Selling a house at auction, especially online auctions, offer one of the fastest, most transparent and effective ways to sell property and land, view our guide here: How to sell your home at auction. It’s so much easier than you may think, offering a high degree of certainty that contracts will be exchanged on the auction day. The entire sales process, from instruction to exchange of contracts, is achieved in as little as four to six weeks, with the security of a 10% deposit and completion within 20 - 30 working days.
The benefits of selling property at auction:
- Certainty: Contracts are exchanged on the day of the auction
- Speed: Instruction to exchange can take as little as four to six weeks
- Transparency: All interested buyers bid publicly for the property or land
- Extensive Marketing: Your property is promoted to the UK and beyond through a comprehensive marketing campaign
If you're still unsure, we've got a great article on: Dispelling the myths around selling a property at auction.
A guide to selling property at auction
The first step to selling a house at auction is the inspection. We will inform you of the value of your property or land and advise you on the best way to sell your property.
When the property is advertised for sale by auction we will agree a confidential reserve price, which is the minimum amount that the property can be sold for.
A comprehensive and extensive marketing campaign is utilised to encourage as much interest as possible prior to auction day.
Your solicitor will need to prepare the legal pack which we need to provide to prospective buyers to view before they bid on your property at auction.
Set viewing times are publicised for prospective buyers to inspect the property and are carried out by our local property experts.
Our auctions take place online, where all interested parties come to bid against each other, in a transparent environment.
Contracts are exchanged with the highest bidder once the reserve price has been met. The buyer will then sign the sale memorandum and pay a 10% non-refundable deposit.
Completion normally takes place just 20 working days (4 weeks) after the auction as per the special conditions of sale, when the balance of the purchase price is paid.
You can trust Romans Auctions
Helping customers sell property and land at auction since 2002.
Meet your auction experts
Simon Clayton
Manager and Auctioneer
Simon has worked in the property industry for over 30 years and is a qualified member of the National Association of Valuers and Auctioneers.
Gareth Bell
Auctioneer
Gareth has worked in the property industry for over 25 years. For 17 years he has worked as an auctioneer overseeing residential and commercial disposals.
Daniel Gale
Surveyor
Daniel has worked in the property industry since 2006. He has considerable experience in both residential and commercial property.