Sell your house at auction using the Modern Method of Auction

Your Move can offer a revolutionary online property auction system which can allow customers to sell their properties quickly, for the best price possible and without having to pay any agency fees.

You can set a minimum reserve price when selling your house by auction, enabling you to be in complete control of the process and log onto the site to see how many watchers and bids your property is receiving.

Get in touch

The key reasons to sell at auction

-

Speed

Fixed but realistic time-frames allow for greater interest from a wider variety of buyers. Exchange and completion within a swift 28-56 days.
-

Security

In addition, the buyer signs a reservation agreement, committing them to the sale for further seller security.
-

0% Commission

Vendors pay no estate agency fees and keep the full selling price.
-

Maximise Interest

Potential for greater exposure and increased interest, which may lead to a competitive bidding between prospective buyers which naturally drives up the final selling price.

A step by step guide to how it works

  1. Let’s start at home

    We’ll discuss and agree an undisclosed Reserve Price (the price your property will not sell for any less than) and a Starting Bid (the price that the property is marketed to generate interest).

  2. Preparation

    Your estate agent will prepare all property details, take photographs and arrange the EPC if required.

  3. The Auction Pack

    The team will begin preparing the Auction Pack including all legal documentation. The cost for the pack is only payable by you IF your property sells.

  4. Pre-Auction Marketing

    We begin to advertise your property whilst the Auction Pack is being prepared, to generate as much exposure, interest and viewings as possible.

  5. Ready, set, go!

    Once the Auction Pack is complete an end date and time is set on your bespoke auction and your property goes ‘live’, meaning bids can be made via the online or room auction.

  6. Bidding

    All prospective bidders must download the Auction Pack and accept the terms before bidding. Bids can be viewed and made online, over the phone or in person at a live auction event.

  7. Once the auction ends...

    When using the modern method of auction the successful buyer is required to pay a Buyers Reservation Fee and sign a Reservation Agreement. The property is then reserved to the buyer. The buyer and seller are then required to unconditionally exchange contracts and complete the transaction within 56 days.

    If using the traditional method of auction, contracts are exchanged immediately with completion taking place within the next 28 days. Complete security is provided but this method is more suited to the ready cash property professionals as it is legally binding.

  8. 0% agency fees

    Our expert Sales Progression team will help to take the sale through to completion, keeping you updated every step of the way.

Sell your property by auction

To start the selling process, book a valuation and we will be able to advise you on the best option to sell your property. Whether that is selling by the modern method of auction at 0% agency fees or the standard process at variable fees, on the valuation you can receive information for both.

Take a look at our frequently asked questions to find out more about the process of selling at auction. 

Talk to us about the best option for you

Book a FREE property valuation to find out more. Start by entering your postcode now...

Yes
No
Over 14,698 Google reviews
Rated 4.6
Review starReview starReview starReview starNo review star
Rated 4.6 by over 14,698 happy customers

Frequently Asked Questions about selling property by auction

Will selling by auction maximise my chances of selling?

There are two components needed to maximise the chances of selling through auction; a motivated and realistic seller, and secondly, great marketing exposure. Our marketing strategy will guarantee you the fairest price in the current market for your property. If you decide to explore the auction route further, a member of our Auction Department will discuss the most effective pricing strategy to maximise interest on your property.

Do I have to accept the highest bid?

No, all properties are sold with an undisclosed minimum reserve price (agreed with the seller). The only price the public sees is the starting and actual bids; the reserve price remains confidential. Once the reserve price has been met and the auction is closed the sale will proceed. A Reservation Fee/Deposit is then taken. If you choose to pay no sales fees, the Reservation Fee will not form part payment of the purchase price but will be paid in addition to cover the costs of the process.

Can I accept bids before the Auction has started, or before the auction is due to end?

Yes. You can accept a bid to sell the property before the auction has finished. By law we are duty bound to put any offer forward to you. It will then be up to you to decide if you want to consider the offer and take the property out of the auction early.

How quickly will I have to move out?

Depending on which auction option you select this can be decided by you but will generally be between 28 – 56 days.

If the prospective buyer does not agree to pay the fee, will I lose my offer?

The law requires that any offer made to purchase your property must be passed on by the agent unless you have said that offers of a particular type are not to be advised to you. If the prospective buyer does not agree to pay the fee, the agent should advise you accordingly and seek your instructions.

If the buyer then refuses to pay, will I have to meet the agent’s fee?

This will depend on the specifics of your individual contract(s) with the agent. The agent should explain this clearly to you before you sign anything. The buyer has entered into an agreement to pay the fee so it is for the agent to pursue the buyer, but the agent must make clear to you what will happen in such circumstances