Sell your East Ham House at Auction
Looking for a reliable and hassle-free sale of your East Ham house or flat? An auction sale could be the best option for you. Find out about the costs, timescale and expected sale price when selling your East Ham property at auction.
When choosing a London property auctioneer to sell your East Ham property, the starting point is to ask some suitable auctioneers to appraise your property for auction, and suggest a reserve price. Contact us find out home much your East Ham property will sell for at auction. For more information about the different London auctioneers, view our list of upcoming London property auction dates.
East Ham is an area approximately 8 miles east of central London, in the borough of Newham. East Ham is described as a multi-cultural area, evident by the many different churches, mosques and temples in the area.
More property owners are choosing to sell at auction because of the speed and convenience it offers. Request a free and no-obligation auction sale estimate or call 0800 862 0206 to discuss your options.
Selling a property at auction is easy and quick – with completion of sale in as little as 6 to 8 weeks. The following 5 steps briefly outline the process for selling a property at auction.
Step 1 – Request a free auction appraisal for your East Ham property. Auction Link provides free auction appraisals including reserve price and auction sale price estimates. Get started online now – request a free auction sale price estimate for your East Ham property.
Step 2 – If you’re happy with the suggested reserve price – sign the auctioneers’ terms of business to book your East Ham property into the next auction. You will need to book in no later than 4 weeks before auction day.
Step 3 – Appoint a solicitor to compile the auction legal pack. Most conveyancing solicitors will be able to help with an auction sale. We can recommend an auction solicitor if required.
Step 4 – Send keys to the auction company so they can take photos for the marketing and access the property for viewings.
Step 5 – On auction day the buyer pays a 10% deposit and contracts are exchanged for a legally binding sale. Completion of sale is 28 days later.
The most important consideration when selling your property at auction will be the reserve price. The reserve price is the lowest amount your property will be allowed to sell for. The auction reserve price is decided by the auctioneer, they carry out their research, look at comparable sales and the value of your property, then they suggest the reserve rice.
If you’re happy with the auctioneers suggested reserve price then you can make the decision to book your property into auction and be reassured that your property will not be allowed to sell for any less than the agreed reserve price. All being well, the final sale price will be well in excess of the reserve price, but there is no guarantee. Reserve prices are set below market value to stimulate interest in the property and ensure the best chances of a sale.
Looking for a quick and reliable property sale. Request a free and no-obligation auction reserve price and auction sale estimate for your East Ham house, flat or commercial premises or call our team on 0800 862 0206 to discuss your options.
Should I sell my East Ham property at auction, or with an estate agent? It depends on you’re requirements and the type of property being sold. Any type of property can be sold at auction, regardless of condition. However, properties in poor condition sell particularly well at auction because the audience of buyers for properties in need of modernisation tend to be the trade end of the market; builders, developers and amateur DIY’ers. This article explains why you should avoid selling a poor condition property with an estate agent and why auction is the better option.
The timescales for selling a property at auction is between 6 to 8 weeks. That’s from the time off booking into auction until completion of sale (when you receive funds and hand the keys to the buyer). If you need to sell your East Ham property any sooner for a guaranteed sale price call us to talk about a direct offer.
Selling your East Ham property at auction is easy. Request a free and no-obligation auction reserve price and auction sale estimate for your East Ham house, flat or commercial premises or call our team on 0800 862 0206 to discuss your options.
Some of our customers like to attend a live auction prior to selling their own property, to familiarise themselves with the process. Anyone can attend an auction and you would be welcome to attend – you can view a list of London property auctions and future auction dates. Most auctions are also streamed online, but you won’t get to see the crowd of buyers and soak up the atmosphere if you’re viewing online. Some prospective sellers also like to see past auction sale results, we’ve listed some examples of East Ham property auction sales below.
41 Altmore Avenue, East Ham, London E6 2BZ
Example of a 2 bedroom, mid-terraced property in East Ham, successfully sold at auction on the 21st of March 2019 for £328,000. Barnard Marcus Auctions advertised the property with a guide price of £275,000 and describe the property in their catalogue as: Freehold two floor mid terrace house, in need of modernisation and refurbishment, full vacant possession.
60 Mafeking Avenue, East Ham, London, E6 3BH
This 2 bedroom, freehold, terrace house in East Ham sold at auction with Allsop auctions in May 2019 for £280,000. The property was sold with a registered rent and an income of £6,656 per year. Mafeking Avenue runs parallel to the neighbouring streets of Macaulay Road and Kimberley Avenue.
51 Southend Road, East Ham, London, E6 2AL
Savills auctions successfully sold this 3 bedroom house on Southend Road in East Ham for £351,000 in their May 2019 auction. The property required modernisation, as the above photo shows. Southend Road runs parallel to the tube lines serving the nearby East Ham tube station. 51 South End Road doesn’t directly back on to the railway lines so doesn’t have the issue of noise and vibration that other houses on the street will have.
97 High Street South, East Ham, London, E6 6EJ
This example of a 3 bedroom mid-terraced house at 97 High Street South in East Ham demonstrates why unmodernised houses are better sold at auction compared to an estate agency sale. The property was in a poor state of repair, with windows boarded up and a lot of work required to bring the house up to a habitable standard. The property sold for £355,000 in Savills April 2019 auction.
More examples of East Ham property auction sales
For more examples of recent auction sales in East Ham, visit the Essential Information Group’s website. Click the image below to view details of recent auction sales in East Ham.
If you’re considering selling your East Ham property at auction, it can be useful to see what is currently available for sale by auction in the local area. Follow these instructions to view properties for sale by auction, on Rightmove, in East Ham, London.
Step 1. Go to https://www.rightmove.co.uk/
Step 2. Enter a search term e.g. “East Ham”, “Newham” or “E6”
Step 3. Click “for sale”
Step 4. Click “find properties”
Step 5. On the menu bar at the top right of the page there is a tab called “filter”, click on it…
Step 6. Click “auction property” and then done.
East Ham Property Auction Sale Price Estimate
What price will your East Ham house or flat sell for at auction? Request a free auction sale price estimate for your East Ham property.
Prefer to talk?
Need help deciding if auction is right for you? Call 0800 862 0206 or request a call back for later.