How To Sell Your Home At Auction

Selling your home at auction means you can benefit from a quick sale and certainty that the buyer will not drop out. Once the home is sold, the buyer must pay the 10% deposit, then the remainder within 28 days. 

Maximize Your Price 

We see many properties come onto the market with various agents and need to reduce the price in order to achieve a sale. Auction is the complete opposite; it starts with an attractive price guide to stimulate interest and reach a higher selling price. A unique marketing tool in maximizing the selling price through high profile marketing, inviting serious proceedable buyers to accumulate in one place, encouraging direct competition resulting in the best price being achieved for your property. 

Should You Accept Offers In Advance Of The Auction? 

Although there are no rules to say you cannot, why would you pay fees and sell it before you’ve even put it to auction? If a buyer tries to persuade you to sell before going to auction, you know they’re keen to buy the home. So, why not let them fight it out with all the other potential buyers. If they’re that keen they’ll be happy to pay what it’s really worth - potentially maximizing your price! 

What Is The Reserve Price?

The reserve price is set by you and your home CANNOT be sold a penny below this figure. This is kept private between you and the auctioneer. If all the offers are lower, the auctioneer will withdraw the property from the auction.

Your Guide Price

Your Auctioneer will help to set your guide price. The public are allowed to see this price and it can be a tool to lure prospective buyers ahead of the auction; it is just an idea of what your home is worth. 

Marketing Your Auction Home

Marketing your auction home is not too different from any other residential listing. From high profile marketing across property portals and social media, to mailing list emails sent directly to the ideal buyer; the pros of a proactive agent that can offer a forward-thinking approach to selling your property. 

In Partnership With Agents Property Auction, There Are Two Types Of Auction Available With Michael Poole 

OPTION 1

• Traditional Auction
• Immediate exchange with 10% deposit (minimum of £3000)
• Buyer legally committed to purchase
• 28 days to complete
• No ifs or buts!

OPTION 2

• Designed for the private residential house sale
• Buyer places a £3000 non refundable deposit which is taken as part payment of the house price (not an additional fee)
• 28 days to exchange (time for buyers to obtain a mortgage) then 14 days to complete

Thinking of selling at one of our property Auctions? Have a look at our case studies here.