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How to sell your house quickly via Quick Sale Property Auctions

Sam Kinloch

How to sell your house quickly via Auction

Property auctions can be one of the quickest ways to sell a house, and although the standard process takes 20 days from the sale date, this is still considerably faster than selling your property using a traditional private treaty process which can take up to 6 months!

Most auction sellers instruct the auctioneer after a free no-obligation in-person auction appraisal, select an auction date and once a bid on or above the reserve price is met, exchanging contracts happens immediately on the fall of the hammer and completes within 20 days from start to finish. Whilst this is a hard deadline, it’s possible to sell your house even faster if the conditions are right and with a bit of preparation! Find out how to sell your house quickly with auctions.

Are you looking for a quick sale? If you’re looking for a quick sale or to sell your house  within 20 days, get a free appraisal here and find out how much you can sell for. 


How to sell your house quickly via Quick Sale Property Auctions

Can Selling a Property at Auction Guarantee a Fast Sale?

Yes and no. Once the gavel falls it is legally binding, the buyer has a legal responsibility to purchase the property within the pre-agreed time frame. Both parties are legally bound to proceed with the transaction. Failure to do so will result in significant fines. Buyers know this, so it’s in their best interests to wrap up the sale as quickly as possible.While many property auctioneers will promise a quick sale, it is important to note that a small proportion of properties do not sell when offered at auction. It is likely that you will sell promptly if your lot is well-priced and professionally marketed, but there isn't ever a 100% guarantee.

Related Reading: What happens when an auction property is unsold?

The benefit of a property auction, particularly for lots that may be trickier to sell through an estate agent due to the condition or unusual nature of the property, is that you stand a far higher chance of completing within a few weeks.

Advantages of Selling a House at an Auction

Selling a house via auction can have several advantages. Here are just a handful:

  • Property owners may assume an auction will generate a lower sale value than through a traditional private treaty sale. The opposite is often true, especially for the properties that require modernisation or renovation and can have added value.
  • Once the gavel falls, the buyer pays a deposit and normally completes within 20 business days, which means you receive your money within one month of the sale.
  • It is also important to note that a successful auction bidder cannot drop out of the transaction or change their mind, a common issue for sellers hoping to complete a sale quickly, only to find themselves back at square one.There are several additional advantages. You can read more here: selling property at auction

What Can affect the speed at which you can sell your house?



The very nature of the auction process means that you can sell your house quickly, however, the auction process can be accelerated even further - if you’re prepared. The speed of the auction process is affected by the following factors:

  • Have you chosen a reputable auction house? - Your choice of auction house can influence both the speed at which your property sells and the price you achieve. As highly experienced property auction specialists, our teams work diligently to present properties in the best light and implement robust marketing to attract as much interest as possible before the auction day.
  • How will your property be well advertised? - Homes sold at an auction need to be marketed to drive interest and attract potential bidders. Although it's possible to sell quickly, it may also be worth building in a couple of weeks to ensure your lot has been sufficiently advertised.
  • Is there an auction date coming up? - Generally, auctioneers will hold auctions every 4-6 weeks. For example, at Clive Emson, we list our auction dates here so that our buyers know when the bidding starts and sellers know when the property is likely to be sold. If unsure contact us in advance of the next auction, we can get your property listed in the next available auction - which could shave a few days off the process.
  • Do you have all of your documents in order? - Another factor is the completeness of your legal pack, which a solicitor will prepare, including all the formal documentation about the property. The package includes things like leases, deeds, tenancy agreements and ownership paperwork.A comprehensive legal pack will provide plenty of detail about the property and can help expedite a sale since bidders won't be put off by a lack of information or decide not to bid due to queries about the condition of the building.You’ll also be required to submit other documents / property information such as the type of property, deeds, EPC information and lease details. For the sake of speed, it’s important that you have these documents available on request.
  • Could you accept a pre-auction offer?- We’re often asked whether a seller can accept offers before the date of the auction to speed up the sale of the house. The simple answer is yes, but this may not be in your best interest. Bidders know that auctions can become extremely competitive when a property in a desirable location or with strong potential becomes available, so they may try to convince the seller to sell to them beforehand.As a seller, your priority will normally be to sell for the highest possible value and as soon as you can – we do not recommend agreeing to a direct sale since this typically means the buyer will achieve a lower price than they know the property would have made at auction.Fees such as entry costs, auction commission and paying a solicitor to prepare a legal pack will still apply, so if you have decided to go for an auction sale, it is normally best to wait for the auction.
  • Have you set a Competitive Reserve Price? One of the common reasons a house doesn't sell immediately at auction is that the reserve is too high.Your reserve price is the minimum you are prepared to sell for; this isn’t normally publicised, and only the auctioneer will know what threshold you have agreed between you. Reserves are private because this means the auction remains fair, where bidders need to make their own decisions about what they think a property is worth. However, bidders can see the guide price, which gives an indication to the agreed reserve level.If you receive bids for your house below your reserve price, the auctioneer will contact you to discuss but it will never be sold below the agreed reserve within the auction to protect the minimum you would take. The auctioneer can negotiate with prospective buyers after the auction if it didn't quite make the reserve.

  • Will there be an online auction? - During the pandemic, most property auctioneers decided to offer online auctions to allow sales to continue, as in-person auctions were not permitted – online property auctions are also popular with investors looking to purchase property in a specific area or from overseas who cannot attend in person or send a proxy. Selling via an online auction can speed up the sale of your property since you can attract a larger number of potential bidders rather than relying on a smaller audience attending an in-house auction to take an interest in your lot

Which Property Types Sell Fastest at Auction?

Whilst property auctions include any number of wild and wonderful properties and plots of land, those that tend to be best suited are renovation projects or properties that require work or can have added value like an extension.

As we've mentioned, the competition of an auction can help sellers achieve a better price for their house. Bidders keen to acquire property may be likely to offer a higher value against a counterbid than they would through a closed-bid situation.

With that said, this isn’t the only type of property that we sell at auctions. A high % of our properties are in good condition that are for owner occupiers or investment. Are you looking for a quick sale on a slightly unusual property? We’ve sold all kinds of quirky properties from Toll Houses dating back to 1758 to roads and large plots of land. This goes to show that there is a buyer for every property - even if you have a nuclear bunker with potential, don’t hesitate to get in contact with us!

Is it Faster to Sell a Home Via Auction or Private Treaty?



According to theadvisory.co.uk, it can take between 4-14 weeks to get an offer on your property if you sell via private treaty. From start to finish, the whole process takes 15-25 weeks meaning that selling via auction is much faster. 

Source: The Advisory

How to sell your house quickly via Quick Sale Property Auctions

Several organisations offer a guaranteed sale and promise to buy any house, in any condition and location – but sellers should be cautious about relying on this method of achieving a fast sale.

Although you might need to complete as quickly as possible, selling directly to a house-buying company will mean you accept a discount on the fair market value, normally of at least 25% and sometimes substantially more.

This method of purchasing homes is also outside the scope of regulation, so there isn't any protection for the seller – an auction is a secure, safe and established process with checks in place, such as requiring bidders to register before they can participate in an online auction. It also guarantees market value on the day.

Sell your property quickly with Clive Emson



If you need a speedy, efficient sale at market value and would like further advice in setting the guide and reserve price and marketing your house, please contact the Clive Emson team at your convenience for additional guidance.

About the Author

Sam Kinloch

Sam Kinloch

Director & Senior Auction Appraiser
MNAEA MNAVA

Sam’s career in the dizzy world of property auctions began when he hung up his chainsaw and headed in from the forest. Joining the team in 2003 Sam now sits on the Board of Directors and has been instrumental in the adoption of online auction services.
Out of the office you can find him flying around the velodrome or sipping coffee at a local café.


01273 504232

07968 780714

sam@cliveemson.co.uk

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