate agent

At an on-the-day auction, the auctioneer's commission is usually 2% to 3% plus VAT, paid only if the property sells. Many also charge an entry fee of around £300 to £400 plus VAT. A good high street estate agent typically charges 1% to 2% plus VAT. Some auctioneers let you pass their fees to the buyer, and at most extended auctions the buyer pays. The costs section below has the details.

4. It might not sell

Around 80% of properties entered into auction sell, but some do not. If bidding stops below the reserve at an on-the-day auction, the auctioneer will usually try to agree a sale with the bidders straight afterwards. If that fails, you can enter the next auction, and some auctioneers do not charge a second entry fee. At an extended auction, the closing date can simply be extended.

Check your terms of business, too. If you later sell to a buyer the auctioneer introduced, you may still owe their commission. Our guide on what happens if a house does not sell at auction covers your options.

5. Fewer homebuyers bid at auction

Auction attracts buyers who can move quickly, such as investors, developers and cash buyers. Some homebuyers prefer the slower pace of buying through an estate agent, and those who need a mortgage have only a few weeks to arrange it. This is most noticeable at on-the-day auctions. Extended auctions give buyers more time, so they attract more people buying a home to live in.

For more on each of these, read our full guide to the disadvantages of selling a house at auction.

How to sell a house at auction in 7 stages

What to do: Take it one stage at a time. The auctioneer and your solicitor do most of the work, so your main jobs are agreeing the reserve and planning your move.

Selling at auction follows seven stages, from checking that auction suits you to completion day. The roadmap shows how they fit together. Open a stage below it for a short summary, or read the full detail further down.

Video guide: selling a house at auction

This eight-minute video covers the same ground as this guide, including choosing an auctioneer, reserve prices, fees, the legal pack and what to expect on auction day.

Stage 1: Check that auction suits you

Auction can sell almost any type of property, but it does not suit every seller's circumstances. Before you speak to an auctioneer, check these two points.

1. Can you move quickly? Completion usually takes place 28 days after auction day, on a date fixed in the contract. If you live in the property, you need somewhere to move to by then. If the property is empty or let to a tenant, you are probably chain-free already. Since 1 May 2026, most private tenancies in England are assured periodic tenancies under the Renters' Rights Act 2025. If you sell with a tenant in place, the tenancy continues and the buyer becomes the landlord. Wales has different rules.
2. Are you happy with the reserve price? The property can sell for the reserve, so it needs to be a price you would accept. If the reserve the auctioneer suggests is too low for you, auction may not be the right route.

Our page on the two initial checks for selling by auction goes through both points in more detail.

The other decision at this stage is which type of auction to use. An extended auction usually has a reserve closer to market value, as buyers have longer to arrange viewings, finance and legal checks. An on-the-day auction is quicker, and it suits properties that investors and cash buyers compete for, such as homes that need modernising.

Stage 2: Get a valuation and agree a reserve price

Auctioneers, estate agents and surveyors all value property in the same basic way. They look at recent sale prices of similar properties nearby, then adjust for differences in size, condition and location, and for any change in the market since those sales.

Valuing is harder when a property is unusual, has no recent sales nearby to compare it with or needs a lot of work. The cost of repairs then has to be taken into account, and the value depends partly on what buyers think they can do with the property.

Will someone need to visit the property?

Not always. An estate agent will usually visit before suggesting an asking price, partly to win your instruction. An auctioneer may visit, but many are happy to give a desktop valuation, based on the details and photos you send plus local sales data.

That is because auction pricing works differently. An auctioneer does not need an asking price for buyers to negotiate down. They need a realistic reserve, and a guide price that reflects it, to bring in bidders. The bidding then sets the final price.

How auctioneers approach price

Estate agents talk about asking prices, and auctioneers talk about reserve prices. Some agents suggest a high asking price to win the instruction, and the price often comes down later as offers are negotiated. At auction, the price moves the other way. It starts low and rises with each bid, so there is no ceiling on what a property can sell for.

Auctioneers tend to be direct about price, for two practical reasons:

• Competition raises the price. A competitive reserve and guide price attract more bidders, and more bidders usually means a higher final price.
• Time is limited. Auctioneers work to fixed dates. A property priced too high may attract little interest and fail to sell, which wastes time for you and for them.

What the reserve price means for you

You agree the reserve price with the auctioneer before the property goes into the auction, and it is not published. The property cannot sell below it, and the reserve cannot be lowered without your consent. If the figure an auctioneer suggests is too low for you, there may be some room to negotiate, but do not expect it to move far. Our guide to auction reserve prices explains how the reserve and guide price work together.

Should you choose the auctioneer with the highest reserve?

Not on that basis alone. A higher reserve is only worth having if the auctioneer can actually sell at it. Ask yourself which you would trust more: an auctioneer with a strong record of selling similar properties nearby who suggests a lower reserve, or one who suggests a higher figure but cannot show you recent results.

Be wary of any auctioneer who suggests an unrealistically high reserve and also asks for an upfront fee. That combination can leave you paying for a sale that was never likely to happen.

A higher reserve can be justified if the service is different, for example an extended auction with wider marketing and a longer bidding period. Ask each auctioneer for their fees and terms of business in writing, ideally by email, so you can compare them side by side. The section on how to choose an auctioneer has more points to consider.

Stage 3: Instruct the auctioneer and a solicitor

Before you sign, be sure you want to sell. You can talk to auctioneers and get reserve price advice without any obligation. But once you have instructed an auctioneer and the hammer falls at an unconditional auction, the sale is final.

Once you have chosen your auctioneer, there are five things to do:

1. Give notice to your estate agent, if you have one.
2. Plan your move for the completion date.
3. Instruct a solicitor to prepare the legal pack.
4. Prove your identity to the auctioneer.
5. Check, sign and return the auctioneer's terms of business.

Give notice to your estate agent

This only applies if the property is already on the market with an estate agent. Auctioneers need to be the only agent marketing the property, so that every interested buyer goes through the auction. Two listings for the same property, for example on Rightmove, confuse buyers. A competing agent might even discourage people from bidding, in the hope that you go back to them.

Check your estate agent's contract for the notice period, and make sure it has ended before the auctioneer starts marketing. If not, you could owe commission to both the agent and the auctioneer. You could also owe your agent a fee if the buyer first viewed the property through them. Our guide explains how to serve notice to your estate agent, and our page on keeping your estate agent while selling at auction explains why you have to choose one route.

There is one exception. Some extended auction companies work with local estate agents, who show buyers round and contact their own buyers. The auctioneer chooses and pays these partner agents, and they work within the auction process.

Plan your move

Two dates matter: exchange and completion. Contracts are exchanged when the hammer falls, and completion follows, usually 28 days later. You can stay in the property between the two, but you must have moved out, with all your belongings, by completion day.

If you need longer, ask your solicitor to set a later completion date, such as six or eight weeks, before the auction. They write it into the special conditions of sale, which are the terms specific to your property that buyers see in the legal pack. Once contracts are exchanged, you cannot change the date on your own.

If you are selling with a tenant in place, the tenancy passes to the buyer on completion, and you stop receiving rent from that day. Read more about selling a tenanted property at auction.

Instruct a solicitor early

Find a solicitor before you sign with the auctioneer, and tell them the auction date. They need time to prepare the auction legal pack. If the pack is late or incomplete, buyers may not have time to check it, which can reduce bidding or stop the sale altogether. Most conveyancing solicitors handle auction sales, and auctioneers can usually recommend firms with auction experience.

Prove your identity

Auctioneers must check your identity under the anti-money laundering rules before they can take your instruction. They need to confirm who you are and that you own the property or have the right to sell it. You will usually need photo ID, such as a passport or driving licence, and a recent document showing your current address, such as a bank statement or utility bill. Many auctioneers now use a certified ID app, which asks for a photo of your ID and a selfie.

The auctioneer will usually check that your name matches the owner's name at HM Land Registry, and each co-owner must provide their own ID. If you are an executor, you will usually need the grant of probate before auction day, as contracts are exchanged when the hammer falls and you cannot complete without it. If there is no will, the administrator must have letters of administration before auction day. Our guide to selling an inherited house before probate explains the timing.

Check the terms of business

The auctioneer's terms of business, also called the agency agreement, are similar to an estate agent's contract. Check these points carefully:

• the fees and charges, and when each one is due
• how long the auctioneer has the sole right to sell the property
• the agreed reserve price and the auction date
• what you would owe if the property does not sell, if the legal pack is not ready in time or if you withdraw before auction day

Take a day or two to read the terms, and ask someone you trust to look over them too. You do not have to sign straight away.

Entry deadlines

Each auction has a closing date for entries, usually three to four weeks before auction day. For a freehold property, aim to instruct about four weeks ahead. For a leasehold flat, allow 5 to 8 weeks, as the management pack from the freeholder or managing agent can take several weeks to arrive. Most auctioneers publish their auction dates online, and some show the closing date for entries too. If yours does not, ask.

Stage 4: Marketing, viewings and the legal pack

Before auction day, buyers need to find the property, view it and check the legal details. The sale is binding on the day, so all of this has to happen before anyone bids. Preparation falls into three parts:

1. Marketing: photos, a description, often a floor plan, and adverts on the auctioneer's website and property portals.
2. Viewings: the auctioneer arranges access so buyers can inspect the property.
3. The legal pack: your solicitor prepares the title documents, searches and property information forms for buyers to check.

Marketing

The auctioneer arranges photos and writes a description, which you approve before the listing goes live. Auction marketing usually runs for only three to four weeks, so approve the details quickly. The property is then advertised:

• on property portals such as Rightmove and Zoopla
• in the auctioneer's catalogue and on their website
• by email to the auctioneer's list of registered buyers

A "for sale" board is optional.

How auction marketing is different

The biggest difference is the price shown on the listing. Auctions advertise a guide price, not an asking price. The guide shows buyers roughly the lowest price you are likely to accept, so it should reflect the expected reserve. Under advertising rules, the reserve can be a little higher than the guide. But it cannot be more than 10% above a single-figure guide price, or above the top of a guide range. So a reserve of £300,000 could have a guide price of £275,000. An auctioneer should not advertise a guide below the price you would accept just to draw in bidders, as that misleads buyers. Our guide to guide prices explains this in more detail.

The campaign is also short and intensive. Interest usually peaks in the first week or two, when the catalogue is released. In the run-up to auction day, the auctioneer follows up interested buyers and encourages them to register to bid.

Auction listings tend to have shorter descriptions than an estate agent's, but buyers get more information overall, as the legal pack is available before they bid.

Do you need to disclose problems with the property?

In practice, yes. The law does not make you list every fault, as buyers are expected to check the property for themselves. But you must not mislead buyers or hide problems. Your solicitor will ask about known problems on the property information forms, and your answers go in the legal pack. They must be true and complete, as wrong answers can lead to a claim against you after the sale.

Your auctioneer must also give buyers key facts, such as the tenure, flood risk and building safety, and will ask you for them. So the safest course is to be open about any problem you know of.

Viewings

Viewings let buyers inspect the property before they decide to bid. You will usually give the auctioneer a set of keys, and you do not need to be there. How viewings work depends on the type of auction:

• On-the-day auction: usually a few block viewings, where several buyers attend at set times. Auctioneers often use a specialist viewing company, and there may be only three or four viewing slots before auction day.
• Extended auction: viewings are more flexible and are often booked at times that suit each buyer, much like an estate agency sale. Many extended auctions use a local partner estate agent to show buyers round.

The legal pack

A property cannot be sold at auction without a legal pack. It holds much of the information a buyer would receive during an estate agency sale, such as the title documents, searches, property information forms and, for a flat, the lease. The difference is that everything is available before the auction, instead of arriving bit by bit over several months.

Buyers are treated as having read the legal pack before they bid, as the sale is binding when the hammer falls. A complete pack gives them the confidence to bid, and a missing document can cost you bidders. So reply promptly when your solicitor sends you forms to fill in or questions to answer. Read our full guide to the auction legal pack.

Stage 5: Review interest and offers before auction day

In the weeks before the auction, the auctioneer will keep you updated on interest in the property, with a final update a day or two before. They will usually report:

• the number of viewings
• the number of legal pack downloads or requests
• the number of registered bidders
• any proxy bids, which are maximum bids left with the auctioneer by buyers who cannot take part live
• any offers received before the auction

The auctioneer will also recommend what to do next. The options are different for an on-the-day auction and an extended auction.

Your options before an on-the-day auction

1. Go ahead at the agreed reserve. If interest has been strong, the auctioneer may advise keeping the reserve and letting buyers compete on the day.
2. Accept an offer before the auction. The buyer exchanges contracts and pays the deposit before auction day, and the property is withdrawn as "sold prior". An offer above the reserve may be worth taking if the auctioneer doubts bidding will go that high. An offer below the reserve means weighing a sale now against the risk of no sale on the day.
3. Lower the reserve. If interest has been limited, the auctioneer may suggest a lower reserve. You do not have to agree.
4. Move to a later auction. If the legal pack is not ready, or there are few or no registered bidders, the auctioneer may advise withdrawing the property and entering a later auction with fresh marketing.

Deciding whether to lower the reserve can be difficult. Suppose the reserve is £300,000, and one bidder has told the auctioneer they will bid but will not go above £290,000. You decide to keep the reserve. On the day, the auctioneer can bid on your behalf up to just below the reserve, say £299,000, in the hope that the real bidder goes to £300,000. The standard auction conditions allow this up to the reserve, but never at or above it.

If the bidder stops at £290,000, the property is unsold. You could still accept £290,000 afterwards, but by then the buyer may offer less, or walk away.

Can you raise the reserve before auction day?

It is rare. A higher reserve makes a sale less likely, so auctioneers are often reluctant to agree. Some charge a fee if you raise the reserve and the property then does not sell, so check your agreement first. An auctioneer may agree to a higher reserve if interest is exceptionally strong and they expect bidding to go well past the original figure.

Your options during an extended auction

An extended auction runs continuously, usually for about a month, and you can follow it as it happens. Most extended auctioneers give you an online dashboard showing views, bids, the highest bid and buyer comments, and a good auctioneer will also keep in touch by phone. The auctioneer may suggest one of these:

• Carry on at the agreed reserve, if interest is strong.
• End the auction early, if bidding has passed the reserve in the first week or two. Buyers are told the new closing time, and a short final period, from two hours to a few days, gives them a last chance to bid. Letting the auction run its full course is often the better choice, but an early finish can secure a good price when the market is uncertain.
• Consider a "today only" offer. Investors sometimes make an offer that lasts only for that day, hoping for a quick deal at a lower price. These are rarely worth accepting unless the price is sensible and you value an immediate exchange. If you are tempted, ask the auctioneer to give other bidders a few hours to beat it.
• Lower the reserve to the highest bid, if bidding stops short of it. Contracts can then be exchanged straight away.
• Extend the auction, by two to four weeks or more, if more time could bring in more bidders.
• Withdraw the property, if bidding has still not reached the reserve after an extension. You will usually need to give written notice, often around a month, and some agreements set a minimum term first, so check yours.

Be wary of direct approaches

Before auction day, you may be contacted by buyers making direct offers, or by estate agents claiming to have a buyer if you withdraw from the auction. These approaches are often an attempt to buy the property for less, away from open bidding. Pass them to your auctioneer, who can check them and invite the buyer to bid alongside everyone else.

Stage 6: Auction day

Auction day works differently for the two types of auction. You do not need to attend either, and nor does your solicitor, but an on-the-day auction can be worth watching.

At an on-the-day auction

Most on-the-day auctions now run online, with the auctioneer running the sale on a live video stream. Some are still held in a room, usually with online and phone bidding as well. Buyers can bid online, by phone or by proxy, so they can take part from anywhere. Many auctioneers use specialist bidding platforms, such as the one run by EIG (Essential Information Group).

Auctions run to a timetable. Lot 1 might be offered at 10am, and a large auction can include a few hundred lots, sometimes over two days, each taking a few minutes. The auctioneer publishes an estimated running order, and phone bidders get a call shortly before their lot.

How the bidding works

1. The auctioneer introduces the lot. They give the lot number, the address and a short description, and may mention how much interest there has been.
2. Bidding opens. It often starts around the guide price and rises in set steps, such as £10,000 at a time. As bidding slows, the auctioneer may drop to smaller steps, such as £1,000, to keep it going.
3. The auctioneer keeps the bidding moving. If it stalls, they may remind bidders of the property's best points, such as its location or rental income.
4. The hammer falls. When bidding stops at or above the reserve, the auctioneer brings down the gavel, and the property is sold to the highest bidder.

At an unconditional auction, contracts are exchanged when the hammer falls, or online when bidding closes. The buyer pays a deposit straight away, usually 10% of the price, or a minimum of a few thousand pounds if that is higher. Both sides are then bound to complete on the agreed date.

If only one genuine bidder takes part, the auctioneer can bid on your behalf up to just below the reserve, as described in stage 5. This is sometimes called bidding "off the wall".

If the property does not sell on the day

If bidding does not reach the reserve, the lot is declared unsold or "available". That is often not the end. The auctioneer will usually talk to the bidders straight after the auction and try to agree a sale, which can then be exchanged on the same terms. The property also stays on the property portals as available for a while, so new buyers can still find it.

If no deal is done, the auctioneer may suggest entering a later auction, perhaps with a new guide price or fresh marketing. Many auction houses hold an auction every few weeks, so the wait is usually short.

How an extended auction ends

At an extended auction, each property has its own closing time, such as Thursday at 2pm, and buyers can bid at any time until then. Many wait until the final hours. To stop a last-second bid winning unfairly, most platforms extend the closing time when a bid arrives near the end, usually by a few minutes or less. Each new late bid extends it again, so bidding can carry on past the planned closing time. The auction ends only when the extra time passes with no new bid.

If bidding has reached the reserve, the property is then sold to the highest bidder. At an unconditional extended auction, contracts are exchanged and the buyer pays their deposit. Some extended auctions ask for a deposit of 5% rather than 10%, plus the buyer's fee.

If bidding stops below the reserve

An extended auction gives you more options than an on-the-day auction. Suppose the reserve is £400,000 and bidding has reached £390,000 at the closing time. The auctioneer will talk you through two choices:

• accept the £390,000 bid by lowering the reserve, and exchange contracts straight away
• extend the auction, if some buyers are still interested but need a few more days to arrange their finance or finish their checks

Either way, you have tested the market. The highest bid shows what buyers are willing to pay now, which is hard to find out through an estate agent. Once an agent puts up a "sold subject to contract" sign, other buyers tend to stop looking, even if they would have paid more. At auction, the property stays open to every bidder until the auction closes.

Stage 7: Completion

Completion is the day the buyer pays the rest of the price and becomes the owner. At most auctions it takes place 28 days after the auction, on a date set out in the legal pack. If the contract gives no date, the standard auction conditions allow 20 working days, which is about four weeks. Some sales use a shorter or longer period, such as 14 or 56 days, if that was agreed before the auction.

Once contracts are exchanged, neither side can change the date on their own, although you can complete earlier if you and the buyer both agree. If the buyer fails to complete, they can lose their deposit and may have to pay interest and your other losses. If you fail to complete, the buyer can get their deposit back and claim compensation, or ask a court to order you to complete. So plan your move well ahead, and work through the checklist below in the weeks before.

What happens on completion day

1. The buyer's solicitor sends the rest of the price to your solicitor.
2. Your solicitor confirms the money has arrived, and the sale is complete.
3. Your solicitor pays off your mortgage and any other secured loans, plus the auctioneer's fees and their own costs.
4. Your solicitor sends the rest to your bank account, with a completion statement showing every amount paid in and out.

You will usually get a call or email from your solicitor or the auctioneer once the money has arrived. The keys are then released to the buyer, either by your solicitor or by the auctioneer if they have been holding them for viewings. Agree in advance who will hand them over.

If you are selling a leasehold flat

Your solicitor will split the ground rent, service charge and any buildings insurance you pay between you and the buyer at the completion date. If you have paid for a period after completion, the buyer refunds that share as part of the completion money. Other adjustments may apply, such as contributions towards planned major works. Give your solicitor records of everything you have paid in advance.

If the property is tenanted

The tenancy passes to the buyer on completion, and they become the landlord. You stop collecting rent from that day, and any rent paid in advance is split at the completion date. Give the buyer a handover pack with:

• the tenancy agreement
• the deposit protection details
• a record of rent paid and any arrears
• the tenant's contact details
• any inventory or check-in report

After completion

Once the sale completes, you have no right to enter the property without the buyer's permission. Clear everything out before completion, unless the legal pack says the contents are included. Anything you leave still belongs to you, but the buyer can charge you for clearing it, and may sell or dispose of it if you do not collect it when asked. Walk round the day before, check the loft, shed and cupboards, and take dated photos of the condition you leave it in.

How long does it take to sell a house at auction?

What to do: Choose your auction date, then instruct the auctioneer and your solicitor about four weeks before it. For a leasehold flat, allow 5 to 8 weeks.

A typical auction sale takes 6 to 8 weeks from instructing the auctioneer to completion. That breaks down as:

• Before you instruct: as long as you need to get valuations, compare auctioneers and find a solicitor.
• Instruction to auction day: about four weeks for a freehold property, while the property is marketed and the legal pack is prepared. Allow 5 to 8 weeks for a leasehold flat.
• Auction day to completion: usually 28 days. It can be sooner if you and the buyer both agree, or longer if it was agreed before the auction.

An extended auction follows a similar timetable. Marketing and bidding run together for about a month, and completion usually follows 28 days after the auction closes. Our guide to the auction sale process sets out each step week by week.

How much does it cost to sell a house at auction?

What to do: Read the fees in the auctioneer's terms of business before you sign them, as you would with an estate agent. Check which fees you pay only if the property sells, and which you pay either way.

Selling at auction usually costs a little more than using a good high street estate agent. The main cost is the auctioneer's commission, which is only paid if the property sells. The table compares typical costs for an estate agent, an on-the-day auction and an extended auction.

Costs are a guide only and vary between auction companies and solicitors. All amounts exclude VAT. Estate agent fees are for a full-service high street agent, not an online agent.

Entry fee

Most on-the-day auctioneers charge an upfront entry fee of around £300 to £400 plus VAT, and a few charge none. It helps pay for the catalogue and for viewings, which are often run by a viewing company. Some auctioneers will let you pay it only if the property sells. Extra marketing, such as a full page in the catalogue, costs more. Extended auctioneers do not usually charge an upfront fee, and nor do most high street estate agents, apart from optional extras such as premium portal listings.

Commission

Commission is the biggest cost, and it is a percentage of the sale price. At an on-the-day auction it is usually 2% to 3% plus VAT, paid only if the property sells. Some auctioneers will lower the rate for a high-value property. For comparison, a high street estate agent typically charges 1% to 2% plus VAT for sole agency, where one agent has the sale, or up to 3.5% plus VAT if several agents are instructed at once.

Most auctioneers also have a minimum fee, often from around £1,500 plus VAT. That is why a £10,000 garage does not cost just £200 to sell at 2%.

At an extended auction, the buyer usually pays the fee as a buyer's premium on top of their bid. It is often 3.75% to 5% plus VAT, usually with a minimum fee. Any partner estate agent is paid out of that premium, so the seller pays nothing extra for their help.

Passing your costs to the buyer

At an on-the-day auction, some auctioneers will let you pass your costs to the buyer. Your solicitor adds a clause to the special conditions of sale in the legal pack, and buyers take the extra cost into account when they bid. At an extended auction, this is usually standard. Either way, the top bid is then the price you receive, with no commission to take off.

The buyer's administration fee

On-the-day auctioneers also charge the winning bidder an administration fee, sometimes called a contract documentation charge, usually around £1,250 to £2,000 plus VAT, and sometimes more. It covers work the auctioneer does on the day, such as checking the buyer's identity, taking the deposit and exchanging contracts. You do not pay it.

Legal pack and solicitor's fees

Every auction sale needs a legal pack, prepared by your solicitor. Expect to pay around £200 to £500 plus VAT for a simple property, such as a freehold garage or a small plot of land, plus the cost of any searches. It costs more for a leasehold flat or a commercial property. Some auctioneers arrange for the legal pack to be prepared with nothing to pay upfront, taking the cost from the sale money instead.

Your solicitor's overall fees are similar to those for an estate agency sale. If you are coming to auction after an estate agency sale fell through, ask whether the documents from that sale can be reused for the legal pack. That can keep your costs down, especially if your solicitor has already charged you for the work on the failed sale.

Our guide to the costs of selling a property at auction covers every fee in more detail.

How to choose an auctioneer

What to do: Shop around, just as you would when choosing an estate agent. Look for auctioneers who have recently sold similar properties near you, and compare their reserve advice, fees and terms in writing.

Start by deciding whether auction suits you and which type of auction you want, using the sections above. Then check these points for each auctioneer on your shortlist:

• Is the auction unconditional? Only an unconditional auction gives you a binding sale on the day. Most of the sellers we work with prefer it.
• Do they sell properties like yours? Ask for recent examples near you, and what each one actually sold for.
• How many of their lots sell? Ask what share sell on the day or soon after.
• Is their reserve advice realistic? Do not choose on the highest reserve alone, particularly if it comes with an upfront fee.
• What are their fees and terms? Get them in writing, including what you would pay if the property does not sell.

How to find auctioneers near you

Search online for property auctioneers in your area, or use a property portal to see which auctioneers are active locally. On Rightmove:

1. Search for property for sale, using a place or postcode such as "London" or "SW19".
2. On the results page, open "Filters".
3. Under "Must Haves", choose "Auction Properties".
4. Choose to include properties that are Under Offer or Sold STC (sold subject to contract).
5. Click "Done".

Note the name of each auction company in the results. If nothing shows, widen the search radius to within 1 or 5 miles. Rightmove sometimes renames these options, so look for the nearest match.

We also list London property auctions, with future auction dates. Most London auction houses sell across England and Wales or the whole UK, so they are worth considering even if your property is elsewhere.

Summary: auction or estate agent?

How the two types of unconditional auction compare with selling through an estate agent.

Frequently asked questions

If your question is not answered here, see our selling at auction FAQs or contact us.

Is my property suitable for auction?

Almost any property can be sold at auction, whatever its condition. Auction gives the biggest advantage to properties with potential, such as homes that need modernising, as buyers compete on what the property could become. But your circumstances often matter more than the property itself. Auction suits sellers who want a quick, binding sale and can move out within about four weeks of auction day.

Can I sell at auction if I have a mortgage?

Yes. Many properties sold at auction have a mortgage. Your solicitor pays it off from the sale money on completion day. Before you agree a reserve price, check that it would cover the amount needed to clear the mortgage, which your lender can give you as a redemption figure, plus your selling costs.

How does an auction sale price compare with an estate agent's?

The price moves in opposite directions. With an estate agent, the asking price usually comes down as the buyer negotiates, often after their survey. At auction, the price starts low and can only go up as buyers compete. There is no upper limit, which is why properties with potential often do well at auction.

With an estate agent, the asking price starts high and falls during negotiation. At auction, the price starts at the reserve and rises with each bid.

What is the difference between the guide price and the reserve price?

The guide price is the figure in the advert. It shows buyers roughly the lowest price you are likely to accept, so it should reflect the expected reserve. The reserve price is the lowest price you will accept, agreed privately with the auctioneer. It can be a little above the guide, but not more than 10% above a single-figure guide price, or above the top of a guide range.

How long does it take to sell a house at auction?

Usually 6 to 8 weeks from instructing the auctioneer to completion. That is about four weeks to auction day, then usually 28 days to complete. For a leasehold flat, allow 5 to 8 weeks before auction day, as the management pack can take several weeks to arrive.

Do I need a solicitor to sell at auction?

Yes. Your solicitor prepares the legal pack before the auction and deals with completion afterwards. Most conveyancing solicitors handle auction sales, and auctioneers can recommend firms with auction experience. Your solicitor does not need to attend the auction.

Can I accept an offer before auction day?

Yes, if you want the certainty of a sale before the auction. The buyer exchanges contracts and pays a deposit, usually 10%, so the sale is binding, and the property is withdrawn from the auction. Your auctioneer will advise whether the offer is worth taking, based on the interest so far. Letting buyers compete on the day often achieves the best price.

Can the buyer pull out after the hammer falls?

Not at an unconditional auction. Contracts are exchanged when the hammer falls, so the buyer is legally bound to complete. If they fail to, they can lose their deposit and may have to pay your losses. At a conditional auction, often called the modern method of auction, the buyer can still pull out before exchange, losing their reservation fee.

Do I need to go to the auction?

No. Neither you nor your solicitor needs to attend. The auctioneer runs the bidding and exchanges contracts on your behalf when the hammer falls. Many sellers like to watch an on-the-day auction, online or in the room, as it can be an exciting experience.

What happens if my house does not sell at auction?

The property is unsold if bidding does not reach the reserve, but that is often not the end. At an on-the-day auction, the auctioneer will usually try to agree a sale with bidders straight afterwards, or you can enter a later auction. At an extended auction, the closing date can be extended or the reserve lowered. Our guide on what happens if a house does not sell at auction explains your options.

What is the difference between an unconditional and a conditional auction?

At an unconditional auction, contracts are exchanged when the hammer falls, so the sale is binding on both sides. At a conditional auction, often called the modern method of auction, the winning bidder pays a non-refundable reservation fee instead. They then have a set period to exchange and complete, and can still walk away. Our guide to unconditional and conditional auctions compares them.

Who pays the auctioneer's fees?

At an on-the-day auction, the seller usually pays the commission, typically 2% to 3% plus VAT. Some auctioneers let you pass it to the buyer through the special conditions of sale. At most extended auctions, the buyer pays a buyer's premium instead. The winning bidder at an on-the-day auction also pays an administration fee.

Can I sell a tenanted property at auction?

Yes. Tenanted properties are often sold at auction, usually to investors. The tenancy passes to the buyer on completion, so the tenant does not need to leave. Since 1 May 2026, most private tenancies in England are assured periodic tenancies under the Renters' Rights Act 2025, and Wales has different rules. Our guide to selling a tenanted property at auction covers what buyers will want to see.

Other useful resources

• Royal Institution of Chartered Surveyors (RICS): RICS members who run property auctions must follow its standard, Auctioneers selling real estate (7th edition). RICS also publishes the Common Auction Conditions (5th edition, July 2024), used at many property auctions.
• Estate Agents Act 1979: property auctioneers must follow this Act, just like estate agents. Those selling homes must also belong to a government-approved redress scheme, such as The Property Ombudsman.
• Dealing with property auction issues (Cunningtons LLP): explains why "buyer beware" does not let a seller give inaccurate information about a property.
• Pros and cons of selling by auction: the main benefits and risks, side by side.
• Should you improve a property before selling?: whether to refurbish first or leave the work to the buyer.
• Poor condition property: auction or estate agent?: why an estate agency sale often goes wrong for a property that needs work.

Selling a house in poor condition

The rules of an auction sale mean that buyers must compete to purchase a property. And the highest bidder's offer is legally binding - there is no opportunity for them to reduce their offer.

Can houses in good condition be sold at auction?

Long gone are the days when auction was only suitable for run-down or unmodernised properties. An extended auction offers an efficient way to sell houses and flats in good condition.

What are the disadvantages of selling by auction?

There are some risks and disadvantages in selling by auction. If you're new to the idea of selling your home by auction, this article might help you decide if auction is suitable (or not) for you.

Selling a short lease flat

Short lease flats typically need to be sold to cash buyers. Since 31 January 2025 the buyer no longer has to wait 2 years before extending the lease, which can make the process for selling much easier.

Next steps

If you are thinking about selling at auction, the next step is to find out what your property could sell for. Request a free pre-auction appraisal, or call us on 0800 862 0206 to talk through your options.