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Find out how to Sell Your Property at Auction with Auction Estates

Reasons To

Sell your property
at auction

At Auction Estates we can advise on whether the auction route is right for you, what price you're likely to achieve and guide you through every stage of the sale process.

We've broken the auction process down into 9 easy stages so you can see at a glance how it works (see below).

Auctions are a very quick and efficient method of selling property. As the majority of legal documents are held on-line, our clients can be kept informed throughout the sales process with an accurate view on how many people are interested and likely to be bidding. This information allows us to discuss with you the interest generated and agree a suitable reserve price ready for the auction.

Whilst the auction process is very effective with a high success rate, we are realistic there will be occasions when the market's view differs from the reserve set. It is often the case that deals are agreed shortly after the auction finishes, but there is the opportunity to re-enter into a subsequent sale should the property remain unsold.

Auction Estates Live Auction

Benefits to Selling

  • Over four weeks of intensive marketing prior to auction
  • Certainty of timing and the best possible market price through competitive bidding
  • Exchange of contracts on the fall of the hammer with completions typically 28 days thereafter
  • Full Vendor updates of buyer interest and progress throughout the process
  • National coverage of UK investors and agents
  • Digital advertising and press coverage in local, regional, national and trade media

The Auction Process

In 9 easy stages

  • Step
    How suitable is my property?
    The first step is to contact us with details of your property and to discuss the general background to your enquiry. We can then arrange a free, no obligation inspection to advise whether auction is the right route for you.
  • Step
    Instructing Auction Estates
    Following our inspection we will write to you setting out our advice on the Guide Price and expectations on the sale. This will also include confirmation of our fees and General Terms of Business. Should you wish to proceed then we will require you to sign, date and return the copy letter whereupon we will commence the marketing process.
  • Step
    Identification Process
    To comply with our Money Laundering obligations, all clients are required to provide proof of their identity. The requirements of which documents are acceptable are clearly set out in the instruction letter and our Team are here to help you with any queries should they arise.
  • Step
    Instruct a solicitor
    Your solicitor should prepare the legal pack and contracts well in advance of the auction.
  • Step
    Ensure the catalogue is correct
    You will be asked to check your listing in the catalogue before it goes to print or is marketed on Auction Estates and other property related websites. This is your chance to ensure all of the details are correct - errors could scupper a sale and be potentially misleading.
  • Step
    Set a reserve price
    As marketing progresses, the Team will keep in regular contact with updates on interest, viewings and downloads of the legal documents by interested parties. The information available allows us to advise you of an appropriate reserve price (the lowest price for which you're willing to sell). You will need to confirm this with us at least a few days before the auction.
  • Step
    Go to the auction - or wait for the phone to ring
    If you're not attending one of the Team will call and tell you the outcome shortly after the auction has been held.
  • Step
    Get paid
    A 10% deposit is taken from the buyer on the day of the sale with completion usually taking place around 21-28 days after the auction, so you'll be able to collect your money, minus fees, within a month of the sale.
  • Step
    Not Sold?
    If a property fails to meet its reserve in the room, then a sale can often be agreed soon after the auction finishes. Marketing will often continue until such time that a sale is secured or there is the option to re-enter into another auction for a second chance.

Thinking of selling your property at auction?

Get in touch today

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