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.
East Ham property auctions
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 to find out how 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.
The 5 steps to selling your East Ham property at auction
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.
What price will my East Ham property sell for at auction?
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 price.
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 your 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 of 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.
East Ham property auction sales
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.
For examples of recent auction sales in East Ham, visit the Essential Information Group's website to view details of recent auction sales in the area.
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.
- Go to https://www.rightmove.co.uk/
- Enter a search term e.g. "East Ham", "Newham" or "E6"
- Click "for sale"
- Click "find properties"
- On the menu bar at the top right of the page there is a tab called "filter", click on it...
- Click "auction property" and then done.
Next steps
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.
