Published: 30/09/2024 By The Property Auction Group

A Complete Guide to Selling Property at Auction

Selling your property at auction is an increasingly popular choice for homeowners, landlords, and investors looking for a faster, more secure sale. At The Property Auction Group, we offer both traditional auctions and the Modern Method of Auction, giving you the flexibility to choose the approach that best suits your circumstances.

Whether you're looking for speed, certainty, or maximum exposure, this guide will help you understand how selling at auction works—and why it could be the right choice for you.

Why Sell at Auction?

Auction sales offer a range of advantages compared to traditional estate agency methods:

• Speed: Properties can sell in as little as 28 days.
• Certainty: Once sold, the risk of fall-throughs is significantly reduced.
• Competitive bidding: Multiple buyers competing can drive up the price.
• Transparency: A clear, open process with no drawn-out negotiations.
• Serious buyers: Auction buyers are committed and financially prepared.

Choosing the Right Auction Method

At The Property Auction Group, we provide two key selling options:
 1. Traditional Auction
This is the ideal choice if you want a quick, definitive sale.

• Your property is listed in our auction catalogue and marketed ahead of the auction date.
• Buyers bid in a live auction environment (in person or online).
• When the hammer falls, contracts are exchanged immediately.
• The buyer pays a deposit (usually 10%) on the day.
• Completion typically takes place within 28 days.

Key Benefits:

• Fastest route to completion
• Legally binding sale on auction day
• Ideal for motivated sellers or those needing certainty

This method is particularly suited to vacant properties, investment opportunities, or homes requiring refurbishment.
 2. Modern Method of Auction (MMoA)
This method offers more flexibility and can attract a wider pool of buyers.

• Your property is marketed online and open for bidding over a set period.
• Buyers place bids digitally, increasing accessibility and engagement.
• When the auction ends, the winning bidder pays a reservation fee.
• The buyer then has a set timeframe to exchange contracts and complete.

Key Benefits:

• Larger buyer pool, including mortgage buyers
• No upfront costs for the seller in many cases
• Flexible timelines
• Reduced risk of fall-through compared to private treaty

This is a great option for sellers who want to maximise interest and achieve the best possible price while still benefiting from the structure of an auction.

Step-by-Step Guide to Selling at Auction

 1. Property Appraisal
Our team will assess your property and recommend the most suitable auction method, along with a realistic guide price and reserve.

 2. Instruction & Legal Pack
Once instructed, a solicitor prepares a legal pack containing all necessary documents for buyers to review before bidding.

 3. Marketing Your Property
We promote your property across major property portals, our website, and our buyer database to generate strong interest and competition.

 4. Viewings
We arrange and manage viewings to ensure maximum exposure to potential buyers.

 5. Auction Period

• Traditional Auction: Your property is offered on a fixed auction date.
• Modern Method: Your property is available for bidding over a set online period.

6. Sale Agreed

• Traditional Auction: Contracts are exchanged immediately when the hammer falls.
• Modern Method: The buyer pays a reservation fee and proceeds within the agreed timeframe.

7. Completion
The sale is finalised within the specified timeframe, and funds are transferred to you.
Costs to Consider

Selling at auction is often more cost-effective than you might think. Depending on the method chosen, costs may include:

• Auction entry or marketing fees
• Legal pack preparation
• Commission or buyer’s premium (varies by method)

Our team will clearly explain all costs upfront so there are no surprises.

Tips for a Successful Auction Sale

• Set a realistic reserve price: This encourages bidding and helps avoid unsold lots.
• Prepare your property: First impressions matter—presentation can impact bidding.
• Choose the right method: Consider your priorities—speed vs flexibility.
• Work with experienced professionals: Our team will guide you through every step.

Final Thoughts

Selling your property at auction can deliver speed, certainty, and competitive pricing—all in a transparent and structured environment. With both traditional auctions and the Modern Method of Auction available, The Property Auction Group offers tailored solutions to suit every type of seller.
If you're considering selling, speak to our team today for a free, no-obligation appraisal and discover how auction could work for you.
The Property Auction Group – A smarter, faster way to sell property.