The fastest way to sell a property ahead of a planned move, either within the UK or further afield, is typically through a property auction, where contracts are exchanged immediately when the auction ends, and completion happens normally within just 20 working days.
Compared to traditional sales processes, auctions offer greater speed, certainty, and transparency, which is ideal for homeowners with fixed deadlines and who need to sell their properties before their relocation can proceed.
Moving is inevitably stressful, and a highly efficient sale helps keep selling a home from stalling your plans or adding to your to-do list, with support from experienced auctioneers to ensure the transaction completes smoothly.
Selling a House Quickly Before Relocating: Key Takeaways
- Auction sales offer speed and the assurance that confirmed buyers won’t back out of the transaction or change their mind at the last minute – both important aspects for sellers who are moving.
- Property auctions remove common stumbling blocks, such as delays or breaks in property chains, as buyers are legally committed to completing the transaction once the auction ends.
Why Does Speed Matter When Selling a House Before Moving?
Regardless of the reason for your move, you’re likely dealing with strict timelines and the financial pressures of a relocation, and might be reliant on selling by a specific date to be able to:
- Coordinate the completion date with your move
- Avoid having to pay two mortgages or rents
- Finance the purchase of your next home
- Ensure the sale doesn’t end up being managed from another region or country
The latest figures show that as many as 693,000 people move overseas each year, all of whom may find that delays to property sales can result in higher costs, the stress of not knowing when or if a property will sell, and disruption to their relocation plans. [1]
Some homeowners also discover that the taxes payable on the proceeds from selling a house are significantly higher once they move overseas, though this will depend on their circumstances.
What Are the Options for Selling a House Quickly?
Sellers can opt for private treaty sales, property auctions, or even sell to a company that buys homes for cash, but it’s advisable to weigh the pros and cons of each option carefully before making any decisions.
Private Treaty Sale | Auction Sale | Cash Sale | |
Average timescale | Four to six months | Four weeks from the end of the auction | Around three to four weeks |
Certainty | Variable | Excellent | High |
Potential sales price | Based on open market value | Can exceed expectations due to competitive bidding | Low |
Risks of the sale falling through | High – sales are not legally binding until contracts are exchanged | Zero – auction sales are confirmed on the day | Variable – some companies guarantee to purchase any property - but then renegotiate near exchange |
Exchange date | Variable | Immediate | Dependent on the company. |
Completion date | Variable | Usually one month | Roughly one to three months |
Clive Emson’s property auction advisers note that, ‘Selling at auction isn’t only about the achievable sale price, but knowing that the property is incredibly likely to sell, and within a static timeframe – without any doubt about whether the completion will go ahead, or whether the funds you need will be available in time.’
Why Is an Auction the Best Way to Sell a Home When Relocating?
Fixed timelines, a legally binding sale agreement and competitive bidding are all advantages of selling at auction, and can make it easier for homeowners planning to relocate:
- Auction sales do not have a period subject to contract or chains of buyers, where, if one person backs out, the sale may fall through.
- The vast majority of properties listed in an auction sell by the end of the process – around 75% to 80% achieve a first-time sale compared to roughly 50% of properties sold through alternative methods.
- Bids are often competitive, which can drive prices beyond expectations, especially for well-priced properties that attract significant interest.
Most movers choose to sell before their move, which provides immediate access to funds and eliminates the cost of managing a property from a different location. However, an experienced auctioneer can assist if you have left it a little late or are already living elsewhere, since sellers don’t need to attend a physical auction in person.
What Mistakes Should Sellers Avoid When Selling Before Relocating?
The biggest errors sellers can steer clear of include overpricing the property, thereby reducing interest, or under-pricing their house in the hopes that this will expedite the sale.
Undervaluing a house means receiving a lower sale price, but it might also put buyers off who perceive a fault or issue with the property, because it is being marketed for less than they believe it is worth.
Requesting a free auction appraisal is a good way to ensure sellers have a realistic idea of what their house may be worth, and can incorporate that into their plans.
Frequently Asked Questions
How Quickly Could I Sell My House Before Moving Overseas?
Property auctions enable you to sell in around four to eight weeks altogether, including the time between instructing your auctioneer, having the property marketed, and the property completing.
Does Selling a Home Quickly Mean Accepting a Lower Price?
Not necessarily, and auctioneers can advise on the right price level for your home before it is listed at auction and let you know if there has been a lot of interest, which can mean bidding is likely to be competitive.
What Happens if I’m Moving and My Property Hasn’t Sold?
If your property is one of the small number that don’t receive a viable bid, you can simply relist the house at the next auction, although there may be benefits to revising your pricing strategy. Sellers don’t need to attend an auction in person, which means a sale can be managed from anywhere in the world.
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