property marketing · vendor's guide
Selling at
auction —
your guide.
Auction suits specific properties and specific situations. Here is how the process works for vendors — from the initial appraisal to completion.
is auction right for your property?
- Probate & estate sales A defined timeline and certain exchange suits executors and beneficiaries who need a clean, reliable transaction.
- Investment & HMO stock Auction attracts the investor pool who can move quickly and without mortgage contingencies.
- Unique or unusual properties Competitive bidding often achieves stronger prices than private treaty for properties without clear comparables.
- Development opportunities Buyers who understand planning and development risk typically prefer the speed and certainty of the auction route.
Not sure if auction suits your property? Talk to us →
What auction
gives you
as a seller.
Certainty of sale
In a traditional auction, exchange is immediate and legally binding the moment the hammer falls. There is no chain to collapse, no buyer to change their mind, and no survey to derail the sale. For sellers who need a defined outcome — not a probable one — auction delivers it.
Competitive price discovery
Transparent, live bidding means buyers compete openly. The guide price generates interest; the auction itself drives the price to genuine market value. Properties that attract multiple interested buyers often exceed the expected sale price.
Protected by the reserve
You set a confidential reserve price — the minimum you will accept. The property will not sell below this regardless of bidding. If the reserve is not met, the property does not sell. You retain full control over the floor of the transaction.
Step by step.
Exchange is immediate. Completion in 28 days. Best for investment stock, probate, and properties needing a defined timeline.
The traditional auction is the most certain route available in the property market. When the hammer falls and the reserve has been met, contracts exchange at that instant. The buyer is legally committed. There is no negotiation period, no chain risk, and no survey contingency to manage.
The legal pack must be ready before marketing begins — buyers review it during the marketing period, not after. This means your solicitor needs to be instructed early. Hauseit manages the rest: pricing, marketing, viewings, and the auction itself.
Initial appraisal and route decision
We assess your property and confirm whether traditional auction is the right fit. It works best for properties with clear titles, likely cash buyers, or situations where speed and certainty matter more than maximising every last pound.
Legal pack prepared by your solicitor
Your solicitor prepares the legal pack — title documents, property information forms, searches, and any special conditions of sale. The pack must be ready before marketing begins, as buyers have the right to download and review it before they bid.
Instruct your solicitor as early as possible — the legal pack is the buyer's due diligence document.Set your confidential reserve price
We agree a confidential reserve with you — the minimum you will accept. The guide price (the marketed price) is typically set near or slightly below the reserve to generate competitive interest. The property will not sell below your reserve regardless of bidding.
Marketing period — 2 to 4 weeks
The property is marketed for 2–4 weeks before auction day. We manage all marketing through the Bamboo platform and our own channels, arrange viewings, and field enquiries from prospective bidders and their solicitors.
Auction day — live online bidding
The auction runs online via the Bamboo platform. Bidders compete in real time. Any competitive bid placed in the final five minutes extends the timer by five minutes — the auction ends only when bidding stops. You do not need to attend; we manage the process.
Hammer falls — contracts exchange
If a bid exceeds your reserve when the auction closes, contracts exchange immediately. Both parties receive a memorandum of sale. The buyer's 10% deposit is payable the next working day, held by their solicitor.
Completion within 28 days
Both solicitors manage the conveyancing through to completion, which takes place within 28 days of the auction close. If the buyer fails to complete, the 10% deposit is forfeited — your sale is protected by the legal commitment made on the day.
Step by step.
Reservation fee protects you. Wider buyer pool including mortgage buyers. Best for owner-occupied homes.
The Modern Method of Auction uses the same competitive online bidding platform as the traditional format, but the commitment when the auction closes is different: the buyer pays a non-refundable reservation fee and enters an exclusivity period to exchange contracts. This opens the buyer pool to include those purchasing with a mortgage.
For sellers of owner-occupied homes or properties likely to attract a mixed buyer profile, MMA often generates more viewings and stronger competitive interest than a traditional auction lot, while still providing meaningful protection — if the buyer withdraws, the reservation fee is forfeited and you are free to re-list.
Appraisal and route selection
We assess whether MMA is right for your property and timeline. The modern method suits owner-occupied homes and any property where a broader buyer pool — including mortgaged purchasers — is likely to improve competition and achieve a stronger price.
Legal pack prepared
Your solicitor prepares the legal pack. Unlike the traditional route where due diligence is entirely pre-auction, MMA buyers have some post-auction time — but a complete, well-prepared legal pack still signals a credible, professional listing and helps buyers bid confidently.
Instruct your solicitor early — buyers want to see a ready legal pack.Set your reserve price
A confidential reserve is agreed. The guide price is marketed to generate interest. The reservation fee — paid by the buyer on winning — is set as part of the auction terms and clearly disclosed to all bidders before they register.
Marketing period and viewings
The property is marketed for 2–4 weeks. Viewings are arranged in the usual way. Because MMA welcomes mortgaged buyers, the buyer pool is typically larger than a traditional auction lot, which tends to drive more viewings and competitive interest.
Auction day — online bidding
The auction runs online. Bidders compete live or via proxy bid. Competitive bids in the final five minutes extend the timer by five minutes. You do not need to attend — we manage the auction completely.
Buyer pays the reservation fee
When the auction closes and your reserve has been met, the buyer pays the reservation fee immediately. This is non-refundable if they withdraw — it protects your position during the exclusivity period. You cannot accept other offers during this window, but you are protected if the buyer defaults.
Exchange within 28 working days
The buyer has 28 working days to exchange contracts. Your solicitor works with the buyer's solicitor through the conveyancing process. Exchange makes the sale legally binding on both sides.
Completion
Completion takes place approximately 10–14 working days after exchange. You receive the full purchase price (less agent fees and legal costs) and the transaction is complete.
Which route
suits your property?
| Traditional | Modern Method (MMA) | |
|---|---|---|
| Exchange of contracts | Immediate on auction close | Within 28 working days of auction close |
| Completion timeline | Within 28 days | 10–14 working days after exchange |
| Buyer commitment on winning | 10% deposit next working day | Reservation fee (non-refundable) |
| Buyer pool | Cash buyers and pre-arranged finance only | All buyers including mortgaged purchasers |
| If buyer defaults | Deposit forfeited + further liability | Reservation fee forfeited; you can re-list |
| Legal pack timing | Must be ready before marketing | Must be ready before marketing (buyers expect it) |
| Best suited to | Investment stock, probate, development, HMO | Owner-occupied, family homes, mixed buyer profile |
| Our involvement | Full — appraisal, legal pack guidance, marketing, auction management | Full — same as traditional |
Seller questions,
answered.
ready to list?
Let's talk about
your property.
Tell us about your property and we will advise honestly on whether auction is the right route, which format suits it, and what guide price and reserve we would recommend.
