FAQs
Property auction FAQs, answered plainly.
Property auction FAQs, covering the questions sellers ask us most, with straight answers on fees, timings and what happens if things change.
- Fees and costs
- Timings
- Your protection
The short version
Fees, timings and your protection
- Sales fee
- 0%
- Reservation fee
- Paid by the buyer
- Reserve price
- Set by you
- Completion
- 28 or 56 days
Full answers below.
Find your answer
The questions that matter most.
Fees and costs
What you pay, and what you do not.
How the auction works
From your valuation to the fall of the hammer.
Your property
Condition, leases and what suits auction.
Property auction FAQs - common questions
The answers above cover the questions sellers ask most often. If yours is not listed, the guides linked from this site go into more detail, and the free valuation is the quickest way to talk through your own property.
Buying and selling guidance
These property auction FAQs cover the questions sellers ask most. For the official steps involved in selling a home, see the government’s guidance on buying and selling your home.
Fees and costs
Does it cost anything to sell with Zelto?
There is a 0% Sales Fee: no commission, no agency fee and nothing deducted from the sale price, so you keep 100% of it. As with any property sale, you still pay your own solicitor’s conveyancing costs.
Who pays the reservation fee?
The buyer, not you. On reservation lots it is non-refundable, set at 5% + VAT with a minimum of £6,000 + VAT, and it does not count toward the purchase price.
How does that compare with an estate agent or a cash buyer?
Estate agents typically charge 1 to 3% commission. Cash buyers typically offer 25% or more below market value. With Zelto you pay a 0% Sales Fee and the price is set by competitive bidding, with your reserve price as the floor.
Do I pay anything upfront?
No. There is nothing to pay upfront. The 0% Sales Fee means there is no commission structure to begin with, so your only cost is ever your own solicitor’s conveyancing fees, the same as with any property sale.
How the auction works
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.
What happens when the hammer falls?
On both tracks the buyer pays a non-refundable deposit and a £780 admin fee immediately. On the unconditional track they also pay a 10% non-refundable deposit (minimum £3,600) and are legally bound on the spot.
What if the buyer pulls out?
They lose the non-refundable money they have already paid, not you. That is the main difference from the open market, where a buyer can walk away and lose nothing.
Your property
Is auction only for distressed sellers or run-down properties?
No. Any type of property is suitable.
Can I sell an inherited or probate property at auction?
Yes, and it is a common reason people sell this way. Timing depends on having the legal authority to sell in place, so speak to your solicitor early and we will plan around it.
Legal and scope
Do you cover the whole UK?
Yes. We work across the UK through our network of auction partners.
Is the process the same in Scotland?
Not exactly. Scotland’s legal system differs, including missives and an earlier point at which a sale becomes binding. Wording on this site about exchange of contracts follows England and Wales, and we will explain how it applies if your property is in Scotland.
Do I need a solicitor?
Yes, as with any property sale. Your solicitor prepares the legal pack and handles conveyancing, and their costs are yours. We coordinate with them so nothing holds up the sale.
Do you give legal or financial advice?
No. Zelto does not give regulated legal or financial advice. We give practical guidance on the auction process; take independent advice before you sell.
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.
