How it works
How house auction works? Four steps from valuation to sold.
Here’s how house auction works, from your free valuation to the fall of the hammer, with a plain-English walk through what we need from you at each stage.
- Four clear steps
- Reserve price is your floor
- Buyer pays the reservation fee
From valuation to sold
What happens, in order
- Step one
- Free valuation
- Step two
- Prepare and set reserve
- Step three
- Go to auction
- Step four
- Complete in 28 or 56 days
Your reserve price is the floor a bid must reach.
Who does what
What happens, and who handles each part.
We value and advise
A free valuation and an honest view of whether auction is the right route.
We prepare the sale
We help agree your reserve price and get the legal pack ready with your solicitor.
You stay in control
You set the reserve price and you choose the 28 or 56 day track.
How house auction works for the seller?
The answer is four clear steps, from valuation to completion, with the same fixed timetable every time. This page sets out each step in plain English, so you know what to expect before you commit.
Buying and selling guidance
For the wider steps involved in buying and selling, the government’s guidance on buying and selling your home is a useful reference alongside this page.
Step by step
How house auction works for the seller, step by step?
Get your free valuation
Tell us about the property, your timescale and what matters most. We give you an honest view of auction value, and tell you if the open market would serve you better.
- You: Share the address and your situation
- We: Give a straight view, with no pressure
Prepare
We agree a reserve price with you and coordinate with your solicitor so the legal pack is complete before the property goes to auction.
- You: Instruct your solicitor and provide documents
- We: Advise on price, reserve and timing
Go to auction
Your property is promoted to buyers through our network of auction partners. We keep you informed on interest before the sale.
- You: Allow viewings
- We: Keep you updated on enquiries
Fall of the hammer and completion
When your reserve is met and the hammer falls, the buyer pays non-refundable money immediately. You then complete in 28 or 56 days, depending on the track.
- You: Complete with your solicitor
- We: Guide you through to the finish
Online bidding
Selling your house in online house auctions
Online house auctions let you sell from your sofa. Your property is listed on a bidding platform, buyers bid in real time from anywhere, and the sale completes on a fixed timetable. You still get a personal valuation first and a reserve price that you set yourself.
Fees work the same way as any auction sale. The buyer pays the reservation fee when the lot is reserved, with a minimum of £6,000 plus VAT. An unconditional buyer also pays a 10% deposit, minimum £3,600, and a £780 admin fee including VAT. You pay a 0% sales fee.
- Bidding is open to everyone. Buyers can watch the listing, register and bid from any device, so your property reaches far more people than a single room on the day.
- The guide price is public, the reserve is not. The advertised figure is a starting bid. Your confidential reserve sits underneath it, and the property will not sell below that.
- Buyers see the legal pack and video viewings up front. That tends to bring in serious bidders who have already done their homework.
- The timetable is fixed. An unconditional sale completes in 28 days. A conditional sale completes in 56 days.
The timetable
28 or 56 days to complete
You choose the track. Either way, the buyer has paid non-refundable money before you do anything else.
Unconditional: 28 days
The buyer pays a 10% non-refundable deposit (minimum £3,600) and a £780 admin fee immediately and is legally bound on the spot. Completion follows in 28 days.
Conditional: 56 days
On reservation lots, the buyer pays the non-refundable reservation fee immediately at the fall of the hammer. They then have 28 days to exchange contracts and pay the deposit, and a further 28 days to complete, 56 days in total.
Timings are typical and can vary by auction partner. The legal steps described follow England and Wales; the process in Scotland differs.
Your protection
You set a reserve price, so it never sells for less than you will accept.
The reserve is the lowest price you are willing to accept. It is agreed with you before the sale, and the property is only sold once bidding reaches it. You decide the number, with our advice on where to pitch it.
Get ready
What to have to hand before we start
A complete legal pack is the biggest factor in a smooth sale. You do not need everything yet; we will help you chase it.
- Proof of identity and ownership
- Photo ID and details of who owns the property.
- Title documents
- Land Registry title and any deeds you hold. Your solicitor can obtain the rest.
- Energy Performance Certificate
- Required for marketing. We can point you to how to get one quickly.
- Property information
- Standard forms your solicitor prepares covering boundaries, disputes, fixtures and contents.
- Tenancy details, if let
- Tenancy agreements, rent and deposit information.
- Guarantees and permissions
- Planning permission, building regulations and warranties for any work done.
FAQs
Questions we hear most
How long does a sale take?
You choose. On the unconditional track the buyer is bound on the day and completes in 28 days. On the conditional track they have 28 days to exchange contracts and a further 28 days to complete, 56 days in total. Timings are typical and can vary by auction partner.
What is a reserve price?
The lowest price you are willing to accept. You set it with our advice, and the property is only sold once bidding reaches it, so it never sells for less than you want.
Free valuation
Tell us about the property. We’ll tell you the truth.
A short, honest conversation about whether auction is the right route, and what a sensible next step looks like.
- A personal replyFrom a person, usually within one working day.
- No obligationNo pressure and no hard sell.
- Your details stay privateUsed only to respond to your enquiry.
Get your free valuation
Tell us about the property and we'll come back with an honest view of auction value.
