How To Auction A House: Your 15-Step Guide To Success

If you've been thinking about selling your house at auction for a while, then you may be familiar with the three main benefits: 

1. Property auctions have a high success rate (roughly 78% of auction properties achieve a sale).
2. They're fast (an auction sale can be done in as little as 7-8 weeks).
3. Sales are legally binding (meaning less than 1% of auction sales fall through).

So, what if you decide to move forward and sell your house by auction? This in-depth guide will talk you through the full process, from start to finish. First, let's look at the steps.

How do you auction a house?

1. Shortlist possible auction houses
2. Get auction appraisals
3. Ask questions
4. Decide on your reserve price
5. Instruct the auction house
6. Sign up with the solicitors
7. Complete the legal pack
8. The auction house creates the listing
9. The listing goes live!
10. Wait… (For the auction date)
11. Conduct viewings for interested buyers
12. Consider pre-auction offers
13. Auction day!
14. Solicitors take care of the rest
15. Hand over the keys

We've put together this handy 15-step guide to answer exactly that.

Wondering if auction is the right fit for your home sale? We offer a free and impartial 1-to-1 consultation to help you answer that question. (And if auction is the right fit, I can connect you with our #1 Leading Auction House in your area). Click the button below to book now:

If you'd prefer to do your research first, let's get into it! 

1. Shortlist possible auction houses

The first step is picking some auction houses to contact. We recommend speaking with 2-3 before starting out. This gives you a feel for what different services offer, and which you feel most comfortable with.

We recommend shortlisting each of the following: 

1. One large national auction house
2. One smaller, up-and-coming national auction house
3. One local auction house

Wondering which auction houses to choose? Check out my article here on how to find the best property auction house for your sale.

You'll get three vastly different experiences speaking with each. It's worth speaking with different types because they vary so much. I've outlined some of the differences below.

If you want to get connected with my #1 Leading Auction House in your area, I can help...

National auction houses vs Local auction houses

One thing Pattinson Auctions say is that "National auctions means national audience". And this can be true. It may even be helpful... But it won't necessarily be.

They may have a ton of buyers, but if they're spread thin across the whole country then they're of little help to you. (After all, what's the use of having loads of ready buyers in Newcastle if your property's in Norwich?)

It can make much more sense to choose a regional auctioneer instead. Sure, a smaller, regional auctioneer won't have buyers all over the country... But they'll have a ton who are looking to buy property exactly where you are.

Word of mouth is crucial for local auctions

Think about reputations as well...

National auctions have the whole country to go at. If they let you down with your house in Norwich, it's barely going to affect their business elsewhere.

For regional auctions it's different. Their reputation matters so much more to them because their market's so much smaller and more concentrated. Word of mouth matters to them - a lot. This can result in a better service.

It's useful to speak with one of each to get a feel for how each can benefit your sale.

Large auction houses vs Small auction houses

If you think bigger is better when it comes to businesses, just think about the last time you tried to call your bank for help. Probably not the best.

Big businesses can offer a consistently high service to a large number of customers. But they can also be absolutely rubbish! 

When you go to a massive auction house you are taking a bit of a chance.

In my experience, dealing with the bigger auction houses can sometimes feel similar to dealing with the bigger corporate estate agents. Sometimes they can be great, but sometimes you just feel like they don't really care. And that can be really frustrating when you're dealing with the biggest financial transaction of your life.

Take this review as an example:

Smaller auction houses often take a much more personal approach. They know most people will go with the bigger company, so they really have to work hard to win your business. (And then to retain it).

That's not to say smaller businesses can't be bad too, but it's why we recommend trying one of each.

"Modern" auction houses vs "Traditional" auction houses

Modern Method of Auction (MMoA) has been around since about 2015. The term was first coined by IAmSold, and essentially the difference is this: 

• Modern auctions are like "eBay-style" auctions, where the auction runs for 28 days. (As opposed to an actual auction event happening on a specific date).
• Modern auctions allow more time after completion, and are conditional. This means it's easier for mortgage buyers to take part.

Traditional auctions and modern auctions each have their own sets of benefits and drawbacks. One will be a better fit for your property than the other, so it's worth having a chat with an auction house of each type.

Recommended:

• Everything you need to know about the Modern Method Of Auction.
• Traditional Auction Vs Modern Method of Auction: Which is Better?

We offer a free, impartial consultation to help you determine if you're a good auction fit. We'll also help you figure out if you should go for traditional auction or modern auction. (And if auction is the right fit, I can connect you with our #1 Leading Auction House in your area). Click below to book now:

2. Get auction appraisals

On to the next step.

An auction appraisal is simply a valuation. The auction house will assess your property, and let you know roughly what you may expect to achieve for it by selling at auction.

2.1. Estate agent valuations vs Auction house valuations

In general, auction house valuations differ from the one an estate agent gives you in one key way...

Auctioneers actually give you a valuation. Estate agents don't.

Estate agents give you a sales pitch. They want to impress you with how much they're going to sell the property for, because they know most sellers get 2 or 3 valuations then go with the highest. After all if they sign you up (even at too high a price) then at least they're in with a chance of selling it. If they lose you to a competitor then they've got no chance.

Auctions work differently.

Generally, the most important thing to an auctioneer's business is their success rate at auction. If they have a poor success rate then no one's going to use them in the future! With estate agents it just doesn't work the same way.

For auction houses, this means they can't just take on property at a price where it's unlikely to sell. It needs to be very realistic. And that's why you get more realistic valuations from auction houses than from estate agents.

In short, if the price they think you'll get via auction is just too low for you, then auction isn't right for you, or for them.

Get a free auction appraisal

We offer a free, impartial auction chat to help determine if auction's a good fit for you.

If it is, I can connect you with my #1 leading auction house in your area.

They'll give you an auction appraisal free-of-charge, as well as answering all your other auction questions.

Click here to book a call now →

2.2. Get multiple appraisals (and disclose any issues)

It's useful to get appraisals from each of the auction houses you've shortlisted so that you have a range of opinions.

Just be sure to disclose any issues to your auctioneer up front. For example, if you're trying to sell a house with subsidence then tell them that:

1. Tell them everything you know about the issue,
2. Share any structural reports you've had done,
3. And include any quotes you've had for remedial work.

Trust me, being open with your situation will help you in the long run.

Your auctioneer will know how the property should be valued, priced, and marketed - and that all benefits you.

2.3. Understanding the auctioneer's valuation

Don't let the auction rep just tell you the price though. Have them talk you through the detail, and why they expect your property to sell for that amount.

They should be able to show you similar properties that have recently sold either on the open market, or via auction.

The main thing you're trying to do here is check they've actually really spent some time on it for you, and are giving you a thoughtful valuation.

Feel free to go back and ask them questions too. If they've done a thorough valuation then they'll be happy to talk you through their research.

2.4. Decide if auction is right for you

Once you have the price feedback, you can decide whether or not auction's right for you.

If the prices are just too low compared to what you want or need, then selling through an estate agent might be the best bet. You'll usually get a higher price by going through the estate agents... It's just a longer wait and a less certain sale.

The free, impartial consultation we offer can help you determine if auction's a good fit. (And if auction is the right fit, I can connect you with our #1 Leading Auction House in your area). Click below to get started: 

3. Ask questions

Now that you've chosen two or three auction houses and they've spent some time looking at your property, it's time to pick one. The best way is to just ask any questions you've got on your mind.

Make sure you're completely comfortable with the process and exactly what'll be happening if you decide to move forward.

Here are a few ideas: 

1. What type of auction do they recommend? (Modern auction, or traditional auction?)
2. Do they think the property is suitable for auction? Why?
3. Will the person you're speaking with deal with your property throughout, or will someone else? 
4. What's their success rate at auction?
5. What happens if the property doesn't sell at auction?

There are a few undercover checks you can use that I highly recommend as well:

3.1. Quality-check their current listings

We recommend checking the other properties they've got listed for sale too. Find them on Rightmove and scroll through: 

• Are the pictures good quality? 
• Is there are floor plan or video tour? 
• Is there a detailed property description? 
• Is there information about the auction? 

That's what all your future buyers are going to be asking... So make sure the auction house ticks these boxes nicely!

3.2. Watch a live-stream

Whether you've opted for a modern or a traditional auction, you may be able to watch one online using EIG's live stream. Check their schedule here to find upcoming auctions.

Related: Read this case study of a reader who sold her house at auction. Make sure you check out the bidding timeline on there!

4. Decide on your reserve price

Once you've learned everything you can about the auctions you should know whether it's the right option for you or not. The next step is to set your reserve price.

Obviously we all want the highest price we can get when we come to sell our home. That's why estate agents set high asking prices on their properties and expect you to negotiate down from there.

This seems like a great idea... but there's one big downside.

By knowingly over-pricing your property from the start, you put a lot of people off. The property just looks expensive. And this makes it take much longer to sell your house.

4.1. How do auction prices work? 

Auctions work the opposite.

With auctions, you decide on the lowest price you'd be prepared to accept. That's set as your reserve price.

The next step is that auctioneers are then allowed to set a guide price up to 10% less than that.

The idea is that by setting the lowest price possible, you'll get the most interest possible. More interest leads to more competition, which leads to the highest price in the end.

The 10% Rule

If you want the lowest price possible, then why is the guide price only set 10% below the reserve price?

Auction houses used to set a much lower guide price, but the practice was banned. In 2014 the Advertising Standards Agency decided that setting a price any lower than 10% under the reserve price was simply misleading advertising.

4.2. Setting your reserve

Here are some things to consider when setting your reserve price: 

1. What's the lowest price you need to achieve? For example, what do you need to cover your mortgage, pay your fees, and come out with the cash you need to make your other plans happen? 
2. What's the lowest price you'd really be comfortable with? Auctions do come with a bit of risk. You want to set a lower price so you can get more interest. But remember... If the property doesn't get much interest (or if it wasn't worth as much as you'd hoped) it really might end up selling for the reserve price. So you need to be comfortable with ending up with that price.

Remember, you can always change your reserve price later on too.

You can decide to reduce it to boost the interest you're getting, or increase it because you're getting cold feet... It's up to you.

Once you've done your interviews and decided on your price, it's time to get the ball rolling.

Wondering if auction's the right fit for your property sale? Book a free, impartial chat with me for free help & guidance:

5. Instruct the auction house

Once you've decided on your reserve price and spoken with the auction houses, it's time to instruct the one you've decided to move forward with.

Call them back and get the ball rolling!

They'll send you through a contract, which you should read carefully. Here are some key things to look out for: 

1. Are there any extra costs for you? (Some auctions will charge more for photos, viewing appointments, and so on. Although this is rare, make sure you're aware of any beforehand).
2. Check the information about the fees. (Including who pays them - your buyer will often be responsible for them but that's not always the case).
3. What happens if you change your mind before the auction? (Are you tied in, or can you change your mind up until auction date?) 
4. What happens if your house doesn't sell at auction? (Will you automatically be enrolled into the next auction, or are you free to walk away if you like?) 

Read the contract carefully before signing. In particular, make sure the reserve price you decided on is the one on the paperwork.

Related: The Top 10 Do’s & Don’ts of Selling Your House at Auction [Expert Advice]

6. Sign up with the solicitors

Once you're officially "on board" with your auction house, the next step is to instruct your solicitor.

The auctioneer will often recommend one they're used to working with.

This can either be a really great choice, or a really terrible one.

6.1. Benefits of using the "recommended solicitor"

On the one hand, recommended solicitors may be the one who the auction house have screened most closely. They may even have service levels agreed with them, which almost guarantee you a high level of service.

Their close links with the auction house may guarantee great communication throughout too.

BUT... That's not always the case.

6.2. Disadvantages of using the "recommended solicitor"

We're going to say it. It's one of the dirty secrets of the property industry, but it's the truth: 

The recommended solicitor is sometimes just the one who pays the highest referral fee.

Their service may be terrible, but they give the auction house a very good reason to recommend them regardless. They pay them a hefty referral fee.

This money doesn't just come out of anywhere either. It comes from you: The solicitor you're recommended to may have the highest fee of any. This is how they can afford to pay the meaty referral fees.

In other instances the recommended solicitor may even be owned by the same company who owns the auction house. This leaves employees with no choice but to recommend them (even if they hate doing it).

6.3. Our advice on solicitors

The auction house really may be trying to do you a favour by putting you with an excellent solicitor. Just do some research to verify it:

1. Check out the solicitor's reviews online.
2. Don't just look at the good ones. Check the bad ones.
3. How many bad reviews are there? How regularly do they appear? 
4. Do the negative reviews have the same complaints about their service? (Or even name the same individual?) 

Remember, no solicitor's going to have a perfect track record. Property transactions are difficult and complex, and people are very emotional when they're selling their home. So a few negative reviews are to be expected to an extent.

But if you read through them and they aren't great, then question why they're being recommended to you. Ask the auction house to disclose any referral fee they're receiving and make your own mind up.

6.4. Signing up with your solicitor

When you sign up, you'll need to complete ID checks and an instruction form. This gives them the authority to act on your behalf. Take care of these bits as quickly as you can to keep the ball rolling!

Remember, you don't necessarily need to send off your original passport or driving license for the ID check. Your local post office will create and verify copies of up to 3 documents for £12.75. You can send those documents back to your solicitor, rather than risk losing your passport in the post!

Interested about potentially selling by auction? Book a free, impartial chat with me to find out if it's going to be the right fit:

7. Complete the legal pack

Once your solicitor's been instructed there are a few bits they'll need to get in place.

When people sell with an estate agent, these bits don't actually happen until the sale's been agreed.

Auctions work differently though.

Auction buyers get their solicitor to review the legal pack before they bid, rather than after the sale's been agreed. This is one of the main reasons so few auction sales fall through after the hammer falls.

7.1. You'll need to complete the Protocol Documents

Your solicitor will send you a couple of other documents you'll need to complete.

I'll be honest. This bit is no fun at all, but it has to be done.

They'll send you a couple of questionnaires you'll need to work through and complete. These are called the Property Information Form (TA6), and the Fittings and Contents Form (TA10).

(They say "form", but they're about 26 pages in total! ... And they're only getting longer)

If your property is a leasehold, you'll also have the Leasehold Information Form (TA7) to complete.

Although the forms are long they're pretty straightforward. It's loads of tick boxes for the most part, and you'll probably fly through them in about 20-30 minutes.

Just make sure you complete it accurately and disclose any issues where required. If you're unsure of anything just give your solicitor a call for their guidance.

7.2. Paying for Searches

Your legal pack should also contain the property searches. You'll have to pay for these - but the cost is included in the overall legal pack fee (which is usually around £300+vat).

Searches are basically all the important information about your property that comes from sources other than you. For example, searches include information from:

• Water and drainage (to show where the drains are, and how you're connected to the mains)
• The coal authority (in case any mines were nearby)
• The local council (in case planning has been granted for any large developments)

... And so on. Your solicitor will pull all the information together into the legal pack.

7.3. Remember to send any other relevant documents

If you have any other documents that are relevant to the sale, now's the time to send them.

These may include things like:

• Insurance policies (for velux windows, for example)
• Copies of planning permissions and building regulation compliance (if you've had an extension or loft conversion)
• Any surveys or quotes you've had relating to certain issues (for example, if your house has subsidence or Japanese Knotweed)

If you can't find any of these documents then don't worry too much. Your solicitor may be able to get a copy themselves, or there may be some other work around they can use.

Once your solicitor has everything they'll compile the legal pack ready for your buyers! 

The "legal" aspect is one of the big benefits of selling by auction.

By getting a legal pack prepared you give buyers the opportunity to do their due diligence before they bid on your property. This is one of the reasons auction sales can be binding, and why so few auction sales fall through.

If you're thinking about selling by auction, book a free, impartial chat with me. First, we'll work out if auction's a good fit for you and your property. If it is, I can connect you with leading auction houses near you (ones I know and trust).

8. The auction house creates the listing

While your solicitor's working through your documents and preparing the legal pack, the auction house will be getting everything ready for your listing. This includes the following: 

• High-quality photographs,
• Floor plan,
• And a property description.
• Some include video tours and even 3D renderings of the inside of the property.

The main thing is a solid, attractive listing with plenty of good photos.

Check your listing before it goes live

Make sure you check the listing before the auction goes live. You want an opportunity to check everything's right:

• Make sure the photos are good. (Don't accept poor ones, and if they're pixelised on the website then call the auction house and get them to sort it)
• Check the floor plan is accurate. (The software used to create these can be a little tricky to use, so it's not unusual to see a phantom door appearing) 
• Check the description is accurate.
• Check all the necessary information is included. (Things like the current rent, if it's tenanted, or the service charge and ground rent if it's leasehold. Anything else notable about the property should be included here too)

When you've seen the listing and once your legal pack's in place, you're ready to go live!

9. The listing goes live!

This is it. You're underway! Within a day or so your property should appear on the main portals (like Rightmove and Zoopla). It'll be on your auction house's site somewhere too, and probably on EIG. (EIG are an auction-only property portal).

The auction house will also contact ALL the buyers on their database who they think the property may be suitable for.

9.1. Viewing arrangements

Make sure you have viewing arrangements sorted with the auction house. Whether you're showing people around or they are, just be clear what the plans will be. (Some auction houses use services like Viewber, which is exactly what it sounds like. It's like Uber, but for house viewings).

If you don't live at the property then make sure that whoever will be conducting the viewings has a key already. There's nothing worse than delaying your buyers' attempts to view because of key confusion.

9.2. Set your expectations

Find out how the auction house expect things to go. This helps you benchmark how things are going, and can help keep you sane during the "waiting period".

It's also just helpful to know if things are going to plan or not.

Not all auctions will go the same.

For a more niche property it may take longer to get viewings and you may have fewer. For other properties, you'd be disappointed if there wasn't a flood of interest within the first week.

Getting a steer from your auctioneer on how they expect things to go will really help keep you sane, especially in the early stages. It'll also give you a cue if you need to reconsider the reserve price you set.

There's nothing else to do for now though. Just sit tight!

10. Wait… (For the auction date)

There's not much more to say! We're just waiting for buyers to do their thing at this point.

Here's what will be happening on the buyers' side of things:

1. They'll come across the property either by finding it online, or by receiving calls or emails from the auction house.
2. They'll be valuing the property remotely and assessing how it fits their investment criteria. This is to see if it's worth them viewing it.
3. They'll be arranging viewings and then coming to see it.
4. They'll have their solicitor review the legal pack, and may even arrange a survey.

Related: How Long Does It Take to Sell a House at Auction? (Best & Worst Cases)

10.1. Get weekly updates - at least

You should hear from the auction house at least weekly. They'll usually be keen to update you and let you know about any progress they're making.

If you haven't heard from them in a week or so then get in touch. Make sure they get in the habit of calling you with regular updates as things progress!

10.2. What if things aren't going to plan?

If things aren't going to plan then ask for your auction house's feedback. Push them to see if there's anything else they can be doing to generate more interest.

The main thing you're trying to do here is be the squeaky wheel. After all, the squeaky wheel's the one that gets the grease. Staying front-of-mind with your auction rep can make all the difference, so keep in touch with them.

Hopefully things are progressing nicely though, and you'll be getting plenty of viewing requests.

11. Conduct viewings for interested buyers

As people who want to buy your house express interest, make sure they're able to view the property.

Sometimes it'll be you showing buyers around. Ideally it'll be the auction house themselves though.

SDL Auctions are one auction house who prefer to host the viewings themselves: “Don’t worry about viewings. We will carry out the group viewings for you with one of our accompanied viewers.” - source.

11.1. "Open house" viewings

The preferred type of viewings are "open houses", also called "group viewings" or "block viewings". This is when multiple buyers all arrive within a short window so the viewings end up overlapping.

Open houses are great for two reasons.

1. They're convenient. There's no point doing 10 separate viewings if you can do 10 viewings all at once... Convenience isn't the main reason though.
2. Open house viewings drive competition. Buyers see other buyers who are also interested in the property. This seems to "stoke the flames" of our inner competitiveness, and can result in higher bids!

So these open houses help create the competitive bidding environment, which is one of the major benefits of selling by auction.

To find out if auction's right for you and your property, book a free, impartial chat with me. It takes just 1-2 minutes to book a slot, and if auction is the right fit, I can connect you with our #1 Leading Auction House in your area:

11.2. Due diligence

Once buyers have viewed they'll do more due diligence. This may include getting their solicitor to review the legal pack, and getting a survey. If they want a survey, go ahead and let them. They'll get it done at their cost after all.

Legal pack downloads

The auction house should be able to tell you how many times the legal pack has been downloaded. This is a handy stat to keep track of as it gives you a bit of an idea how many buyers are serious about the property. (This doesn't mean they'll bid - but it's certainly a good sign).

Viewings and due-diligence aren't the only things buyers will be doing though... Some will be making offers to try and tie a deal up with you before the auction!

12. Consider pre-auction offers

If a buyer submits an offer then your rep at the auction house will be straight in touch with you. You may receive offers less than the reserve price... But you may receive some that actually exceed it.

Martin Bond from Martin Bond Property Auctions says around 15% of properties attract pre-auction offers:

"Most pre-auction offers are well below the reserve price, but there are two things a seller should take from it: 

1. Pre-auction offers usually indicate that the property is well-priced.
2. It's likely to find success on auction day."

12.1. Should you accept an offer before the auction?

This is the ultimate question. There are arguments both ways.

On the one hand, since you've entered the auction it seems to make sense to let the buyers fight it out for the day. After all, chances are that your interested buyer will be there on the day anyway.

And as Martin says, pre-auction offers are usually a positive sign that you're looking to do well on the day.

But what happens if there's no one bidding against them on the day? Without any competition they may end up getting it for less on the actual auction day...

So it's not a clear cut choice!

Related: What happens if there's only one bidder in a property auction?.

If you auctioned your property because you wanted to sell your house fast then it can be really appealing to just take the offer.

So how do you make the decision?

12.2. Consider how much interest you've had

Unless you really just want a fast sale, consider how much interest there's been so far. If you've had lots of viewings and the legal pack has been downloaded multiple times then it may make sense to stick it out.

You can ask your auctioneer for advice, but we'd suggest taking their comments with a pinch of salt. They may be keen to just get the deal done. After all, they'll probably be paid about the same, and it saves them a ton of work! 

It's really a decision you need to make for yourself. Whichever you decide, make the best decision you can given the information you've got, and don't look back. Don't let yourself regret it afterwards!

13. Auction day!

Now it's time for business. You're going to star in your very own "Homes Under The Hammer" episode.

The nerves and excitement of selling a property at auction are pretty unparalleled. You can make thousands of pounds more (or less) than you hoped... And it's all going to be decided over the course of just a few minutes. Even Vegas doesn't compare to that.

Related: How long do property auctions last?.

Managing your expectations in the run up to the auction is important. It's best to approach it expecting no more than your reserve price.

‍Try and see it this way: 

• If it sells for the reserve, then you got the price you were happy with. Try not to be disappointed you didn't get more!
• If the highest bid is any less than your reserve, then the property fails to sell... But at least you get another go at selling.

Try not to imagine it selling for tens of thousands more than your reserve price. It sometimes will... But letting your expectations creep upwards can line you up for disappointment! 

Focus on your original goal: To get a straight-forward, fast house sale at or above your reserve price. If it sells, then you got what you wanted!

Auctions can be a valuable tool for a quicker sale. Book a free, impartial chat with me to learn whether auction's the right fit for you: 

So assuming you don't let your expectations creep too high, the only room for disappointment is if the property doesn't sell...

13.1. What if your house doesn't sell at auction? 

The game's not over just yet. The auction house will continue trying to get you a sale. They'll start behind-doors negotiations with any of the interested parties to see if they can get you an offer.

‍You'll have the opportunity to negotiate too, so if you'd actually like to accept an offer below your reserve price, you can.

Any sale you agree at this point will still be under auction conditions. This means the buyer still needs to pay a hefty deposit or reservation fee, and will be bound by the terms of the contract. This means they still need to complete quickly, and you'll get the fast sale you were hoping for.

Related: What happens if my house doesn't sell at auction?

14. Solicitors take care of the rest

When you sell your house through an estate agent, finding your buyer and agreeing a sale is actually the easy part. The hard part is getting the sale completed. Things seem to drag on indefinitely, and the whole sale can fall apart at any minute.

It's not the same with property auctions.

Your buyer is contractually bound to complete on a certain date in the future. It's usually 4 weeks from the auction date, but can be longer in the case of a Modern Auction.

This means auction sales just don't drag on the same way normal house sales do.

They don't fall through the same way either: Auction sales have approximately a 1% fall-through rate. (Compared to 25-40% fall-through rate for estate agent sales, according to data from TwentyCI's Property & Home Mover Report and the Office For National Statistics).

Our own survey, conducted in 2022, found the same: 31% of property sales through estate agents fall through.

Because you sold at auction, it's unlikely you have to worry about this though! So just sit back, take the win, and let the solicitors get you through to completion.

15. Hand over the keys

When completion day finally arrives you'll just need to hand over the keys.

Sometimes you'll arrange to meet the buyer directly, other times you'll simply leave them with a local solicitor, estate agent, or the auction house themselves. The buyer then collects them from there once completion has taken place.

Solicitors will sort the funds out too:

1. First, they'll pay their fee from the money they've received from the buyer's solicitor. (This means you don't actually have to pay their fee out of your own pocket).
2. Next they'll pay off any mortgages (if applicable).
3. Finally the solicitor will pay any remaining funds through to you.

Of course, if you're selling a property as part of an inheritance then it's likely the funds will be sent to the probate solicitor, who'll split them up and pay them out accordingly.

And that's it. You've sold your house, and you've got your money. Congratulations!

Key Takeaways

So that is exactly how you sell your house by auction. (If you've read any of our guides before you'll know that we're not light on detail... And this article was no different!)

I hope it's been helpful. If you think it has, please share on social media or send to a friend or family member who might find it useful.

The key takeaways are this: 

1. Determine if auction's right for you. (Click the link above to book a free call with me. I can hep.)
2. Find the right auction house for you and your property. (Again, if you want help with this, book a call with me. If auction's a fit, I'll connect you with my #1 Leading Auction House in your area).
3. Let them guide you through the process. They're there to help you! Selling your property by auction is much more straightforward than selling via estate agent, and your auction rep will usually be very hands-on throughout the process.
4. Be responsive with your paperwork, and be patient during the process! Auctions are a fast way to sell, but being patient throughout the process will help keep your nerves down when auction day rolls around.

Selling your house at auction

Auctions are a great way to get a fast sale at a reasonable price.

Do you want to get started? Here's what to do next: 

1. Hit the button below to book a free, impartial chat with me.
2. First, I'll help you determine if auction's right for you.
3. If auction is a good fit, I can connect you with my #1 Leading Auction House in your area.
4. One of their auction experts (someone I know and trust) will be on hand to personally answer all your auction questions, and get you a formal auction valuation.
5. It's totally free, and there's no obligation. If you're consider auction then click below. It takes just 1-2 minutes to book a call.

Read More:

• 17 Benefits of selling your house by auction
• What types of property are suitable for auction?
• Find the best auction house.