Selling a House at Auction – Is It the Right Choice?
Selling a house at auction is an efficient and often profitable way to sell property, particularly for those looking for a fast sale, competitive bidding, or a secure transaction. Whether you have a unique property, an investment opportunity, or need a quick sale, auctions provide a structured and transparent way to achieve market value.
Why Sell Your House at Auction?
✔ Fast Sale – The auction process is quicker than traditional sales, with a fixed date for completion.
✔ Secure Transaction – Buyers exchange contracts immediately, reducing the risk of fall-throughs.
✔ Competitive Bidding – Multiple bidders can drive up the sale price.
✔ Ideal for Unique or Hard-to-Sell Properties – Auctions attract investors and cash buyers.
✔ Set a Reserve Price – Ensures your property won’t sell for less than a minimum amount.
How Does Selling a House at Auction Work?
1. Choose an Auction House
- Select a reputable auction house that specializes in your property type.
- Consider Fraser Bond’s expert auction services for a seamless selling experience.
2. Set a Reserve Price & Guide Price
- Reserve Price: The minimum amount you’ll accept.
- Guide Price: A public estimate to attract buyers.
3. Prepare the Legal Pack
- Work with a solicitor to provide essential documents, including:
- Title deeds
- Energy Performance Certificate (EPC)
- Property information forms
- Special conditions of sale
4. Market the Property
- Auction houses advertise to investors, developers, and homebuyers.
- High-quality listings and property viewings help attract interest.
5. Auction Day – Selling Your Property
- Buyers place bids, and once the hammer falls, the winning bidder legally commits to the purchase.
- The buyer pays a deposit (usually 10%) immediately and completes within 28 days.
Costs of Selling a House at Auction
